Certified pre-owned sales continue to average more than 200,000 per month.
More than 2.4 million CPO sales have been made this year, a 7.6 percent increase from the first 11 months of 2022.
November sales finished at 205,863, according to new estimates from Cox Automotive. The tally was an increase of 3.8 percent from November 2022. It was down slightly from October’s sales.
“Some wind has come out of the sails this quarter compared to sales between April and September,” said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive. “Still, at no time this year have monthly sales been below 200,000, with the monthly average hovering above 219,000 compared to almost 206,000 in 2022.”
Launched in January 2022, NIADA’s Certified 360 aims to be more than just an option to enter the CPO market. In addition to working with the top administrators in the industry AUL, GWC Warranty, ProGuard and Southwest Dealer Services, Certified 360 offers a digital 115-point inspection through Carketa, the ability to buy parts through recon the vehicle through Technet and transport for vehicles through Acertus.
“Certified 360 is an entire program. It encapsulates everything, starting with the inspection,” said Jeremy Beck, NIADA Vice President of Dealer Development. “Our program is designed to be a one-stop shop from acquisition to selling the car and take care of it after.”
CPO programs, including Certified 360, are designed to help dealers sell confidence to consumers looking for confidence in their purchases. That’s why NIADA worked with trusted administrators AUL, GWC Warranty, ProGuard and Southwest Dealer Services to develop the program, which has three warranty options:
• 3 months or 3,000 miles for $199
• 6 months or 6,000 miles for $299
• 12 months or 12,000 miles for $399
The greatest potential value to dealers of Certified 360 is the added benefits on top of the warranty, the Carketa inspection, auto parts discounts from Technet and the ability to get cars transported between states and help with paperwork by Acertus. Though inventory has increased in recent months, the additional parts to the program will assist dealers in their search to fill lots and bring the vehicles to consumers they want.
“It’s a full-circle process,” Beck said.
For information about the NIADA 360 Program and to connect with an administrator, visit niada.com/certified-360.
