Americans Buy Used Cars in the Coronavirus Economy
In April, as America shutdown to stop the spread of the new coronavirus, used-car salesman Alex Tovstanovsky bought as many cars as he could find. His business in the Illinois town of Naperville was filled with used vehicles, cars that are no longer new and up for resale.
The price of these cars had fallen to the lowest levels he had ever seen. He believed the market for used cars was about to grow a lot – and he was correct.
Now, as Americans return to work, car buyers are mostly looking at used cars. With his large number of cars, Tovstanovsky can offer lower prices than his competitors. His sales are up 38 percent when compared to May 2019.
Growing demand has now pushed used car prices about 20 percent higher than they were when Tovstanovsky began buying in April.
"I just wish I'd bought more cars when prices were low," he said.
American economic activity has fallen very sharply because of restrictions meant to control the spread of the coronavirus. Americans do not want to spend money on things like new cars. Instead, they are trying to save money by buying used cars, often less than 60 percent the cost of a new one.
Used car dealers are now trying to buy as many used vehicles as they can, although the economy still looks shaky.
"We don't have enough inventory," said George Arison. He is co-chief executive officer of online used-car seller Shift. By the end of April, Shift's sales returned to levels the company had seen before the coronavirus arrived in the United States.
Americans usually choose used cars in difficult times. Cars are important in a country where in most places it can be difficult to get to work without a vehicle.
But growing used car sales are a problem for the big automakers. They want people to buy new cars. They need to sell those cars to get the money they lost when sales stopped during the two-month shut down for coronavirus.
According to Cox Automotive, new car sales for the week ending May 28 were down 28 percent, but sales of used cars rose 6 percent. The prices of used cars also rose 5.7 percent in the beginning of May, reported Cox Unite Manheim.
The company Carmax Inc. is the country's No. 1 seller of used vehicles. It has asked nearly 60 percent of its 15,500 employees to return to work.
Its chief marketing officer Jim Lyski said he believes the company will become stronger as used car sales increase in the months ahead.
Right now, used car salesmen say their companies and buyers are finding it easy to get loans for used cars. However, one major bank, Wells Fargo & Co, said this week it will stop offering loans to many used car companies because of economic uncertainty.
Used-car dealers say recent buyers have included those who recently received a government check for $1,200. The government issued these checks to most Americans to help the economy.
"I've seen a lot of down payments this month of exactly $1,200," said Scott Allen. He is the owner of Auto Land in Fort Worth, Texas, which sells older used vehicles. After being closed for nearly a month from March 23, Allen's sales in May were up 55 percent over his usual sales for that month.
But both the new and used car industry is worried about the future. Many Americans lease vehicles for two years and then return a nearly-new car. More than 4 million are due to be returned to the market this year, nearly 340,000 each month. These cars could flood the market and force prices down.
I'm Susan Shand.
Now he's working as a used-car salesman.
The city police set up roadblocks to check passing vehicles.
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Such loans often are used for weddings, car purchases, small businesses and down payments on apartments.
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5.His business in the Illinois town of Naperville was filled with used vehicles, cars that are no longer new and up for resale.
no longer 不再
She no longer feared that they should misunderstand her.
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6.His business in the Illinois town of Naperville was filled with used vehicles, cars that are no longer new and up for resale.
be filled with 充满
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今年4月，随着美国停工以阻止新冠病毒的传播，二手车商亚历克斯·托弗斯塔诺夫费尽心思收购了尽可能多的汽车 。其位于伊利诺伊州内珀维尔镇的公司里到处都是二手汽车，这些都不是新车，准备转售 。
这些汽车的价格降到了他所见过的最低水平 。他认为，二手车市场将会大幅增长，他的预测是对的 。
现在，随着美国人复工，大多数购车者将目光投向了二手车 。托弗斯塔诺夫凭借收购的大量二手车，可以提供比竞争对手更低的价格 。与2019年5月相比，他的销售额增长了38% 。
由于遏制新冠病毒传播的限制措施，美国的经济活动急剧下降 。美国人不愿意花钱购置新车等商品 。相反，他们想购买二手车节省一笔费用，二手车价格通常不到新车的60% 。
乔治·阿利森表示：“我们没有足够的库存 。”他是网络二手车商Shift公司的联合首席执行官 。截至4月底，Shift公司的销售额恢复到新冠病毒在美国开始传播前的水平 。
美国人通常会在经济困难时期选择购置二手车 。在美国拥有一辆汽车非常重要，因为在大部分地区，没车的话上班很困难 。
但是二手车销量不断增长给大型汽车制造商带来了困扰 。他们希望人们购买新车 。他们需要销售新车来弥补因新冠病毒停工两个月期间销售停滞带来的损失 。
根据Cox Automotive公司的数据，截至5月28日的这周的新车销量下降了28%，而二手车销量上升了6% 。据Cox Unite Manheim公司报道，5月初二手车价格也上涨了5.7% 。
Carmax公司是美国最大的二手车销售商 。该公司已经要求15500名员工中近60%的人重返工作岗位 。
该公司首席营销官吉姆·莱斯基（Jim Lyski）表示，他认为，随着未来几个月二手车市场的行情向好，该公司会日渐壮大 。
二手车销售员表示，他们公司和买家目前发现获得二手车贷款很容易 。但是大型银行富国银行本周表示，由于经济的不确定性，该行将停止向大部分二手车公司提供贷款 。
二手车销售商表示，最近的买家包括了收到了1200美元政府支票的人群 。政府向大多数美国人发放了这些支票来刺激经济发展 。
斯科特·艾伦（Scott Allen）表示：“本月我看到了很多笔首付款刚好为1200美元的订单 。”他是得克萨斯州沃斯堡市销售老旧二手车的Auto Land公司的老板 。从3月23日起关闭了将尽一个月时间后，艾伦5月份的销售额比以往同期的销售额增长了55% 。
但是新车和二手车行业都对未来感到担忧 。许多美国人租了两年新车，然后退还了这辆几乎全新的车 。今年预计将有超过4百万辆这样的车流回市场，相当于每个月将近34万辆 。这些汽车可能会涌入市场并迫使价格下跌 。