\u201cApril CPO sales took it on the chin compared to March, but the pace was healthier than either January or February,\u201d said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive in the report. \u201cThe current year-to-date sales pace of 213,000 is about 7,500 better than last year, but it\u2019s also down by 21,000 from the pre-pandemic monthly average.\u201d<\/p>\n\n\n\n High interest rates, above 12 percent, and low inventory, less than a 45 day supply of used vehicles, contributed to the lagging CPO sales.<\/p>\n\n\n\n \u201cHigher interest rates and the looming concerns of a recession likely contributed to the CPO sales decline, with buyers pulling back from last month,\u201d Frey said. \u201cWe still think the strategy shift mentioned last month will pay off, with older units entering the mix, but after April\u2019s sales decline from March, it looks to be a bit longer before we see sustained sales improvement from the larger pool of CPO-eligible units.\u201d<\/p>\n\n\n\n To compete with the franchise dealers\u2019 programs, NIADA launched in January CPO 360. The CPO program helps independent dealerships increase buyer confidence and their profitability.<\/p>\n\n\n\n \u201cThe independent world never had a true CPO program. This is a true CPO limited warranty program,\u201d said NIADA Vice President Jeremy Beck. \u201cIt allows the independent dealer to be on par with manufacturers and have a leg up on other independent dealers.\u201d<\/p>\n\n\n\n NIADA developed the program working with the top administrators in the industry AUL, GWC Warranty, ProGuard and Southwest Dealer Services. NIADA also partnered with Carketa to provide a completed digital 200-point inspection to help dealers streamline their inspection process.<\/p>\n\n\n\n \u201cWe put together highly respected administrators known for their claims and customer service experience,\u201d Beck said. \u201cThey provide a level of confidence for the independent car shopper. These administrators are respected by dealers and known by customers.\u201d<\/p>\n\n\n\n The program is easy to implement and affordable. The NIADA CPO covers vehicles up to 10 years old with up to 125,000, offering three term and mileage offerings:<\/p>\n\n\n\n \u2022 3 months or 3,000 miles for $199![\"\"](\"https:\/\/niada.com\/dashboard\/wp-content\/uploads\/sites\/2\/2023\/05\/cpo-april-1024x527.jpg\")
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\u2022 6 months or 6,000 miles for $299
\u2022 12 months or 12,000 miles for $399<\/p>\n\n\n\n