Key consumer research
Certified Pre-Owned (CPO)
Wednesday October 18, 2017
CPO (Certified Pre-Owned) sales will continue to grow as increasing consumer demand is met with new supply from off-lease volumes. Shoppers see the value of CPO because it gives those who can’t afford a new vehicle the opportunity to have similar technology along with the peace-of-mind that comes with CPO warranty coverage.
M
cpo sales (2017)
CPO sales YTD 2017 are 1.1 million (up 1.6% year-over-year).1
M
expected cpo sales (2017)
CPO sales for 2017 are expected to be between 2.7 – 2.9 million.2
%
Franchised used sales (CPO vehicles)
21% of franchised Used sales are CPO vehicles.3
10
days
average cpo
vehicle turn
vehicle turn
VS.
10
days
average non-cpo vehicle turn
On average CPO vehicles sell in 30 days (vs. 35 days for Used non-CPO).4
Top reasons consumers buy CPO
PEACE OF MIND
WARRANTY'S SAFETY BENEFITS
The top reasons consumers buy CPO are “peace of mind” and “warranty’s safety benefits”.5
Check out the other Key Consumer Research insights to learn more.
Tags
- Autodata (January – May 2017)
- Cox Automotive Analysis
- NADA
- 2016 Cox Automotive Dealer Profiles Research (conducted with Vital Findings)
- 2016 Cox Automotive CPO Study