Industry Analysis

Used car market was a huge market with attractive growth opportunities during 1980s. It was estimated worth $ 375 billion market. Competition was so deeply fragmented that no single dealership could claim more than a few percentage points share of the used car market in any locale. New car dealerships were the largest sellers of used cars. 65 % of late model, used vehicles were sold by 21,800 new car dealers through out United States. However most of these new car dealers considered used cars a secondary business. The remaining 35 % was a mix of independent used car dealers and private sales. Between 1985 and 2001, the year over year change in used units sold averaged less than two percent up or down.

Several market trends in the early 1990s were encouraging used car buyers.
• First, the quality of new cars was improving; ‘A three year old car was considered old'. In 1994, U.S. had 46 million registered vehicles 12 years old or older, up from 18.9......

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Title: Carmax Hbr Case Analysis
Approximate Word Count: 1766
Approximate Pages: 8 (250 words per double-spaced page)

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