CPO Sales Increase as Dealers and Car Shoppers Access Used Car Listings and Reports

It wasn’t long ago that automak­ers and deal­ers won­dered if cer­ti­fied pre-owned (CPO) vehi­cle sales would take off, with car shop­pers being will­ing to pay more than for that same non-cer­ti­fied used vehi­cle on their deal­er lots. There was also con­cern about the vehi­cle safe­ty and reli­a­bil­i­ty inspec­tion being accu­rate and trust­wor­thy. The lat­est report for Auto­da­ta shows that car shop­pers are becom­ing more con­fi­dent with the CPO process and the vehi­cles that they pur­chase.

Last year was the fourth con­sec­u­tive best-ever year for CPO sales, while Decem­ber 2014 was the best Decem­ber ever and the fourth quar­ter of last year reached the high­est ever in quar­ter­ly sales. There were 2.34 mil­lion in CPO sales last year, which was up near­ly 11% over 2013; Decem­ber saw 200,671 CPO units moved in Decem­ber – 17.2% over Decem­ber 2013. Six­teen auto­mo­tive brands report­ed their best year-ever in CPO sales dur­ing 2014: Audi, Chrysler, Fiat, Ford, Hyundai, Infini­ti, Kia, Land Rover, Lexus, Maz­da, Maserati, Mer­cedes-Benz, Mini, Nis­san, Porsche, and Sub­aru.

CPO sales have helped fran­chised deal­ers build their used vehi­cle oper­a­tions in recent years. When you talk to deal­ers, they always men­tion the chal­lenges and oppor­tu­ni­ties of work­ing with inter­net-savvy car shop­pers these days. One resource that’s help­ing them post these record sales is CARFAX. In fact, over 90% of OEM-cer­ti­fied vehi­cles come with a CARFAX Vehi­cle His­tory Report. That gives car buy­ers added peace of mind and builds their con­fi­dence. An addi­tional ben­e­fit for the deal­ers of 31 OEM Cer­ti­fied Pre-Owned Pro­grams, includ­ing Ford, Toy­ota, Nis­san and Hyundai, is that those OEMs have part­nered with CARFAX to ensure that every CPO unit is list­ed on CARFAX® Used Car List­ings™.

As was report­ed in Used Car Mar­ket Reports’ read­er sur­vey last month, deal­ers are inter­est­ed in used car list­ing ser­vices but shared that it’s becom­ing a chal­leng­ing sales chan­nel for deal­ers to man­age. Deal­ers under­stand that used car list­ing sources have become a grow­ing and increas­ing­ly impor­tant chan­nel for remar­ket­ing, but the prof­it mar­gin on these trans­ac­tions need to make it worth­while. CARFAX® Used Car List­ings™ quick­ly con­nect cus­tomers look­ing to buy and deal­ers look­ing to sell.

To learn more about CARFAX® Used Car List­ings™, call 888–788-7715.  Or vis­it CARFAX at NADA Booth #3505N Jan 23–25. To reg­is­ter for your one-on-one demo at NADA, vis­it www.YourNewCarfax.com.

 

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