You probably haven’t given much thought to the used car industry, aside from engaging with it to buy or sell your own used vehicle. But, there are lots of things that may surprise you.
Silver sits atop the mountain of color choices when it comes to used cars. Black is a close second, with white, red, blue, and gray rounding things out. An assortment of appreciated colors ensures that there’s something for everyone.
Automatic cars outnumber manual vehicles by 10 to 1. It’s pretty obvious that just about everyone prefers driving an automatic car, and the number of people that even know how to operate a manual vehicle is on the decline.
The used car market is bigger—much bigger—than the new car market, even though you see a lot more advertising for the newer car industry. Funnily enough, 75% of cars sold are used. For most people, this fact is one of the most surprising things on the list!
When you consider both those who own a car from the time it’s made to the time it falls apart as well as the cars that reach several owners, the average ends up being three owners over a car’s lifetime!
By far the most popular type of engine is the V6—probably because it offers that Goldilocks “just right” level of speed versus gas mileage. It has enough power to pin you back in your seat, but not so much that you’ll end up with a speeding ticket each month.