Early figures show about 10% drop, but there was a late-year surge.
The interest rate factor actually buoys them, Cox says.
Certified pre-owned sales fell over 11% year-over-year in September and are off 5% since August, finds a Cox Automotive analysis of Motor Intelligence data.
The report, based on Cox’s analysis of Motor Intelligence data, reported 211,609 CPO sales in August.
The industry saw 14.3% month over month growth, but CPO sales still fell 23.3% short of 2021 sales for the same month.
All four of our currently available data points suggest that a dealer cannot charge a consumer for a CPO warranty at the point of sale.
Autotrader announced the 2020 Best Non-Luxury and Luxury Certified Pre-Owned Programs for 2020. Since today’s car shoppers are focused on value and affordability, CPO is a perfect option for a cheaper vehicle that has a manufacturer-backed warranty.
The expanded role is designed to boost customer retention at certified dealerships. Now, all Nissan and Infiniti CPO buyers get enrolled in the free myCarfax service so they can receive service and recall alerts from Carfax.
The index’s July reading shows that demand is absorbing the high supply of newer used vehicles. The good news on the new side is that inventories fell below four million and are at their lowest level of the year.
The magazine’s compliance guru breaks down the Federal Trade Commission’s final revisions to the Used Car Rule. His message to dealers is don’t overthink it.
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