Used-car lots ‘hot’ during COVID-19
The COVID-19 pandemic has dinged the auto sector, but one part of the industry is faring better than it was before the crisis: used cars.
Sales of used vehicles in the U.S. have roared back after dropping 38% in April, when states were shut down and some dealerships were forced to close. In June, used-vehicle sales rose 17% above the pre-pandemic forecasts, according to research firm J.D. Power.