As Autodata has been reporting for quite a while, certified pre-owned (CPO) vehicle sales are surging. A new report from Edmunds.com sees it becoming more popular than ever – 21% of all used vehicle sales in the US, the largest share ever. The report, which evaluates the landscape of America’s used car market through the first quarter of 2013, found that CPO sales this year are up 6.2% over Q1 2012.
“Car manufacturers love certified pre-owned programs because they attract new customers, strengthen loyalty and help to move off-lease inventory,” said Edmunds.com Director of Used Car Analysis Joe Spina. “We can expect even higher levels of CPO sales later this year as dealers absorb a growing influx of lease returns.”
Car shoppers have more confidence in CPOs and will pay more than regular used cars because of their confidence in the reliability. Extended warranties and 100-point inspection plans are alleviating many of their concerns.