VP of Research & Market Intelligence
Certified Pre-Owned car sales continue to see growth in sales, and are up 10.6% over 2014. The percentage of shoppers who are aware of CPO has also increased significantly over previous years. While overall familiarity is higher in 2015 than in previous years, shopper awareness of which brands offer CPO programs is still relatively low. It provides an opportunity for OEM national and regional marketing and website messaging; dealers can advertise at local level and ensure staff can speak to the subject.
Most Car Shoppers Think Dealers Certify CPO Vehicles:
Purchase interest increases when they learn its manufacturer program with warranty and inspection.
New Car Shoppers Willing to Pay $2,174 More for CPO, Used Will Pay $2,006:
Shoppers for luxury new and used are willing to pay even more for CPO vehicles.
Millennial CPO Owners More Likely to Buy New Car from Same Brand:
Most CPO owners say they’ll purchase from same dealership again.