AUTOS: Used Cars Wanted

Only eight months ago used-car lots in many sections of the U.S. were packed with unsold cars on which the prices were plummeting. In San Francisco one dealer surveyed his bumper-to-bumper lot and wailed: "This is the first time a customer can buy a one-year-old car at 50% of its cost when new." But by the end of July the whole picture had changed to what the Automotive News called a used-car shortage of "near-drastic proportions." Accordingly, prices were rising.

In Chicago last week, dealers were dropping "Used Cars Wanted" signs into their showroom windows; in Seattle, Dallas, Omaha and...

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