NEW YORK — Consumers often hear a car loses its value once you drive it off the lot, but that may not be the case anymore.
The automotive research firm Black Book found cars are now holding on to about 10% more of their value after three years than they were during the pandemic.
“Everybody was expecting a big drop, a shatter, an explosion, values to drop when supply came back. Totally didn’t happen,” Shane Sutherland, who owns the used car dealership Northport Motors, told CBS New York’s John Dias.
Sutherland told Dias his company Northport Motors grew tenfold during…