Data Point
CPO Sales Jump In November, Record In Sight
Monday December 16, 2019
Article Highlights
- Sales of certified pre-owned (CPO) vehicles increased 15% year over year in November.
- This year CPO sales are up 4% versus 2018.
- The CPO market is just 127,000 units shy from matching last year’s record total of 2.70 million vehicles.
Sales of certified pre-owned (CPO) vehicles increased 15% year over year in November and were up 3% month over month compared to October. For the month, 237,467 CPO units were sold.
This year CPO sales are up 4% versus 2018, growing at a comfortable pace above 2018’s record-setting performance and exceeding 2.5 million sales through November. This means that the CPO market is just 127,000 units shy from matching last year’s record total of 2.70 million vehicles. The Cox Automotive forecast for 2019 CPO sales is 2.75 million vehicles as the market looks to set another record.
As has been the case all year, Toyota, Honda and Chevy continue to be the biggest players in the CPO market, collectively representing almost a third of all CPO sales. Those three plus Ford and Nissan account for 47% of CPO sales in 2019, reflecting that more brands have increased CPO sales this year. Last year, Toyota, Honda, Chevy and Nissan accounted for 48% of the total industry CPO sales.