Economic slump drives used car sales, prices up
Maybe, just maybe there's another (additional) reason demand for new cars is drying up, and used cars are in demand: The FairTax.
When you buy a used car (under the FairTax) you pay no taxes, versus (at least 23%) on a new one. The Invisible Hand at work?
I don't expect to see new cars recover until they figure out how to make electric cars more affordable, and improve the range. Next year's Volt at $40k and 40 miles w/o a charge, is not going to cut it. And of course clear up the lots of unsold new cars.
Just a thought