Just in case you thought the economy wasn’t so bad, here’s real weirdness: Used cars selling for more than new cars. How can that be?
By John Reed, Motor Industry Correspondent
Published: April 8 2009 21:10 | Last updated: April 8 2009 21:10
In one of the most striking signs yet of the conflicting pressures buffeting the automotive industry, some new cars are now selling more cheaply than used vehicles.
A shortage of good-quality used cars combined with aggressive discounts offered on many new ones by retailers and manufacturers now mean that some new cars can be had for as much as £1,000 less than used ones in good condition.
And here’s more, Moody’s downgrading itself(?)
By Justin Baer in New York
Published: April 9 2009 00:41 | Last updated: April 9 2009 00:41
Warren Buffett’s Berkshire Hathaway lost its triple-A grade from Moody’s Investors Service, the very ratings firm in which the billionaire holds a 20 per cent stake.