Shoppers were increasingly drawn to “near-new” used vehicles with higher price tags in the second quarter, with the average price of a used car increasing 8% from last year, according to Edmunds.
Sales of certified pre-owned vehicles hit an all-time high of 2.3 million units sold in 2014, according to the latest Used Vehicle Market Report from Edmunds.com.
CNW says three million leases are set to expire in 2014, fueling the firm’s prediction of a solid year for the certified pre-owned market.
Volvo Cars of North America renews agreement with Carfax to provide vehicle history information for its CPO program.
Porsche renews agreement with Experian Automotive to use AutoCheck vehicle history reports for its Porsche Certified Pre-Owned program.
Kia and Scion to promote CPO vehicles on Cars.com's online marketplace.
Ford has selected Carfax to provide vehicle history reports to customers who take advantage of Ford and Lincoln certified pre-owned programs.
The addition of AutoCheck gives BMW and MINI dealers the ability to choose the vehicle history report that best meets their needs
Franchised dealers can certify their used inventory within hours of signing up for the program on the company’s website. The offering is also being made available to independent dealers.
Ford Motor Co. expects to realize 29 percent CPO growth over 2011.
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