Today's Chicago Tribune notes:
Instead of buying new vehicles, some consumers are opting for late-model used vehicles. While overall new-vehicle sales fell 2.5 percent last year, certified used-vehicle sales—those sold through dealerships with factory warranties—rose 2 percent to 1.68 million. For this year through February—the latest available data—certified used-vehicle sales increased 4 percent...
According to a recent article in Auto Remarketing, compact vehicles continue to gain market share:
The compact vehicle share of the total new-vehicle market rose from 27.9 percent in 2005 to 31.2 percent in 2006, PIN reported. Six years ago, in 2000, compact vehicles accounted for just 23.8 percent of the market. During the same time period, the share of midsize vehicles dropped from 42.8 percent to 40.4 percent, while the share of large vehicles declined from 29.3 percent to 28.5 percent.
The article notes that styling and the attractiveness of compact models in recent years have contributed to their popularity, and points out that:
According to a news report from Japan, some used car dealers are teaming up with Internet firms to run interactive auctions direct to consumers. Because these auctions include videos of cars for sale, and can even have customers send in questions to the dealer during the auction, they can help overcome the fear of many consumers to buy a used car online.
