We’re all used car salesmen now

Published October 16, 2020 3:00am ET



The economic slump accompanying the coronavirus shutdown has hurt just about every industry one way or another. But one industry that has somewhat benefited from the pandemic is the used-car market.

Cars, both old and new, are in high demand — so much so that prices are surging and inventory is becoming scarce. In September alone, the prices of used cars and trucks rose 6.7%, according to the Labor Department, marking the biggest monthly move since February 1969. The previous month, used car prices were up 5.4%. Compared to this time last year, overall prices for used cars are up by more than 10%.

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