Sharply lower demand hits used-car market
Dealers expected to flood auctions with vehicles to raise cash as they brace for fall-off in demand
20 April 2020 - 18:40
New York — General Motors and Ford Motor's finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts say.
Prices are falling faster and steeper than JPMorgan was expecting, lead analyst Ryan Brinkman wrote in a report on Monday, citing mid-month data from Manheim...
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