Certified Pre-Owned Sales Up Despite Industry Woes
Despite the huge drops in new and used car purchases, Edmunds AutoObserver is reporting that certified pre-owned sales were up across the industry in 2008. Not even a dismal fourth quarter could prevent an overall growth of 1 percent from 2007. Mercedes-Benz's CPO sales rose 27 percent for the year, with December seeing a 61-percent surge. Infiniti experienced a 150-percent CPO growth. GM was the only manufacturer mentioned that experienced a decline, but even it was a modest 5-percent drop.
Read the full AutoObserver story: Certified Pre-Owned Sales Become Industry's Only Bright Spot
The article goes in depth regarding the various sides of this CPO success story: the dealers, manufacturers and consumers. Also, it explains reasons why CPO is going one way while the new and non-certified used cars are going in another. It is particularly interesting how dealers are anxiously awaiting the arrival of end-of-lease returns with the same vigor normally reserved for new car launches.
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