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People also weren't buying new cars in 2008-2011, so there are fewer used cars resulting from that on the market. Plus, interest rates are really low. So a new
by rdl 10y ago
People also weren't buying new cars in 2008-2011, so there are fewer used cars resulting from that on the market. Plus, interest rates are really low. So a new car bought in 2007 + 5-7 years would be getting replaced.
- woobar 10y agoOver the last 10 years average car and light truck sales were 14.5M/year. Even in 2008-2010 annual sales never dipped below 10M. Detailed stats - https://www.bea.gov/national/xls/gap_hist.xlsx https://www.bea.gov/national/xls/gap_hist.xlsx