How Cars Are Defining the Recovery
One of the country’s most iconic and fast-growing industries doesn’t need American workers to work.
Young vs. old might not be the most important binary for car companies. That would be rich vs. poor. The U.S. is beginning to look like the aristocratic auto market we’re used to seeing in Europe, McAlinden said, where the top 25 percent buys most of the new cars and the bottom 75 percent only buys old and used. "Seventy-five percent of households here are relying on used cars, thinking ‘I hope that rich guy is done,’" he said.
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