The overall used-vehicle market is experiencing a weaker spring than expected
CPO Sales Rise Third Month in a Row
But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
Cox Automotive is forecasting a strong year for CPO at three million units, an increase year over year and above the record set in 2019.
With record numbers of lease-holders choosing to keep instead of return their leased vehicles, the pool of available CPO-eligible inventory is lower than usual.
Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
With two months left in 2021, reaching the revised Cox Automotive CPO sales forecast of 2.7 million units – and possibly matching the 2.8 million record-setting 2019 level – remains within reach.
With high prices and fast sales, dealers are selling cars before they get a chance to pull them into their shops to recondition them up to full CPO standards.
CPO sales are up 12% versus the same time in 2020 and are marginally above the same period in 2019 when a record-high 1,900,589 units were sold.
Near-record low new-vehicle inventory and record-high prices will keep certified pre-owned units as very attractive alternatives.
Vincentric has announced the winners of its 7th annual Best Certified Pre-Owned Value in America Awards and Ford, Subaru, and Lexus were some of the key winners.
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