CPO share of franchised used-car sales up slightly

SANTA MONICA, Calif.  - 

This year marked the best second quarter ever for the used-car market and the first time there has been more than 10 million used-car sales in Q2, according to Edmunds.

Franchised dealers sold 2.95 million used cars during the quarter, and slightly more of those were certified pre-owned than in the same period of 2017, based on data in the company’s latest Used Vehicle Market Report.

Overall, there were 10.05 million used-vehicle retail sales in the second quarter, a figure that includes sales from dealers and between private parties. That’s a 1.7-percent year-over-year uptick.

Franchised dealers, whose overall used retail sales were up 1.4 percent, sold 693,802 certified vehicles in the quarter, according to Edmunds.

Not only is the CPO sum a 2.3-percent year-over-year gain, but it also represents a bit larger piece of franchised dealers’ used-car operations.

In the second quarter, 23.55 percent of franchised dealer used-car sales were CPO.

In Q2 of 2017, it was 23.34 percent.

CPO results year-to-date 

As for the most recently completed reporting period, certified sales fell 1.4 percent year-over-year in August, but are still on track for another record-breaking year.

That's according to data from Autodata Corp., which said there were 230,013 CPO sales for the month, compared to 233,236 in August 2016.

Certified sales were up 1.3 percent from July, when CPO sales fell 3.2 percent year-over-year

Through eight months, there has been a shade less than 1.8 million CPO sales, which beats the year-ago pace by 0.3 percent, Autodata said.

In August, three brands — Nissan, Jeep and Audi — had their best months ever for certified, according to Autodata. 

 

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