The current shortage of used cars, along with record prices for second-hand vehicles, is likely to come to an end, according to ALG.
According to ALG, June 2014 marked the lowest level of used vehicle supply, with both Cash for Clunkers (which took an estimated 700,000 vehicles off the road), as well as low new vehicle sales from 2008-2012 making used cars a scarce commodity.
But with rising sales over the past two years, a new pool of trade-ins, as well as vehicles coming off short 24 and 36 month leases should mean a broader supply of used cars. Currently, the lack of new car sales in 2009 is affecting used car inventory levels today, but ALG's forecasts predict an upswing occurring in 2016.
The post Used Car Prices Set For A Decline: ALG appeared first on The Truth About Cars.
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