Certified pre-owned vehicle sales are still increasing in sales volume, according to Autodata Corp. For the first two months of the year, CPO sales have climbed nearly 10% from a year ago. It was the best February ever for CPO sales and strongest daily selling rate ever, following behind the best January ever; and 2012 had been the best year ever.
So the question is – how did this happen? CPO vehicles cost about $1,000 or more than their used non-CPO counterparts. Why would people pay more?
• OEMs are now dedicated to establishing CPO programs and all that they entail – inspection points, extended warranty coverage, condition reporting, and making them look nearly new inside and out.
• Working with dealers on marketing programs in nationwide campaigns, local media, and internet marketing.
• Emphasizing previously owned luxury cars, full-size cars, SUVs, and crossovers. CPO buyers are generally going to be higher income and want a clean, less expensive version of their favorite make and model.
