Bargain-Conscious Americans Lift Used-Car Sales in the Coronavirus Economy
Friday June 5, 2020
Reuters, June 5, 2020 – At the height of the coronavirus pandemic in mid-April, used-car dealer Alex Tovstanovsky had vehicles jammed six rows deep on his lot in the western Chicago suburb of Naperville.
But the seeming oversupply was not a mistake.
Despite plummeting sales at his store, Prestige Motor Works, Tovstanovsky was betting on a recovery, buying dozens of cars in early April as auction prices for used vehicles dropped.