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
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