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Data Point

CPO Sales Up Month over Month in May, On Record-Setting Pace

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Article Highlights

  1. Certified pre-owned (CPO) market performed well with 268,452 CPO units sold in May, a 4% month-over-month increase and a 13% year-over-year increase.
  2. CPO sales in May 2021 outperformed the same month in 2019 by 16,589 units.
  3. For the first five months of 2021, the CPO market is up more than 240,000 units above 2020 and 247,189 units above the 2019 level.

The certified pre-owned (CPO) market performed well with 268,452 CPO units sold in May, a 4% month-over-month increase and a 13% year-over-year increase. CPO sales in May 2021 outperformed the same month in 2019 by 16,589 units.

With 1,224,522 CPO units sold through May, CPO sales are up 25% versus the same time in 2020 and are above the same period in 2019 when 977,333 units were sold. 2019 set an all-time record for CPO sales at 2.80 million units. For the first five months of 2021, the CPO market is up more than 240,000 units above 2020 and 247,189 units above the 2019 level.

Highlighting the best CPO programs by automaker according to Autotrader, Kia was recognized for the 2021 Best Certified Pre-Owned Non-Program. Kia boasts a very impressive warranty, that makes it attractive to non-luxury CPO consumers. Kia has sold more than 34,000 CPO units year to date, a 28% year-over-year increase. Lexus’ L/Certified CPO program was chosen as Autotrader’s Best Certified Pre-Owned Luxury Program of 2021. Through May, Lexus has sold over 42,000 CPO vehicles this year, a 42% growth compared to the same time last year.

According to Cox Automotive estimates, total used-vehicle sales were up 3% year over year in May. We estimate the May used SAAR to be 41.0 million, up from 39.9 million last May and flat compared to April. The May used retail SAAR estimate is 22.4 million, up from 21.1 million last year and flat month-over-month from April.

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