Edmunds Survey Finds High Interest in CPO Vehicles

Jes­si­ca Cald­well
Direc­tor of Indus­try Analy­sis
Edmunds.com

In an Edmunds.com sur­vey, 88% of 2,017 used car shop­pers polled said that if they were shop­ping for a used car they would be will­ing to pay more a cer­ti­fied pre-owned vehi­cle. Among these poten­tial CPO shop­pers, 37.8% said that they would spend up to an addi­tion­al $1,000 for the ben­e­fits of a CPO vehi­cle. The Edmunds sur­vey find­ings were released at a time when CPO sales are hit­ting their all-time high lev­els; Edmunds ana­lysts expect growth to con­tin­ue in the com­ing year.

Here’s the Q3 Used Vehi­cle Mar­ket Report

Used Vehi­cle Mar­ket Saw 2.5% Sales Increase in the Third Quar­ter:
CPO sales made up 21.8% of fran­chised used sales, a third quar­ter record.

With Aver­age Prices at $18,427, Used Car Prices Set Third Quar­ter Record:
Sub­com­pact cars only seg­ment to not see lift in trans­ac­tion prices.

Used Vehi­cles Will be Younger with High­er Vol­umes of Off-Lease and Rental:
High­er price point of younger vehi­cles blurs new vs. used dis­tinc­tion.

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