CNW Market Research analysis shows 4,100+ independent dealerships closed in 2008

Lack of sales due largely to tight credit markets

Many lack service and parts department buffers to help combat slow retail sales

Per-store unit volume still shrank from 302 average vehicle sales per outlet to 283.2

Independent dealers have held 32% of used-vehicle market

Consumers' purchase preferences for used models moved ahead of new units

Used-car key market (10+ yrs, 110K miles) is growing at significant rate

Credit is still tight but getting easier

Larger used sellers could see significant profits in latter part of spring/early summer

"Without the benefit of other departments such as service and parts, nor the ability to find sufficient lending sources especially for the lower near-prime and subprime customers, most independents found themselves in a financial quagmire." -- Art Spinella, president, CNW Market Research

"All in all, even in the dimness of the current economy, the outlook is actually improved. Prices are clearly firming up at both wholesale and retail." -- Spinella