The used-car market is proving just as resilient as the overall auto industry, with shares of KAR Auction Services also up strongly and the National Auto Auction Association saying the fourth quarter was the industry's best of 2011 even with volumes down 3%. In the used-car market, volumes surged 9%, but Motley Fool blogger Christopher French thinks dealership networks like AutoNation, CarMax, and Sonic Automotive ( NYS: SAH ) will have varied degrees of success : "The long-term value creation potential of the domestic automotive dealership industry is weak compared to other more dynamic and growing industries due to its intense competition, low returns on invested capital, and low cash flow generation per dollar of revenue."