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Demand Growing for Late-Model Used Vehicles with Factory Warranties.
Knight Ridder/Tribune Business News, March, 2002
By Rick Popely, Chicago Tribune Knight Ridder/Tribune Business News
Mar. 31--CHICAGO--Zero-percent financing and rebates of $2,500 may be turning some used-car shoppers into new-car buyers, but auto manufacturers are finding demand is growing for late-model used vehicles that carry factory warranties.
Sales of used vehicles that passed a factory-certified inspection and come with a manufacturer's warranty rose 45 percent last year, to 670,000, and General Motors predicts the total could hit 1 million this year.
That is still a drop in the bucket of the estimated 42.6 million used vehicles sold in 2001 by dealers and private parties, but car companies say certified used vehicles can keep shoppers from switching dealerships or brands.
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