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January 16, 2012 By Leave a Comment

Shortage of Used Cars Prompts Dealers to go ‘Mining’ for Them

Shortage of used cars prompts dealers to go ‘mining’ for them

By Terry Box | DALLAS MORNING NEWS DALLAS — Every used car in for service at Five Star Ford of Plano, Texas, gets a tantalizing offer. Before they are dispatched for oil changes or repairs, the used cars and trucks are appraised, and a “check” for their value is placed on the dashboard. The check isn’t real, but it is a legitimate offer whether the customer buys a new car or not . . . and just one approach in the growing business of “mining” used cars. A three-year shortage of used vehicles, caused by the collapse of the economy in 2008 and subsequent plunge in new-vehicle sales, is forcing most dealers to look far beyond trade-ins and auto auctions for used cars and trucks. “When cars get easier to obtain, we may not put this much effort into it,” said Brian Huth, general manager of Five Star Ford. “But now you get them any way you can.” Some … [Read more...]

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January 4, 2012 By Leave a Comment

Americans Bought Nearly 39 Million Used Vehicles in 2011

We Buy Cars StreetBuyers.com

by Paul A. Eisenstein | The Detroit Bureau Americans bought nearly 39 million used vehicles in 2011, more than three times the number of new cars, trucks and crossovers sold last year. But with demand threatening to outstrip supply – especially for “nearly new” vehicles – buyers saw prices rise sharply, a trend likely to continue through 2012, according to CNW Marketing. “We saw a lot of people whose existing cars were just tired so, after two years of pent-up demand, that finally led to a surge of used car sales last year, and especially in November and December,” said CNW chief Art Spinella. Used vehicle sales totaled 38,792.169 for all of 2011, according to CNW research, up 5.2% from the prior year. December volume surged 11.98%, to 3,142,513. The year, as a whole saw a surge in private party, or consumer-to-consumer, sales, especially in the final months … [Read more...]

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October 1, 2010 By

Why…The Lawrence Report

sl125_125

I wanted my first post to The Lawrence Report to define what I hope to accomplish with this eMagazine. A place to come back to when I get off track. First a little background. I got out of the Navy in 1973 and I started working for a Pontiac, Mazda and Mercedes dealer. Before long I was the service manager. The winters in South Dakota are long and cold and when I received an offer from a Pontiac, Mercedes and Honda dealer in Kansas, I jumped at the opportunity. I was in sales by 1979 and this was much more to my liking than twisting wrenches. I went into business for my self in 1982. I thrived in the buy here, pay here business until 2007. The used car business was in the middle of a paradigm shift that proved more than I could handle. I went to work at a Chevrolet - Pontiac store and realized the new car guys were having the same problems I had been having. We were all too … [Read more...]

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