It looks like September is going to be a good month for independent used-car dealers. In fact, the used-car market could increase more than 8% this month, says a new report from CNW Marketing Research, marking a significant year-over-year uptick.
CNW expects that used-car sales will rise to 3.49 million units this month, up from 3.23 million units in September 2011. Sales at independent dealers are on track to climb 10% this month, with 1.29 million vehicles sold.
In its data, CNW also observed that franchised dealers are expected to post an 11.7% gain, on pace to sell 1.33 million used cars this month.
How can this be government interference? If a private bank makes a business loan to a business it has every right to set the debt covenants to what ever it wants. From the banks perspective they are more concerned with getting paid back than having the business be more profitable, which is understandable. Why is it that when the government bails GMAC out the debt covenants that it mandates are “government interference” rather than just business?