As the number of off-lease vehicles entering the remarketing cycle continues to grow — another 800,000 are expected to hit the market next year — the average transaction prices for used vehicles are on the way up. Many of these off-lease vehicles are near-new, and in light of the influx of these models, the Edmunds.com […] [Read More]

There were 9.45 million used-car sales in the third quarter, beating year-ago figures by 2.5 percent, according to Edmunds.com. And one vehicle age group, in particular, is becoming an even bigger part of that market.  In its Q3 Used Vehicle Market Report, Edmunds said that cars 3 years old and newer accounted for roughly two-fifths (39.1 […] [Read More]

College football bowl games. Your office holiday party. TBS showing “A Christmas Story” on repeat. Predictably, these things happen every December. Lately, so does this: a used-car market that skews heavily toward certified pre-owned. December has become the month where CPO’s share of franchised dealer used-car sales is at its annual peak. In fact, says […] [Read More]

Larry H. Miller Dealerships announced several high-profile changes to its executive-level structure this week, including the hiring of a new vice president and two internal promotions in the area of search engine marketing and optimization. Starting with the hire, on Monday LHM announced Veronika Egginton as its new vice president of digital development, where she […] [Read More]

The November certified pre-owned sales total fell more than 4 percent from year-ago figures, according to Autodata Corp., but year-to-date sales are moving nearly 9 percent higher with 2.33 million CPO sales through 11 months. There were 184,080 CPO sales in November, which was off 4.7 percent year-over-year and down 13.8 percent month-over-month, Autodata said […] [Read More]

Virginia Gov. Terry McAuliffe announced Tuesday that Carfax plans to invest a total of $15.8 million to expand its headquarters and upgrade its nearby data center operation. Expecting to create 120 new jobs, Carfax’s current plans include a $5 million investment to expand its Fairfax County headquarters in Centreville, Va., as well as a further […] [Read More]

Certified pre-owned sales reports for November are just now beginning to surface, but here’s an early look at how some brands fared last month: At Ford, its CPO programs combined for 22,371 sales in November, compared to 22,552 in November 2014. Through 11 months, they have sold 270,194 CPO units, against 249,095 certified sales in […] [Read More]

Consumers hit the Web for Cyber Monday to start the week off with some shopping, and one North Carolina dealership took the vehicle deals it offered for the event beyond its website and onto Facebook. Bryan Honda, one of the state’s oldest dealerships, announced last week it would be selling vehicles in real-time directly within […] [Read More]

A year ago, if you were to consider used-car shoppers familiar with certified pre-owned, just under three-fourths of them would have expressed a positive opinion about CPO. This year? That jumps to 82 percent, according to the 2015 Autotrader CPO Study. Or, as Isabelle Helms said during her presentation at last week’s CPO Forum, “perceptions […] [Read More]

Reports surfaced late last week of Tesla’s voluntary recall of all 90,000 Model S sedans produced, but the recall is likely not going to impact the vehicle’s residuals or used prices as the automaker works on growing its certified pre-owned program. In fact, when asked if this recent move will impact used pricing or residuals for these […] [Read More]