CPO

October a strong CPO sales month for Canada

CARY, N.C. - 

Based on results reported by automakers, October was a solid month for the Canadian certified pre-owned vehicle market.

For instance, Hyundai sold 938 certified vehicles in October, a major increase from 627 a year ago. This was its best October since 2013.

Year-to-date, its numbers are up 56 percent with 7,732 CPO sales.

Volkswagen moved 1,605 certified units for the month (up 29.4 percent), and it has sold 14,568 CPO vehicles through 10 months of the year (up 11 percent).

Mercedes-Benz moved 1,130 certified vehicles, a 20.2-percent year-over-year increase and its strongest CPO October.

Through 10 months, Mercedes has moved 11,585 CPO units.

Toyota sold 2,590 certified vehicles in October, compared to 2,344 CPO sales a year ago.

Year-to-date Toyota has moved 26,325 CPO units, versus 21,542 in the same period of 2016.

Porsche moved 196 CPO units for the month, up from 162 a year ago.

Year-to-date sales are at 1,783 units, up from 1,535 through 10 months of 2016. 

Kia Canada announces CPOs must earn CARPROOF VHR badge

TORONTO - 

Kia Canada and CARPROOF recently announced that in an effort to make used-car transactions more transparent, all vehicles in Kia’s CPO program must now qualify for the CARPROOF Top Condition badge found on the company’s VHRs.

Kia Canada CPO vehicles have to meet CARPROOF’s strict safety and condition standards to earn the VHR badge.

CARPROOF introduced both Top Condition and Low Kilometers badges in January.

“Kia Canada is extremely excited to further enhance our partnership with CARPROOF to increase transparency into our Certified Pre-Owned vehicle program,” Kia Canada national remarketing manager Stephane Lubin said in a news release. “Incorporating Kia CPO badging into CARPROOF reports will naturally expand our ability to provide reliability, dependability and peace of mind for our consumers.”

The Top Condition badge will appear on Kia CPO vehicle VHRs until they are retailed, according to Kia Canada.

“This initiative is an effective way for automotive dealers to use a CARPROOF VHR as a selling tool,” added Mike Foster, CARPROOF OEM and lender national manager “In addition, the permanent CPO record can help with resale value when the time comes to trade the vehicle in again.”

Hyundai’s new CPO program designed for ‘customers and dealers’

MARKHAM, Ontario - 

Hyundai Auto Canada’s new certified pre-owned program, known as H Promise, was launched last year and is designed to be a product that adapts to its market environment.

Joel Gregory, national sales manager for CPO and remarketing at Hyundai Auto Canada Corp., told Auto Remarketing Canada that Hyundai’s previous CPO program was “appropriate for its time,” but had not kept up with the demands of the marketplace.

“Working with both our dealer network and business partners, we took a bold step to offer an entire suite of plans including a choice of deductibles for the first time,” Gregory said.

Gregory shares he has actively been involved in the pre-owned industry for his entire career — coming up on 25 years now.

“During that time I have experienced first-hand the tremendous growth in CPO and the changing needs of both consumer and dealer alike,” he said. “In my opinion, CPO should be an integral component of every dealership’s marketing strategy.”

Making sense for ‘both the consumer and the dealer’

So, what makes H Promise stand out?

According to Gregory, for a corporate lead program to be successful, “it must make sense for both the consumer and the dealer.”

That turned out to be the backbone of H Promise as the CPO program was restructured. The automaker involved its product team, service team and a select group of dealers to assess the CPO program during its restructuring.

“We didn’t simply look at the CPO programs offered by our competitors,” said Gregory. “We identified best practices within the industry as a whole, then adapted those practices.

“We recognized the impact that technology was having on repair costs and how this factored into a customer’s purchase decision,” he added.

The CPO program evolved from three basic plan choices to a program with 26 options and the ability for dealers to “tailor” a plan to their customer’s needs.

H Promise performance

With the introduction of H Promise, Hyundai Auto Canada now has more dealers selling CPO than were active in the previous program.

And according to Gregory, those dealers that had previously “embraced” the importance of CPO are now selling more than ever before, and spikes in sales of 50 to 100 percent are not uncommon.

In fact, total August CPO sales for Hyundai Auto Canada were up 42 percent from July and grew 60 percent year-over-year. What factors have contributed to this impressive growth this past summer?

“Simply stated, dealers and consumers alike are seeing real value in the program,” said Gregory. “Combine a great product like Hyundai vehicles with a great certification program, and you have a recipe for success.”

As for what vehicles are performing particularly well in the H Promise program, Gregory said, “We are very pleased with our entire pre-owned inventory.”

And the Hyundai Elantra has been performing particularly well in the ultracompetitive sub-compact segment.

When it comes to sourcing, where do Hyundai Auto Canada dealers turn to for CPO-worthy inventory? The short answer: trade-ins, factory programs and the auction.

And with the recent introduction of Hyundai Capital, the automaker now has its own captive finance division in Canada.

“Joint ventures have also lead to strategic leasing programs, which have become an excellent source of pre-owned inventory as leases mature,” Gregory said.

Further, Hyundai’s fleet industry leaders work closely with key commercial accounts and dealers to remarket these types of vehicles.

“It goes without saying, a strong, industry-leading CPO program provides the needed incentive for our dealer network to not only help remarket fleet vehicles, but also to expose them to a growing number of consumers who have never owned a Hyundai before,” Gregory said.

Hyundai Auto Canada dealers market to their customers using a full suite of CPO-branded point-of-sale material. Gregory added, “My team and I are hard at work to continually improve our digital footprint.”

Hyundai Auto Canada sees the future of pre-owned and CPO moving towards a digital environment, and “are in the process of developing a much more robust section on our corporate site,” Gregory said. When asked to explain what makes the new H Promise special, Gregory had this to say: “Simply put, it’s both a customer- and dealer-friendly program.”

Canadian CPO market seeing the 'best' of times

CARY, N.C.  - 

Through three quarters of 2017, one turn of phrase common among automakers reporting Canadian certified pre-owned vehicle sales is “best.”

Whether that’s best year or best September, Canada’s CPO car market is rolling.

Audi, for instance, is enjoying its best certified pre-owned sales year in history, the company said.

It has sold 6,497 CPO units through nine months, which is a 27.7-percent increase from the first three quarters of 2016.

Audi also had its best September ever for CPO sales, moving 792 certified vehicles for a 43-percent hike.

Up next, Volkswagen had its best September ever for CPO, having sold 1,681 units for a 33.7-percent gain. Sales through nine months are up 8.8 percent at 12,963 units.

Mercedes-Benz’s certified pre-owned sales through nine months of 2017 have climbed 4.9 percent, with dealers having moved 10,455 CPO vehicles. In September, CPO sales were down 3.6 percent year-over-year at 1,206.

Porsche has sold 1,587 certified vehicles through nine months, compared to 1,373 a year ago. Its September sales of 202 CPO vehicles were up from 178 in the same month of 2016.

Hyundai’s year-to-date certified sales have climbed 58 percent, reaching 6,812 units through nine months. The automaker had its strongest September in five years, having sold 810 CPO units (up 50.5 percent).

Toyota has sold 23,735 certified vehicles through nine months, up from 19,198 a year ago.  It sold 2,731 CPO vehicles in September, up from 2,419 units a year ago.

At BMW, the pre-owned division (which includes certified and non-certified used vehicles) sold 1,969 units for the month. This was the strongest September ever for BMW pre-owned and a 17-percent improvement from a year ago.

BMW’s pre-owned sales are up 16 percent at 16,950 sales through nine months.

Volvo posted 1,631 certified sales through three quarters and 160 sales in September. 

With this kind of momentum industry-wide, it’s possible that for the Canadian CPO market, the “best” days are ahead.

Records roll in for Canadian CPO car sales

CARY, N.C.  - 

August was a hot month for automotive brands and their certified pre-owned vehicle sales in Canada.

Audi, for example, had its best-ever CPO month, moving 974 units in Canada. That beat year-ago figures by 59 percent.

Through eight months, Audi is up 26 percent with 5,705 sales.

Mercedes-Benz had its strongest August on record for CPO, moving 1,222 units. That’s up 10.4 percent year-over-year. Through eight months, certified sales are up 6.1 percent at 9,249 units.

Volkswagen had a record August, with 1,801 certified sales, a 35-percent spike. Year-to-date, VW has moved 11,282 CPO cars, a 5.8-percent lift.

Subaru was up 12.7 percent in August with 267 certified sales; year-to-date, it’s up 20.3 percent with 1,799 CPO sales.

Toyota sold 2,814 certified vehicles in August, up from 2,461 August 2016. Year-to-date sales have climbed from 16,782 units to 21,005.

Hyundai’s certified sales climbed from 606 units in August 2016 to 862 last month. The company said it has seen 12 straight months of year-over-year sales.

Through eight months of this year, Hyundai has sold 6,028 certified units, up from 3,755 in the same period of 2016.

Porsche sold 208 CPO cars for the month, up from 163 in August 2016. Year-to-date sales are at 1,386, up from 1,195 a year ago.

 

Strong CPO sales roll on in Canada

CARY, N.C. - 

When Joel Gregory, the national sales manager for CPO and remarketing at Hyundai Auto Canada, shared his brand's certified pre-owned sales results for July, he said via email: "The momentum continues."

Indeed, it does. 

Not just for Hyundai, where CPO sales climbed nearly 36 percent last month, but for the industry as a whole, as well. 

Hyundai Auto Canada moved 794 certified vehicles for the month, beating last July’s 585 CPO sales. Year-to-date sales of 5,175 are handily beating last year’s pace, when 3,149 CPO units had been sold through July.

It joins several automakers reporting strong certified pre-owned sales this summer. 

At Mercedes-Benz Canada, the pre-owned division had its strongest July on record in the CPO market. It sold 1,058 CPO units, versus 931 in July 2016. Mercedes has moved 8,027 certified vehicles through seven months of the year, compared to 7,608 CPO units sold through July 2016.

Also notching a record July for certified sales was Volkswagen Canada, which sold 1,683 CPO units, up from 1,287 certified sales in July 2016. Through seven months, VW Canada has sold 9,481 certified vehicles, compared against 9,325 in the year-ago period.

BMW Canada — which reports certified pre-owned and non-certified pre-owned together — said last month was its best July ever on the pre-owned side.

It moved 1,873 pre-owned units, up 21 percent year-over-year. Through seven months, pre-owned sales are up 15 percent at 13,017 units.

Toyota Canada posted 2,664 certified sales for the month, against 2,323 CPO sales in July 2016. Year-to-date sales for the Japanese automaker have reached 18,191 units, up from 14,321 through seven months of 2016.

Volvo Canada sold 183 certified pre-owned vehicles in July, even with a year ago. But through seven months, CPO sales were up 9.7 percent at 1,258 units.

Porsche Cars Canada had 205 CPO sales in July, up from 163 in July 2016. Through seven months, it has sold 1,178 certified vehicles, compared to 1,032 in the same period of 2016. 

Canadian CPO car sales continue climb

CARY, N.C. - 

The certified pre-owned car market in Canada was a strong one in the first half of the year. The majority of automakers sharing CPO sales results with Auto Remarketing Canada have reported improvements from a year ago.

Starting with Toyota Canada, it sold 3,006 CPO units in June, up from 2,402 a year ago.

Toyota moved 15,527 certified vehicles in the first half of 2017, handily beating the year-ago sum of 11,998.

Volkswagen sold 1,418 certified vehicles in Canada during June, up 17.1 percent year-over-year. This ended a three-month streak of declining sales. Through six months, VW’s CPO sales are at 7,798 units year-to-date, down 3 percent year-over-year.

BMW Canada, which reports certified and non-certified pre-owned together, said it moved 2,008 pre-owned vehicles for the month, which was up 21 percent from June 2016.

In the first half of the year, BMW moved 11,144 pre-owned vehicles, which beats year-ago figures by 14 percent.

The company’s top pre-owned seller for the month once again was the 3 Series, which posted 740 sales for a 45-percent gain.

“Strong CPO messaging along with a focused retailer sales force across the country continue to fuel our pre-owned growth in Canada,”  Robert Staffieri, BMW Canada’s national pre-owned manager, said in an emailed statement. 

Hyundai Auto Canada reported 826 certified sales for June, beating last year’s tally by 45 percent. Through six months, sales have reached 4,390 units, a 67-percent hike.

Volvo Canada sold 203 CPO vehicles in June for a 5.2-percent hike. First-half sales were up 14.1 percent at 1,075.  

Mercedes-Benz Canada increased its certified sales 4.1 percent in June, selling 1,316 units. Through six months, sales are up 4.4 percent at 6,969.

 

Nissan offers pre-owned LEAFs through Quebec EV incentive program

MONTREAL and MISSISSAUGA, Ontario - 

Nissan recently announced that as part of Quebec’s Drive Electric program, it will now offer select pre-owned Nissan LEAF vehicles for purchase or lease in the province, complete with a $4,000 provincial incentive.

Canadians can purchase a previously owned fully-electric vehicle and also take advantage of a provincial incentive for the first time, according to Nissan. The automaker said this new program signals “a giant leap forward in electric vehicle accessibility.”

“The Nissan LEAF Qualified Pre-Owned Program is another demonstration of Nissan's pledge to create intelligent mobility solutions, by broadening the accessibility and practicality of electric vehicles,” Nissan Canada president Joni Paiva said in a new release. “The Nissan LEAF Qualified Pre-Owned Program, matched with existing Nissan efforts to develop provincial infrastructure, will be instrumental in growing interest and acceptance toward the broad benefits of zero emission mobility. We look forward to continued growth of the EV market in Quebec.”

Nissan said to qualify for the program, the pre-owned LEAFs must be both registered outside of Quebec, and either from the 2013 or 2014 model year.

Vehicles coming from the U.S. will be modified to meet Canadian regulations. Changes include an added OEM harness for the daytime running lights, and a conversion of units to metric.

Certified Nissan LEAF dealers will also be swapping the 2.5L windshield washer fluid tank on the U.S.-sourced LEAFs for a 4.5L tank, according to Nissan.

Additionally, Nissan Canada Finance will offer qualifying customers a 3.99 percent lease rate on 36 months for the LEAF SV and LEAF SL, as well as a special loan program starting as low as 1.99 percent for both the SV and SL trims on 48- and 60-month terms.

“The Nissan LEAF Qualified Pre-Owned Program contributes to the Quebec government's objective of increasing the number of electric and plug-in hybrid vehicles in the province to 100,000 units by 2020,” Nissan added.

Quebec recently established a pilot project promoting the purchase of used-cars; a total of 1,000 rebates will be granted under the program until March 31, 2018, according to the government website. Click here for more information.

Note: Corrected to clarify headline. 

More automakers report April CPO sales

CARY, N.C. - 

BMW Canada’s pre-owned division, which includes both certified and non-certified used cars, had its strongest April ever, the company said. 

It moved 2,007 pre-owned vehicles for the month, pushing the year-to-date total to 7,018.

The year-to-date pace is up 11 percent from the first four months of 2016.

April followed what was the best-ever month for BMW Canada pre-owned sales, when the company moved 2,070 units for a 14-percent gain.

“Increased demand for pre-owned 3 series contributed to our strong growth in April,” said Robert Staffieri, national pre-owned manager at BMW Canada. “Our targeted Certified Pre-Owned 3 series marketing campaign is certainly resonating with consumers looking for a premium and worry-free driving experience.”

Over at Hyundai Auto Canada, which retooled its certified pre-owned program last year, there were 805 CPO sales in April. That’s up from 423 in the same month of 2016.

In four months, it has sold 2,619 CPO units, up from 1,497 a year ago.

As reported previously, Porsche had its best April ever for CPO sales in Canada, moving 179 vehicles. That’s up from 155 last April, which was the prior record. Through four months, Porsche has sold 599 certified vehicles, up from 522 last year.

Just before last month began, Porsche Cars Canada announced that as of March 1, all Porsche Approved Certified Pre-Owned vehicles and Extended Warranty programs sold from that day forward included unlimited mileage throughout the two-year term.

“We are confident that offering unlimited mileage coverage to our Porsche Approved Certified Pre-Owned vehicles and Extended Warranty will further increase the consideration of our quality products,” Porsche Cars Canada president and chief executive officer Alexander Pollich said in a news release.

“Drivers will continue to enjoy every kilometre travelled behind the wheel with this industry leading protection plan, regardless of distance travelled,” Pollich said.

Getting back to April results, there were 2,929 certified sales for the month at Toyota, pushing the year-to-date tally to 9,547. A year ago, Toyota sold 2,525 certified vehicles in April and had year-to-date sales of 7,221 CPO units.

Next up, Volkswagen’s CPO sales were down 1 percent year-over-year in April with 1,321 certified sales. But year-to-date sales through four months are up 1.3 percent at 4,957 units.

Mercedes-Benz reported 1,245 certified sales for the month, which was off 3.9 percent from last April. It reported 4,275 CPO sales in the first four months of 2017, which is up 4.2 percent year-over-year.

Volvo sold 161 certified vehicles last month (down 17.1 percent). Through four months, it has moved 650, a 10.5-percent increase.

 

Rundown of Canadian CPO car sales in April

CARY, N.C. - 

The U.S. certified pre-owned market followed its second-strongest month on record with modest year-over-year gains in April, according to Autodata Corp. And reports from automakers in Canada are showing positivity, as well. 

Porsche, for example, had its best April ever for CPO sales in Canada, moving 179 vehicles. That’s up from 155 last April, which was the prior record. Through four months, Porsche has sold 599 certified vehicles, up from 522 last year.

Just before last month began, Porsche Cars Canada announced that as of March 1, all Porsche Approved Certified Pre-Owned vehicles and Extended Warranty programs sold from that day forward included unlimited mileage throughout the two-year term.

“We are confident that offering unlimited mileage coverage to our Porsche Approved Certified Pre-Owned vehicles and Extended Warranty will further increase the consideration of our quality products,” Porsche Cars Canada president and chief executive officer Alexander Pollich said in a news release.

“Drivers will continue to enjoy every kilometre travelled behind the wheel with this industry leading protection plan, regardless of distance travelled,” Pollich said.

Getting back to April results, there were 2,929 certified sales for the month at Toyota, pushing the year-to-date tally to 9,547. A year ago, Toyota sold 2,525 certified vehicles in April and had year-to-date sales of 7,221 CPO units.

Next up, Volkswagen’s CPO sales were down 1 percent year-over-year in April with 1,321 certified sales. But year-to-date sales through four months are up 1.3 percent at 4,957 units.

Mercedes-Benz reported 1,245 certified sales for the month, which was off 3.9 percent from last April. It reported 4,275 CPO sales in the first four months of 2017, which is up 4.2 percent year-over-year.

Volvo sold 161 certified vehicles last month (down 17.1 percent). Through four months, it has moved 650, a 10.5-percent increase.

More results to come as they are reported.