Into Chicago's Congress Hotel one night last week trooped some 200 members of the Greater Chicago Used Car Dealers Association. They were a gloomy lot. Their sales had dropped steadily since autumn; with plenty of new cars around, used-car prices had plummeted as much as one-third since last June. The dealers had hoped that the warm weather would give their business its usual seasonal upswing.
This year it did nothing of the sort; instead, business got worse.
It was the same all over the U.S. Along Detroit's Livernois Avenue, the used-car center of the Midwest, buyers were scarce. Bert Baker, one...
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