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> Is it just people wanting new cars less, or less new cars being available? Both. New cars are very expensive and most people can't afford them. The used c
by danans 5y ago
> Is it just people wanting new cars less, or less new cars being available?
Both. New cars are very expensive and most people can't afford them. The used car market is nearly 3x the size of the new car market (in cars sold, not $).
Also, as cars have become more reliable many who would otherwise buy new are buying lightly used
off-lease cars (i.e. certified pre-owned). Many people understand the instant depreciation hit that comes with a new car, and want to avoid it.
Add to all that there is currently a supply chain issue for critical parts needed for new cars.