New Vehicles in a Position to Put Used Under More Direct Competition

Used Cars

Forbes - July 31, 0012

Group 1 Auto¬≠mo¬≠tive in Hous¬≠ton is hav¬≠ing an expe¬≠ri¬≠ence oth¬≠er deal¬≠ers are going through around the coun¬≠try ‚Äď new and used car prices are close enough that they‚Äôre com¬≠pet¬≠ing with each oth¬≠er for sales. Thanks to incen¬≠tives, dis¬≠count finance deal¬≠ers, and com¬≠pe¬≠ti¬≠tion among deal¬≠ers, new car trans¬≠ac¬≠tion prices are soft¬≠en¬≠ing enough to be high¬≠ly com¬≠pet¬≠i¬≠tive with used cars, said Earl Hes¬≠ter¬≠berg, CEO of Group 1 Auto¬≠mo¬≠tive. While used car prices are down from cycli¬≠cal highs, they‚Äôre still high enough to face more direct com¬≠pe¬≠ti¬≠tion with new.

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