Models that have run more than 160,000, even 320,000 km are still traded even though no one has cared about them before.
Higher car prices are the obvious reality now in the market. But even the number on the odometer is higher than before, and many dealers are willing to sell used cars with mileage from 160,000 km (100,000 miles) or more, even to more than 320,000 km ( 200,000 miles).
Parts shortages, especially chip shortages, are forcing dealers across the US and across segments to struggle to get enough stock for customers looking to buy new cars. But the stock is still not enough, and the situation makes these dealers rethink their approach to the used car business.
In the past, it was not unusual when the majority of used car models with a larger mileage were often put up for auction instead of being left at the dealership. Dealers often only focus on selling new cars because used cars bring less profit and capital turnover is also longer. But now, the trend is changing.
At this time, dealers are not doing anything excessive compared to before, but they are well aware of the resale value of used car models on the market in the real context. When new cars are in short supply and used cars are hard to find, old models with a mileage of more than 160,000 km and even more than 320,000 km can still sell for more than $10,000.
On the other hand, customers do not hesitate to buy models that have run too much, even with the seemingly limited number of miles.
However, this carries risks for both sides. Too old cars need a certain level of refurbishment, so the dealer also needs a certain investment to not disappoint customers. For customers, owning a car that has been operating too much must always be ready for unexpected “sicknesses” with even petty expenses that can be troublesome and time consuming.
America – England (according to Automotive News)
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