Virus Set to Snap CPO Sales Streak in 2020
Monday October 5, 2020
Automotive News, Oct. 5, 2020 – After nine straight years of setting records, sales of certified pre-owned vehicles are set to decline in 2020. Blame the coronavirus pandemic.
CPO sales took a hit in the spring when many dealerships were shut down for several weeks and shoppers stayed home on government orders. While the numbers have since rebounded, total CPO sales in the U.S. fell 8.8 percent to 1,732,964 vehicles through August, according to the Automotive News Data Center.
For the full year, Cox Automotive forecasts CPO sales of 2.6 million vehicles, compared with 2.8 million vehicles in 2019.
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