In the last few years, the new and used car market has experienced a great deal of change. Car sales have dipped and risen since 2020, when the global Coronavirus pandemic precipitated a 14% reduction in car sales as consumer behavior changed with remote work. In the years since and amid a shortage of cars, buyers have returned to similar pre-pandemic purchasing behaviors.
These industry fluctuations may leave drivers wondering what happens to unsold inventory on car lots. Might the vehicles be sold at a discount?