CPO Sales Soar 10% in First Quarter
Dealer strategy shifts are bearing fruit, finds Cox Automotive's most recent report.
The monthly average CPO sales volume is up nearly 7,000 units versus 2022’s monthly average.
Tom Fisk
CPO sales are soaring in 2023. In fact, they're up 10%, or nearly 59,000 units, over the first three months of 2022, finds Cox Automotive's CPO sales report.
Cox says CPO sales finished 2022 at 2.47 million units, a decline of nearly 280,000 units, or 10.2% from 2021 CPO sales.
According to Chris Frey, senior manager of economic and industry insights, “CPO sales have seen a pop to start the year compared to 2022. The monthly average sales volume of 212,000 is up nearly 7,000 units versus last year’s monthly average. As we’re clawing our way back to pre-pandemic levels, shifts in strategies for CPO may be bearing fruit. While we don’t have full visibility into what age and mileage constitute total sales, expanding the pool of eligible vehicles could be a boon to the CPO market.”
According to Cox,Toyota had the highest CPO sales volume in March. Hyundai had the largest year-over-year percentage gains, while Honda saw the largest decline.
Originally posted on Auto Dealer Today
More Product & Technology
Set Yourself Apart
Product providers can follow the lead of industry cohorts in the practice of leveraging their brands through private labeling, pumping new energy into their platforms to stand out from competitors.
Read More →
EVs Excel at Longevity
Research finds that after a certain mileage point, they outlast gas and diesel vehicles despite being driven more.
Read More →
Integrating AI Into Your Admin System
It’s important for finance-and insurance administrators to build the technology into their existing systems instead of bolting it on.
Read More →
Public EV Charging Improves
The infrastructure buildout in the U.S. is providing more availability and safety at a better cost, according to the latest EV experience study by JD Power.
Read More →
AI in the Dealership
A Cox Automotive poll shows most dealers use it, but only some have found the smartest ways to adapt the surging technological sensation.
Read More →
AAA Honors Service and Repair Facilities
Three automotive dealerships made AAA's Service Providers of Excellence and Best in Repair list this year.
Read More →
EFG Launches Product Admin Platform
The company says the offering is designed to empower administrators, service contract providers, and product marketers to expand automotive and power-sports capabilities.
Read More →
Optimized Charging Could Reduce Costs
According to an Alliance for Automotive Innovation analysis, optimized EV charging could cut costs for drivers and improve grid infrastructure - potential adoption incentives.
Read More →
From Inspection to Impact
Data, video and artificial intelligence are driving service performance today, when inspection performance is closely tied to key business outcomes.
Read More →
Car Karaoke Gets Official Platform
The in-vehicle karaoke and sing-along platform by Samsung arm is meant to add traveling enjoyment safely in technology that automakers can tailor to their specific needs.
Read More →