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
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 →
Kia Embraces Clean Energy
A Kia Georgia partnership combines weather protection and renewable energy in a new solar canopy system at Kia’s West Point facility.
Read More →
Honda-Sony Venture Dismantled
For nearly four years, the companies had worked toward the launch of the electric-vehicle brand’s first two models, but the shifting EV market scuttled the plans.
Read More →
Wireless EV Charging is on the Horizon
In what Porsche says is an industry first, its 2026 Cayenne is joining the automaker’s electric SUV lineup with an optional inductive charging system that can be purchased with the vehicle.
Read More →
EV Battery Cycle Life at Risk
Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
Read More →
Automaker Increases Parts Recycling
Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.
Read More →
Charging Challenges
An annual J.D. Power study finds eroding home EV charging contentment, though there are ways owners can boost theirs. The firm sees auto dealers playing a role.
Read More →