Used-car sales rebound, but carmakers don't

To hear auto industry executives tell it, a bump in used-car sales is a good sign. When General Motors turned its fix-it plan in to the Treasury Department last month, executives said that stability in used-car prices indicates that there is some underlying demand for cars. Both BMW and Audi have crowed that sales of their certified used cars are growing nicely. BMW says it’s on pace to beat last year’s record 104,000 certified used cars. But is it really a good sign?

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