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%.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
Already a member? Log in
