This is billshit non-sense that won't die. C4C scrapped 700,000 used vehicles. The USA sold 16,000,000 vehicles in 2007 and had ~250,000,000 registered vehicl

This is billshit non-sense that won't die. C4C scrapped 700,000 used vehicles. The USA sold 16,000,000 vehicles in 2007 and had ~250,000,000 registered vehicles. What caused used car prices to spike was the fact that new car sales fell from 15 million a year, to 10 million a year, then took five years to recover. That's a net loss of 25 million new cars, or about 10% of the total number of registered vehicles. 25,000,000 >> 700,000 https://www.statista.com/statistics/199983/us-vehicle-sales-since-1951/ https://www.statista.com/statistics/199983/us-vehicle-sales-... C4C scrapped a literal rounding error number of vehicles.