MENU
SEARCHCox says their sales fell 10% month-over-month, though they’re still outdoing overall used market for the year.
Cox expected CPO sales to be stronger for the month, as they’re besting the overall used-vehicle market for the year and are still on target to meet its full-year forecast.
IMAGE: Pixabay/andreas
Certified preowned sales were essentially flat in October, down a mere 0.2% year-over-year to just over 207,000 units, though month-over-month sales fell 10%, said Cox Automotive said, which indicated that one fewer selling day contributed to the dip.
Cox expected CPO sales to be stronger for the month, as they’re besting the overall used-vehicle market for the year and are still on target to meet its full-year forecast of 2.7 million units.
“Consumers may have chosen new over nearly new in October,” ventured Cox Senior Manager of Economic and Industry Insights Chris Frey in a press release. “With growing inventory levels, we saw healthy new-vehicle sales in October.”
CPO vehicles have done well since the pandemic due to high new-vehicle prices and limited new inventory until recently revived supply. So far this year, more than 2.2 million of them have sold in the U.S., up about 8% year-over-year, according to Cox data. Their sales are also exceeding those of the overall used-vehicle segment, which fell 0.4% month-over-month to three million.
It said luxury CPOs are up 11% year-to-date and nonluxury units up 7%. Asian brands are outdoing both European and the big Detroit three, up 12% to their 6% and 2%, respectively, Cox said.
Originally posted on Auto Dealer Today
First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
Read More →
At nearly 14%, California had the lowest zero-emission vehicle market share in the first quarter since the fourth quarter of 2021, according to the California New Car Dealers Association.
Read More →
EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
Read More →
Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
Read More →
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
Read More →
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
Read More →