Used cars piling up: Record sales of new vehicles put damper on auction prices
Especially these days, used cars have gotten all the respect of Rodney Dangerfield. Like the late comic, they’ve been dissed-in this case by the incessant marketing of automakers’ “employee discounts” that drove new-car sales to record volumes in July. But with automakers expected to end those discounts in early September, local dealers and auction firms are bracing for used cars to be the next big wave of sales. Dealer lots are crammed with trade-ins, so many aren’t buying additional used…