Harry Guerrilla
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This is pure speculation.
This was something i researched extensively as i am long Ford (and have been) since the beginning of cash for clunkers.
That does not make it wrong.
What incentive was created, to purchase more cars, after the credit expired?
The used car market (total vehicles sold) was was down an excess of 20% since late 2008, signaling a significant price reduction in the used car market. This however was nowhere near the reduction in the new car market.
Used car market values are up over a year ago, some more pronounced than others.
In a weak job market and contracting wages, that isn't a plus.
"With Used-Car Prices Up 10 Percent Over 2009, Buyers Need Shopping Discipline" Edmunds Daily