Annual CPO Sales: Going forward, Cox Automotive’s CPO forecast for 2022 is 3.0 million, up from the previous year and higher than 2019. This year will likely be the last year of record CPO sales. based on reduced lease term after 2022.
Source: Cox Automotive
Cox reported Jan. 14. With 2,748,164 units sold in 2021, CPO sales beat Cox Automotive’s forecast of 2.8 million units, trailing 2019’s record performance of just 2.2. %, Cox reported Jan. 14. With 2,748,164 units sold in 2021, CPO sales have outstripped 2020 with a 5.4% increase.
“We have lost ground at the end of 2021, but we forecast a record hit in 2022,” said Cox Automotive chief economist Jonathan Smoke. “Demand is there, and CPO is a good fit for a position. very important. It is the best replacement for a new car. It’s a win for the manufacturer and many manufacturers are focusing on CPO as a strategic segment to introduce consumers to their brand. Consumers with good credit and who qualify for certified pre-owned loans will see significantly better terms or rates that make a big difference in their payments and that much more. is to offset the higher price of a certified pre-owned unit. And that is a win for resellers because on average they are offering a higher price and higher profit even with higher certification costs. “
Going forward, Cox Automotive’s CPO forecast for 2022 is 3 million, up from the previous year and higher than 2019. This year will likely be the last to see record CPO sales based on reduced lease terms year after year. 2022. This forecast is supported by what is expected to be a record tax refund season and the appeal of certified used vehicles to consumers desiring vehicles. like New.
December 2021 Sales CPO
Certified pre-owned (CPO) sales rose slightly to 186,748 units in December. These sales reflect a 3% month-over-month increase and a 19% decline year-over-year. December CPO sales rose after two months of declines, following strong performance in the first three quarters of the year.
Total used car sales fell 3.8% year-on-year in December, according to Cox Automotive estimates. December’s seasonally adjusted annual rate (SAAR) was estimated at 39.1 million , down from December’s 40.6 million and unchanged from November’s 39.1 SAAR. The December used retail SAAR estimate was 20.4 million, down from 21.6. million last year.
Originally posted on Vehicle Remarketing
