General Motors has been trying a variety of new ideas as it seeks to become profitable following a government bailout. One of them was a partnership with online auction site eBay, but low prices aren’t likely to be found on new cars there anytime soon, opening up the possibility of looking for inexpensive used cars in New Jersey instead.
In fact, dealers told the Wall Street Journal that they were consistently receiving bids that were far below the market value of the car, and that sifting through them was a hassle, along with the fact that there did not seem to be much interest.
“Being the first manufacturer out there to put new vehicles online, I think in just that six-week period, it shows you that there were a lot of people looking at these vehicles who weren’t looking at those vehicles before,” GM spokesman John McDonald told cnet. “We’re not fire-selling vehicles on eBay, [so] there’s a certain amount of user education in that, and a certain amount of dealer education.”
The bids made that were too low for new car dealers may receive more attention from those selling used cars in New Jersey, however, because of price depreciation.