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US used-car glut good news for dealers, buyers

But for carmakers such as GM, Ford and Fiat Chrysler, the oversupply means stagnating stock prices amid slowing demand for new vehicles after years of rising sales

Published Sun, May 14, 2017 · 09:50 PM
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Orwell, Ohio

THREE years ago, if a customer walked onto Dan Reel's used-car lot seeking a late-model off-lease Ford Escape, his answer was short: tough luck.

The supply of lightly-used cars and trucks was tight because carmakers had drastically cut back on bargain leases during and after the Great Recession.

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