Fear of an Impending Car-Price Collapse Grips Auto Industry

[Top_Fuel]

I'm not in the market for a new car. However...if I see crazy incentives coming, I will take a look at what's out there. How do you think I ended up in a Mirage in the first place?

If you are thinking about a new (or used) car purchase right now, I would sit back and wait to see what happens. Sounds like it could be a buyer's market for anything with wheels...

The auto industry -- already fretting lengthy factory shutdowns and depressed new-vehicle demand -- is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.

Used-vehicle auctions are for now virtually paralyzed, much like the rest of the economy. The grave concern market watchers have is that vehicles already are starting to pile up at places where buyers and sellers make and take bids on cars and trucks -- and that this imbalance will last for months.

Link to full story here