In This WHOLE LONG REPORT On the Astonishing(!) Prices Used Cars Are Commanding
Got a halfway decent car in your driveway? You just might be sitting on a golden opportunity.
Used-car prices are up almost 30 percent from December 2008, fueled in part by people looking for more fuel-efficient cars. In April alone, prices for these vehicles rose 20 percent over what they had been in January.
…NOWHERE…
…even when they finally get around to causality…
…Supply is a big reason for the used-car revival. Americans bought 40 percent fewer new cars during the recession and held on to those cars longer.
…The earthquake and tsunami in Japan triggered a huge shortage of new cars and parts as well — even affecting U.S. plants — as did the 2008 financial crisis, when credit tightened and car companies cut back on leasing.
…again, NOWHERE do they mention “CASH for CLUNKERS“. Officially known as the “Car Allowance Rebate System (CARS)“, it was the brilliant stimulus spawn of the Obama Administration/Pelosi Democratic Congress which led to the VOLUNTARY utter and complete destruction of (per the abomination’s final report to Congress) HOW many functional vehicles again?
CARS Report to Congress
The CARS program achieved the objectives set out by Congress to increase automotive sales and aid the environment. In just a few short weeks of sales, nearly 680,000 older vehicles were replaced by new, more fuel-efficient vehicles. The nation’s economy benefited immediately from this stimulus program, which caused a distinct upward movement in GDP and created or saved tens of thousands of jobs at a very critical time in the recovery process.
Odd ABC doesn’t mention almost three-quarters of a MILLION vehicles removed from the marketplace in ONE FELL SWOOP? It might be those thousands of jobs/polar bears created/saved/still on ice floes that gave them ‘moral’ pause ~ I don’t know. But when you say, “Supply is a big reason for the used car revival” and blame everything but the guys you helped elect nose on your face, heh!
Somebody, SOMEwhere is gonna remember ALL those evening news videos you showed about the perfectly fine five year old Volvo’s insides being smoked to dog sh*t as the liquid glass was poured in, receiving it’s “DEATH” certiificate and then being hauled off to the scrap yard.
All for that gubmit $4000 check.
And now that $4 grand is tacked on to the price of that guy’s used pick-up you led the story with.
Weird how how a Democratic “good deal” bites you in the ass EVERY time.
Biz, Media, Nanny State, People, Politics | tree hugging sister | 
May 20, 2011 8:25 am
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There’s something like 110 million cars in the US of A. The loss of 680,000 used shouldn’t have made that much difference this far into the year. Maybe The Mighty O can explain that.
I remember reading about some of those clunkers…like the BMW 7 series or the ‘Vette that were traded in for a couple of grand, those cars were worth ten times the amount of the rebate, easy…and all of my crappy cars were too old to participate. How’s that for stimulus?
And another thing. Folks who took that clunker cash are probably still pissed that money was taxable.
A fair amount ran into a buzzsaw as well, gary, when they had hours cut back/lost their jobs and NOW had car or lease payments. Buckets of them were trying to wiggle out of the lease payments not long afterward. Buyers remorse set in fast.
It’s not just the loss of two-thirds of a million cars, it’s also the reduced demand for the new cars, especially anything that has to be financed. That drives demand for used cars way up, because it’s easier to be able to scrounge the money for one… at least, before they started skyrocketing in price.