Bloomberg News reports that new car deliveries will climb to 12.4 million from 10.3 million in 2008, the Ann Arbor, Michigan-based Center for Automotive Research said. U.S. sales were 13.2 million last year, after averaging 16.8 million this decade through 2007. So, why is that important to you as a used car buyer? It means additional supply for the used car market.
More new car sales mean more cars being traded in that end up in the used car sales lots. It's supply and demand. More supply means lower prices (or at least stable prices). This all means 2010 could be a great time to buy a used car (unless of course you buy a used car before the end of December).There's an interesting tidbit in the article: "Cars on U.S. roads ... now average a record 10.5 years old, and the sales rate has fallen to 42 autos for each 1,000 adults, Center for Automotive Research chief economist Sean McAlinden said. In the 1992 recession, the rate was 66 autos per 1,000 adults, he added.
Factor all that in and it means good things for the used car market in 2010.
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