BMW, Mercedes step up used cars push to combat slump
Jun 23, 2013
With fewer and fewer Germans buying new cars, Bayerische Motoren Werke AG, Daimler AG and Volkswagen AG are trying the next-best thing: pushing second-hand models. Counting on the cachet of their brands, German automakers are stepping up efforts to cash in on the growing used market as new-car demand withers. The push, which includes leasing offers and fast-track loans, helps attract new buyers for models beyond the reach of many consumers, increasing competition for mass-market nameplates. For