How the 2008 crisis reshaped used cars

AutoNews.com looks at the effect of the 2008 Stock market crisis on the automotive industry. When new car sales plunged and credit became harder to get, it created a domino effect that is still being felt be car dealers today. The shortage of used cars, created when car owners held onto their older vehicles rather than trading them in, meant that there were less used cars available. This in turn raised the price of those vehicles in auction. A vehicle that sold for $2500 a few years ago now costs more than double or more, lowering the potential profit margin. Newer used cars are harder to come by resulting in more older used cars on the lots.
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