Big Drop in CPO Sales, but Market Set for 2021 Rebound
Thursday December 10, 2020
Auto Remarketing, Dec. 10, 2020 – Certified pre-owned sales took major tumbles on both year-over-year and month-over-month bases in November, but that shouldn’t cause alarm about the overall strength in CPO, according to Cox Automotive.
The 21% decline from November 2019 admittedly could be seen as “a big shock to the market,” but that slowdown was largely driven by last month having three fewer selling days than the year-ago period, says Kayla Reynolds, an economic industry intelligence analyst at Cox Automotive. Moreover, the 20% decline from October is essentially a normalization following strong summer and autumn CPO sales, the company said in a Data Point report released Thursday.
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