Tuesday, December 1, 2009
Several months have passed since the Cash for Clunkers program caused a temporary surge in sales, which was then followed by a slump. The dust has settled, and what we now see is that car sales have jumped 20% since hitting a low last February. We see the same pattern in the Manheim index of used car prices, which has risen 20% since last December's low. These sure look like genuine, V-shaped recoveries to me.
Posted by Scott Grannis at 3:05 PM