Certified Pre-Owned

CPO winners honored at Used Car Week

LA QUINTA, Calif.  - 

IntelliChoice, Vincentric and U.S. News & World Report each recognized certified pre-owned program award winners during the Used Car Awards luncheon, sponsored by TradeRev. 

The luncheon, which also recognized other dealer-level and industry awards, was held during Used Car Week in La Quinta, Calif., last week.

Starting with IntelliChoice, Kia earned honors as the Best Popular Program Award winner, while Volvo was recognized as the Best Premium Program.  

Its full list of winners is below: 

— Best Premium Program Award: Volvo

— Best Premium Warranty Award: Volvo

— Best Premium Brand Used Ownership Costs Award: Cadillac

— Best Popular Program Award: Kia

— Best Popular Warranty Award: Kia

— Best Popular Brand Used Ownership Costs Award: General Motors

“CPO warranties and special financing offers are two important elements of CPO programs as identified by buyers, and are also the two elements that see the most changes from year to year as manufacturers look for ways to attract consumers,” Intellichoice analyst Debbie Eldridge said in a news release.

“Several manufacturers now offer multiple warranties based on the age and mileage of the vehicle, and some manufacturers offer special financing every month while others will have specials throughout the year.”

 gave its inaugural Best Certified Pre-Owned Program honors to Lexus.

At Vincentric, winning the brand awards this year were Ford, Lincoln, Toyota and Audi. Ford secured the most model-level awards, as well, receiving recognition in eight categories. 

A full recap of Vincentric’s awards can be found here.

Stay tuned to the Dec. 15 issue of AuSM for a full rundown of these awards and others that were recognized during Used Car Week. 

Ford stands out in Vincentric 2017 Best CPO Value in America awards

LA QUINTA, Calif.  - 

Vincentric announced the lineup in its fifth annual Vincentric Best Certified Pre-Owned Value in America awards on Tuesday. Winning the brand awards this year were Ford, Lincoln, Toyota and Audi. Ford secured the most model-level awards, as well, recieving recognition in eight categories. 

The Blue Oval received brand awards for the CPO trucks, SUVs & crossovers, and vans categories, and Lincoln came out on top for the CPO luxury SUV & crossover category. Toyota secured the brand award for best CPO passenger car, and Audi won for the best CPO luxury car.

In addition to the brand awards, for each vehicle segment. Hyundai, BMW, Volvo, Chevrolet, Lexus and Honda all had multiple winners as did Ford, Lincoln, Toyota and Audi. Ford led the pack with eight model-level awards. This is how results broke down for the brands with multiple model awards: 

  • Hyundai: Hyundai Elantra, compact hatchback; Hyundai Veloster, sports car
  • BMW: BMW 4-Series, luxury coupe; BMW i3, luxury electric/plug-in hybrid
  • Volvo: Volvo S80, premium luxury mid-size sedan; Volvo V60, luxury wagon
  • Chevrolet: Chevrolet Corvette, luxury sports car; Chevrolet Silverado 2500, full-size 3/4-ton pickup
  • Lexus: Lexuc CT 200h, luxury hybrid; Lexus RX 450h, luxury hybrid SUV/crossover
  • Honda: Honda CR-V, compact SUV/crossover; Honda Odyssey, minivan
  • Toyota: Toyota Yaris, subcompact; Toyota Corolla, compact; Toyota Camry; mid-size; Toyota Avalon large sedan; Toyota Rav4 hybrid, hybrid SUV/crossover; Toyota Tacoma, small pickup 
  • Ford: Ford Fusion Hybrid, hybrid; Ford C-MAX Energi, electric/plug-in hybrid; Ford Flex, large SUV/crossover; Ford F-150, full-size 1/2-ton pickup; Ford F-350, full-tize 1-ton pickup; Ford Transit Connect, small commercial van; Ford Transit, large passenger van; Ford Transit, large cargo van 
  • Audi: Audi A3, luxury compact; Audi A5, premium luxury mid-size coupe; Audi S7, premium luxury large sedan; Audi A5, luxury convertible
  • Lincoln: Lincoln MKZ, luxury mid-size sedan; Lincoln MKC, luxury compact SUV/crossover; Lincoln MKX, luxury mid-size SUV/crossover

Highlighting Vincentric’s methodology for the award program, to determine the 2017 Vincentric Best CPO Value in America award winners, the company conducted a statistical analysis to reveal which vehicles had lower than expected ownership costs given their market segment and price. 

The company shared it analyzed over 15,000 vehicle configurations using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost and repairs. And each CPO vehicle was evaluated in all 50 states and Washington D.C.

“The Vincentric Best CPO Value in America Awards enable consumers to make informed decisions when purchasing vehicles,” said Vincentric’s president, David Wurster.

“Comparing CPO vehicles which have different mileage, warranties and age can be challenging, and our awards can help simplify the decision-making process using our data-driven evaluations,” he continued.

On a national level, certified pre-owned vehicle sales were down 3.3 percent in October, but the year-to-date pace is still on par with the record figures from a year ago.

According to Autodata Corp., there were 200,240 CPO sales for the month, compared to 207,105 certified sales in October 2016.

However, the 2.22 million certified sales through 10 months of the year is up 0.6 percent from the tally from the same period of 2016.


US News names Best CPO Program


U.S. News & World Report announced its inaugural Best Certified Pre-Owned Program winner on Tuesday, recognizing the automaker that best provides peace-of-mind for CPO buyers.

Winning the award in its debut year is Lexus.

U.S. News & World Report will also recognize Lexus during the Used Car Awards luncheon, sponsored by TradeRev, this coming Tuesday at .

In a news release, pointed to Lexus’ lengthy CPO warranty (which includes up to two years of coverage with no mileage limit or deductible), strong certified pre-owned benefits and its used-dependability as primary reasons the brand won.

Other CPO benefits include free roadside assistance and a free loaner car. Additionally, Lexus CPO owners can utilize four complimentary factory maintenance service visits, so long as they use them within the first two years/20,000 miles of owning the car.  

“The certified pre-owned program from Lexus gives consumers confidence across the board,” said Jamie Page Deaton, managing editor of U.S. News Best Cars, in a news release. “The warranty coverage and program perks are excellent, and Lexus' record of dependability means that consumers may never need to use it.” 

Study: Brand loyalty, growing mass market interest give rise to luxury segment sales

CARY, N.C. - 

Luxury sales have steadily grown over the past three years due to the segment’s consistent owner loyalty and growing appeal among mass market vehicle owners, according to recent data from Jumpstart Media.

The luxury segment currently accounts for 13 percent of total sales, up 3 percent from 2014, shows the company’s latest auto shopper study in collaboration with Ipsos Connect,

At 36 percent, a larger number of mass market owners say that they are interested in upgrading to a luxury vehicle.

Across Jumpstart sites, 34 percent of shoppers are researching luxury vehicles, up 4 percent from 2014, according to the company.

With the addition of more entry-level options offered at lower prices, a number of luxury brands have become more accessible to mass market owners in recent years, says Jumpstart senior web analyst Brian Miller.

“You’re seeing a lot more entry-level luxury options from traditional high-end brands such as BMW with its 1-Series, as well as Mercedes-Benz, Lexus and even Audi. Each of these brands realize the competitive forces being brought from mass-market producers and have focused significantly in competing for the entry-luxury shopper’s interest. I think the CLA-Class and A3 are the biggest examples,” Miller explained in an email interview with AuSM.

The amount of CPO options available today can be a draw for many of today’s mass market owners as well, according to Miller.

“The rise in luxury has certainly played a large role in the rise of CPO choices over the last few years. This, combined with the fact that a third of all vehicles have been leased in a very hot auto market now for several years, with luxury defining much of the leased market, means CPO has a lot of luxury choices today, and will for years to come,” he said.

Miller also acknowledges that maintenance costs associated with luxury vehicles can bring anxiety to both prospective and current owners.

The study found that 56 percent of mass market owners purchase a non-luxury car as their primary vehicle due to cost of ownership, and 41 percent of luxury owners spent more on maintenance than they expected.

“On average, maintenance cost in the past year has been two times greater among luxury owners versus mass market,” Miller said.

“The point here is that more so in the luxury market than the mainstream market, maintenance costs are a huge concern. It not only keeps people out of the segment, but is a huge pain point for those who currently own luxury. We heard in the qualitative that CPO helps bring peace of mind, so we do feel that the proliferation of CPO can be attributed to luxury.”

Because of price and value, Miller points out that non-luxury choices fitted with advanced technology and features have also appealed to consumers in recent years.
“The traditional luxury brands will always carry with them a healthy amount of fans due to brand loyalty. No doubt, these brands have worked hard over the years to build this loyalty, and the quality in their vehicles is among the most evident reasons why. That being said, there are a growing number of auto shoppers on the fringe that are just as interested in price and value, as much as they are interested in luxury features. This group will continue to explore choices produced by mass-market manufacturers.

When asked, “Which of the following attributes best describes luxury to you?,” nearly twice as many owners defined luxury as quality versus innovation.

Sixty-eight percent of luxury owners stated “quality”, while only 36 percent said “innovation.”

Among non-luxury owners, 93 percent listed “excellent quality” as a must-have for a luxury vehicle purchase, according to Jumpstart.

To capitalize on growing mass market interest in luxury, Miller said marketers should concentrate on promoting quality brand experience.

“Based on what we found in the latest joint report with Ipsos, auto marketers must focus on a quality brand experience in order to capture the interest and loyalty of today’s luxury shopper,” he said. “Gone are the days of retaining a customer just on brand alone.

“Marketers that successfully grow share in luxury will offer the right experience that includes service and maintenance options, and they will focus on demographics, cultures and age groups outside of yesterday’s perception of more established shoppers by age,” Miller continued.

Additionally, the study found that luxury owners are more likely to be self-employed, and 69 percent are likely to use their vehicles primarily for their personal business.

A large portion of luxury owners are younger today as well; 34 percent are between the ages of 25 and 34, according to the study.

How CPO sales fared in October


Certified pre-owned vehicle sales were down 3.3 percent in October, but the year-to-date pace is still on par with the record figures from a year ago.

According to Autodata Corp., there were 200,240 CPO sales for the month, compared to 207,105 certified sales in October 2016.

However, the 2.22 million certified sales through 10 months of the year is up 0.6 percent from the tally from the same period of 2016.

Additionally, Autodata said, the daily sales rate for October was at 8,010, up 0.6 percent from last October’s pace.Similarly, the year-to-date DSR of 8,710 is also up 0.6 percent. 

The Big 3 sold 68,203 certified vehicles in October and were up 3.6 percent, with yearly figures reaching 764,326 units (up 0.6 percent).

Asian-brand CPO sales of 98,239 units were down 6.8 percent year-over-year in October; the year-to-date decline was slight at 0.3 percent, with CPO sales reaching 1.08 million.

European brands posted 33,798 CPO sales in October (down 5.8 percent). Their numbers have climbed 3.1 percent year-to-date with 375,903 certified sales.


Acura presents redesigned CPO site with new alert, sharing features

TORRANCE, Calif. - 

Acura has introduced a revamped certified pre-owned vehicle website, .

The new completely redesigned site built to simplify the online CPO vehicle shopping process allows shoppers to compare vehicles and easily share their selections online, Acura announced Wednesday.

"With the booming growth in Acura Certified Pre-Owned sales and tremendous increase in online and mobile vehicle shopping, we are relaunching the Acura CPO site to offer users a more seamless and interactive experience," American Honda manager of auto remarketing, certified pre-owned Dan Rodriguez said in a news release.

"Based on input we received from our customers and dealers, we've reengineered our Acura site to make comparisons simple, and help shoppers make the best choice for a used vehicle."

In addition to a new vehicle alert feature for the most up-to-date vehicle availability, the new site now includes both a vehicle recommendations tool and an interactive payment calculator.

Two other key features on the new site include inventory alerts, where shoppers can create an alert to be notified when a particular vehicle is available and vehicle shareability, which allows visitors to share information about vehicles they are interested in with friends and family.

Kia of Irvine: 2017 CPO Dealer of the Year

CARY, N.C.  - 

AuSM has named its 2017 CPO Dealer of the Year, an award presented by ADESA.

Earning this year’s honors is Kia of Irvine.

For three consecutive years, the California dealership has been the automaker’s top seller of certified pre-owned vehicles nationwide.

And Kia of Irvine might make it four in a row in 2017, the automaker said.

Eric Hardin is the president and general manager of the dealership.

“Eric Hardin and his team have been a leader in the L.A. market promoting the many benefits that the Kia CPO program offers.  They have done an outstanding job covering the entire LA Basin,” said Mike Raumschuh, who is manager of CPO and company vehicles at Kia Motors America.  

“Eric has made sure his sales team remains focused on delivering a great CPO value story to all consumers.  He has done a good job making sure each and every customer has a good understanding of the benefits that come with each CPO vehicle,” Raumschuh said. “They have continued to see their customer loyalty improve as their volume of CPO has.”

Last year, the store moved 1,130 certified units, up from 992 in 2015 and 579 in 2014. In all three of those years, Kia of Irvine was the national and regional CPO sales leader for the company. 

“They’ve got a great product and (within) their CPO program, the warranty is second to none,” Hardin said in a September phone interview, referring to Kia. “And in our area, our customers are seeing the value in it.”

Through August, Hardin said his store’s certified sales are down slightly: “We’re just feeling the market kind of slow down just a little bit,” he said, noting the dip is at most 10 percent.

However, Kia of Irvine could still top the automaker’s CPO sales chart this year for the fourth time in a row, as Raumschuh noted that “it looks like they have a chance to finish number one again in 2017.”

When asked how his store educates the consumer as to the benefits of CPO, Hardin said: “It’s easy, just because it comes with 10-year, 100,000-mile service warranty. It’s hard to argue with, and the price is right.

“Kias are great quality cars, but they’re also … a great value, anyways, brand new. So when you turn it into a CPO, especially for people with their kids, it’s a great way to get them into a nice midsize car that’s pre-owned versus a compact car that’s new,” Hardin said.  

One major factor impacting the CPO market, as a whole, has been the influx of off-lease vehicles, following many years of high new-car lease penetration.

As for Kia of Irvine, “It’s been helping,” Hardin said. “There’s a lot of competition in our market now with all the other dealers getting on board (with) the program, but we get a lot choosier cars now at the auctions and coming off our customer turning their leases in at the end.

“We try to lease them new vehicles when they come in and then try to retail the CPO as quickly as possible,” he said. “It’s been helping a lot, though.”

The CPO Dealer of the Year award will be presented at the Used Car Awards Luncheon, which is sponsored by TradeRev, on Nov. 14 during .

One of the conferences at Used Car Week is one specifically geared toward the retail used-car market: Pre-Owned Con, presented by Equifax. 

It was previously known as the CPO Forum, but has since expanded to include the entire pre-owned car market.

This is the award’s eighth year. Previous winners of CPO Dealer of the Year award include:

2016: Fletcher Jones Motorcars
2015: Bill Luke Chrysler Jeep Dodge & Ram
2014: Hyundai of New Port Richey
2013: Galpin Ford
2012: Longo Toyota
2011: Karl Chevrolet
2010: Paragon Honda/Paragon Acura 

Autotrader names fall's top CPO deals


Just weeks before the holiday season approaches, Autotrader has come out with its top picks for certified pre-owned deals in October. 

That list includes attractive incentives from BMW, such as comprehensive coverage with no mileage limit at the end of the original four-year/50,000-mile warranty that's included on all new BMW models.

"One advantage for shoppers today is that certified pre-owned cars and trucks are lightly used, and they have a long factory-backed warranty for greater peace of mind over a typical used car," Autotrader executive editor Brian Moody said in a news release.

"We also saw more manufacturers provide a couple of options on CPO deals to give customers even more flexibility when it comes to saving on pre-owned vehicles."

Audi's CPO program offers comprehensive protection for up to six years or 100,000 miles from the original sale date. And through the end of the month can get 0.9-percent interest for up to 24 months on all CPO Audi 2014-2016 models.

For October, BMW's CPO program is now touting one year of comprehensive coverage with no mileage limit at the conclusion of the original four-year or 50,000-mile warranty.

Shoppers can also opt to purchase additional years of coverage. Additionally, a new special offer also gives qualified shoppers 0.9-percent interest for up to 24 months on all certified pre-owned 2014 and 2015 BMW models.

Throughout the month, Chevrolet's CPO program offers both powertrain coverage for up to six years or 100,000 miles from the original sale date and bumper-to-bumper coverage for one year or 12,000 miles from the original sale date

This month, GMC is also offering two warranties. Its program currently boasts six years or 100,000 miles of powertrain protection from the original sale date, and bumper-to-bumper coverage for up to one year or 12,000 miles from the original sale date.

Honda's CPO program features a warranty that covers Honda models for up to seven years or 100,000 miles from the original sale date and a bumper-to-bumper warranty for one year or 12,000 miles of coverage from the date of purchase.

Throughout October, Mercedes-Benz is offering one year of coverage, which drivers can extend to up to three years of unlimited-mile protection for a fee. And qualified shoppers interested in a CPO C-Class can get a 3.49-percent interest loan for up to 36 months on all CPO 2014-2016 C-Class models.

Nissan touts two incentives this month. The program is currently offering 1.95-percent interest on all CPO models for up to 36 months, or 3.99-percent for up to 72 months. This month, some shoppers can also get cash back for their next CPO purchase. Nissan’s CPO program is offering up to $450 cash back on certain models.

NIADA picks Wheel’s Automotive as exclusive supplier of CPO point-of-sale tools


A service provider sporting relationships with nearly 20 automakers now is in place to help independent dealerships retail certified metal.

Wheel’s Automotive Dealer Supplies has been selected by the National Independent Automobile Dealers Association as the exclusive supplier of point-of-sale merchandising, collateral and printing services for the NIADA Certified Pre-Owned program.

Wheel’s Automotive, which also services 19 CPO programs for OEMs and other providers and has some 9,000 dealership clients, can combine all the elements of a successful national CPO program into one phone call or click, according to the company.

The NIADA CPO program now includes Wheel’s print-on-demand and direct-from-manufacturer convenience to furnish NIADA member dealers with the exact customized CPO marketing materials desired.

Print-on-demand means highly customized printed items are delivered practically overnight in most cases to support dealers’ CPO sales and marketing efforts.

“Wheel's Automotive represents best-in-class promotional tools and marketing resources for our CPO program dealerships,” NIADA senior vice president of member services Scott Lilja said. “That allows our member dealers to more effectively compete in the CPO marketplace with new car franchise stores and enhances their ability to differentiate their digital and physical lot inventory, driving increased inventory turn, gross margin and customer loyalty.”

Renee Perri, vice president of Wheel’s Corporate Division and a member of AuSM’s annual Remarketing & Used-Car Industry’s 40 Under 40, welcomed the opportunity to work with independent dealers.

“Independent dealers are a vital part of the automotive retail industry,” Perri said. “Proper signage and marketing materials can help them merchandise and market CPO inventory with more authority and appeal as they service the transportation needs of a wide variety of consumers.”

For more information, Perri at (800) 465-8831, ext. 105, or visit www.wheelsauto.com.

Best-ever 3rd quarter for CPO vehicle sales

CARY, N.C.  - 

With the best third quarter ever and a sales increase of more than 6 percent in September, the certified pre-owned market passed the 2 million unit sales mark for the year.

The market remains ahead of the 2016 pace by one percent, meaning another record year is likely in the works. 

Autodata Corp., which released updated CPO sales figures through nine months on Tuesday,  said there were an estimated 221,902 certified vehicle sales in September, which beat year-ago figures by 6.6 percent.

This capped a record third quarter, where dealers moved 679,367 units.

In addition to besting Q3 2016 figures by 0.5 percent, it was the strongest third quarter on record and the second-best quarter ever for CPO sales,  according to Autodata. 

The best?

The second quarter of 2017, which was 2.1-percent stronger than the most recent period.

With consecutive strong quarters on the books, the CPO market has now tallied 2.02 million sales for the year, which beats the first nine months of 2016 by 1.0 percent.

Looking at September results in more detail, the Big 3 moved 75,477 units for the month (up 14.6 percent) and are relatively steady (up 0.3 percent) with year-ago figures, having sold 696,123 units year-to-date.

Asian brands climbed 2.7 percent in September with 109,125 CPO sales and are steady year-to-date (up 0.4 percent) with 982,621 sales.

European brands moved 37,300 units for the month, which was a 3.4-percent gain. That included a best-ever month by Land Rover, which sold 1,829 CPO vehicles (up 11.7 percent).

Through nine months, European CPO sales are up 4.1 percent at 342,099 units.



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