{"id":574476,"date":"2020-09-10T04:09:13","date_gmt":"2020-09-10T04:09:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/covid-19-pushes-the-us-to-a-used-car-sales-boom\/"},"modified":"2020-09-10T04:09:13","modified_gmt":"2020-09-10T04:09:13","slug":"covid-19-pushes-the-us-to-a-used-car-sales-boom","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/covid-19-pushes-the-us-to-a-used-car-sales-boom\/","title":{"rendered":"Covid-19 pushes the US to a used car sales boom"},"content":{"rendered":"

Is covid-19 better for used cars than new ones? Sales data in the US seem to indicate <\/strong>so:<\/strong> The US is experiencing a nationwide used car sales boom, as the demand for new cars plummets and people tighten their purse strings during the pandemic, according to CNBC\u2019s After Hours (watch, runtime: 14:10<\/a>). Sales of used cars increased 17% from pre-covid levels in June while the average listing price of a used car increased USD 700 from June to July.<\/p>\n

Used car delivery, anyone?<\/strong> Companies like Vroom<\/a> who offer contactless used car sales have seen their inventories drop amid the increase of demand, said Vroom CEO Paul Hennesy.<\/p>\n

Health and safety concerns are also attributed to the boom<\/strong>, with people choosing to buy cars to avoid the virus-spreading mass transit system. In the hard hit New York City used car dealerships saw customer walk-ins rise 38% from 2019, with the city unsure whether its infrastructure can handle the increase in vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is covid-19 better for used cars than new ones? Sales data in the US seem to indicate so: The US is experiencing a nationwide used car sales boom, as the demand for new cars plummets and people tighten their purse strings during the pandemic, according to CNBC\u2019s After Hours (watch, runtime: 14:10). Sales of used […]<\/p>\n","protected":false},"author":1,"featured_media":574477,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9004],"tags":[144,107,72,7111,527,2388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-watching","tag-automotive","tag-covid-19","tag-enterpriseam","tag-infrastructure","tag-pandemic","tag-worth-watching","wpautop","entry"],"acf":{"mongo_id":"59676663-826c-43b5-bb40-67420082f33d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/130.jpg","photo_position":"above","related_issue":[574457],"teaser":"","voice_url":""},"yoast_head":"\nCovid-19 pushes the US to a used car sales boom - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/covid-19-pushes-the-us-to-a-used-car-sales-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covid-19 pushes the US to a used car sales boom\" \/>\n<meta property=\"og:description\" content=\"Is covid-19 better for used cars than new ones? Sales data in the US seem to indicate so: The US is experiencing a nationwide used car sales boom, as the demand for new cars plummets and people tighten their purse strings during the pandemic, according to CNBC\u2019s After Hours (watch, runtime: 14:10). 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The traders added that they think the rise comes from stabilizing prices and a seasonal rise in the summer. 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