February 25th, 2008 at 5:00pm
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What’s the fastest growing segment in the car market? No, it’s not hybrids, or small cars, or crossovers. In fact, it has nothing to do with new cars.
The used car market in America is growing every single year. And when you bore down into the numbers, it turns out that certified used vehicles are the fastest growing segment in the industry.
These are fairly new used cars that automakers certify with intensive inspections. They come with a factory warranty and you can even finance them just like buying a new car.
People seem to love these things, because sales of certified used cars are up 137 percent since 2001. And interestingly, this is a segment that General Motors dominates, handily outselling Toyota, Honda, Ford and Chrysler.