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.
CPO sales YTD 2017 are 1.1 million (up 1.6% year-over-year).1
CPO sales for 2017 are expected to be between 2.7 – 2.9 million.2
21% of franchised Used sales are CPO vehicles.3
On average CPO vehicles sell in 30 days (vs. 35 days for Used non-CPO).4
Top reasons consumers buy CPO
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.
- Autodata (January – May 2017)
- Cox Automotive Analysis
- 2016 Cox Automotive Dealer Profiles Research (conducted with Vital Findings)
- 2016 Cox Automotive CPO Study