Industry Information about Used CarsThe used-car industry cultivated from the automobile manufacturing industry. Mainly, when manufacturers began to encourage their customers to trade in old cars and pay for new models, used cars became more and more accessible. The National Independent Automobile Dealers Association (NIADA) reported that 43 million used cars valued at $370 billion total were sold in 2002. NIADA discovered that the used car sales would stay put at about 40 million in the following years. Recent Trends in Used CarsUsed vehicles accounted for 28.3 percent in 2003 of the overall market. According to the National Automobile Dealers Association (NADA), new car dealers purchased some 19.4 million used cars in 2003. NIADA also reported that there were over 16,000 independent dealers in the United States in 2003. Used-car dealers attain their vehicles through a range of outlets. Independent and chain auto auctions provide vehicles retired from rental fleets. Auctions also make consignment sales from new car dealerships and insurance companies. Industry leaders of 2002 included used cars in Phoenix with Earnhardt Ford Sales Co., located in Arizona, as well as Houston used cars with Bill Heard-Landmark Chevrolet, based in Texas.Businesses in This CategoryThis category goes over establishments primarily engaged in the retail sale of used cars, not including sales of new automobiles. These establishments also often sell used pickups and vans at retail.
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