America’s used car business is facing a mid-life crisis: dealers are selling tons of late-model cars and a lot of dinosaurs, but sales of autos in their middle years are declining.
And that’s bad news for some car salesmen. Independent dealers are showing up at auctions looking for their bread and butter: the six-year-old vehicle at a certain price point.
“The problem is there are none,” said Jonathan Smoke, chief economist at Cox Automotive, which owns Kelley Blue Book, Manheim auctions and other brands.
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