Certified pre-owned vehicle sales continue to show great strength in 2023.<\/p>\n\n\n\n
Through July, CPO sales are up more than 7 percent compared to the same time period in 2022, according to a new report from Cox Automotive<\/a>.<\/p>\n\n\n\n In July, CPO sales were estimated at 231,128 \u2014 an increase of 24,700 from July 2022. CPO sales were also up 3.3 percent or 7,400 vehicles from June.<\/p>\n\n\n\n \u201cCertified pre-owned sales have been hotter than expected,\u201d said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive in a press release. \u201cCPO is up 12 percent versus last year and up 3.3 percent from June alone. Last month\u2019s sales were up 17 percent for domestics, 8 percent for European brands, and up 15 percent for Asian makes.\u201d<\/p>\n\n\n\n CPO sales in July outperformed retail sales, which were up 2.1 percent from July 2022. NIADA launched in January Certified 360 in January to give independent dealers a program to compete with franchise dealers. 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 Certified 360 covers vehicles up to 10 years old with up to 125,000, offering three term and mileage offerings:<\/p>\n\n\n\n
Several dealers around the nation are taking advantage of the CPO market, utilizing NIADA\u2019s Certified 360.<\/p>\n\n\n\n\n