By Al Tompkins
It is nice to see parts of the economy showing some life. Used car lots
are getting busier, with sales nationwide rising more than 3 percent
compared to the same period last year.
The
volume of used cars sold through dealers rose 3.1 percent in February
compared with last year, the first year-over-year increase in 12
months, reports CNW Marketing Research. By contrast, new car sales slid
41.4 percent in February from a year ago.
Wholesale used car prices have risen steadily since October, including a 1.1 percent rise in February compared with January, says Tom Kontos, chief economist for Adesa Analytical Services, though they remain lower than in February 2008.
The story says there is even a scarcity of used cars because rental car agencies, a key source of late-model used cars, are keeping their vehicles longer.
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