Records Abundant in CPO Market
Kia and Subaru each had their best certified pre-owned months of all time in October, and they weren’t the only ones celebrating records last month.
The CPO market posted its strongest October ever, and at least two brands did the same, as a litany of certified programs continue to achieve hearty numbers in what will almost certainly be a record year for the industry.
Starting with the two brands achieving best-ever sales, Kia pulled in 2,026 certified sales for the month, which marked an 82.7-percent hike from a year ago. Through 10 months, it has moved 16,046 CPO units for a 112.5-percent gain.
Meanwhile, Subaru’s all-time record month included 2,400 CPO sales (up 24.4 percent year-over-year), with year-to-date sales totaling 20,447 (up 3.5 percent).
Next up, Volkswagen increased its October CPO sales from 5,534 a year ago to 6,864 this time around. This marked its best October ever.
Not only that, VW’s Scott Weitzman said the “performance over the first ten months of 2012 is the strongest start to a year and the strongest 10-month consecutive performance in the history of VW CPO.”
Specifically, VW has moved 71,948 CPO vehicles this yaer, up from 61,488 through the same period of 2011.
“The WorldAuto launch has been a success,” Weitzman added. “Dealers are merchandising and selling more and more CPO units.”
Hyundai also achieved its best October on record, pulling in 6,069 CPO sales. This is up from 4,836 certified sales in October 2011. Its year-to-date figures have jumped from 38,461 sales to 58,024 sales.
Continuing along, Toyota moved 26,496 certified vehicles in October, up from 25,865 CPO sales a year ago. Through October, it has sold 274,600 CPO vehicles, compared to 277,812 in the same period of 2011.
“Despite losing momentum at the end of the month due to Hurricane Sandy’s devastation, sales were up 2.4 percent year-over-year,” said Mia Phillips, the retail sales & operations manager for TCUV/TRAC.
“We were also pleased to pick up 0.1 percentage point in share of the CPO industry (year-to-date through October),” she added.
Over at General Motors, CPO sales for Chevrolet, Buick and GMC dealers came in at 21,766 units for October (down 7.7 percent year-over-year), with year-to-date sales hitting 231,838 units.
Meanwhile Cadillac reported 1,278 CPO sales last month (down 25.6 percent), and year-to-date sales are at 13,732.
Ford sold 14,418 certified vehicles for the month (up 31.5 percent) and has moved 142,627 CPO units this year (up 32.6 percent).
By brand, there were 12,922 Ford/Mercury CPO sales in October (up 35.4 percent) and 1,496 Lincoln certified sales (up 5.3 percent).
At Chrysler, certified sales totaled 8,730 vehicles for October (down 4.7 percent), with year-to-date sales at 94,146 units (down 1.1 percent).
Among the divisions, Dodge moved 4,191 CPO vehicles (up 6.1 percent) in October, while Chrysler CPO sales reached 1,777 units (down 9.8 percent), and Jeep CPO sales were at 2,762 units (down 14.7 percent).
While not included in the aforementioned total for Chrysler Group, there were 23 Fiat CPO sales last month.
Next up, the Honda brand moved 17,559 certified vehicles in October, compared to 17,267 CPO sales in October 2011. Through 10 months, it has moved 202,121 certified units, up from 190,083 CPO sales in the year-ago period.
The Acura division reported 3,435 certified sales last month, down from 3,623 in the year-ago time frame. This pushed year-to-date sales to 36,628 units sold, versus the 40,703 certified sales through October 2011.
As for Audi, it sold 2,663 certified units in October, compared to 2,776 last October. Year-to-date, its CPO sales have come in at 30,303 units, compared to 31,165 in the 2011 time frame.
Volvo sold 918 certified cars in October, down 6.4 percent year-over-year. Year-to-date sales are down 7.3 percent at 9,904 units sold.
Continuing along, the Nissan brand sold 8,332 certified units in October (up 3.2 percent) and has moved 88,890 CPO units through 10 months (up 17.6 percent). Meanwhile, the Infiniti brand hit 883 certified sales last month (down 25.2 percent) with year-to-date sales coming in at 9,980 (down 8.8 percent).
Lexus dealers sold 5,302 certified units during the month, off 4.6 percent year-over-year. Through October, they have reached 56,775 CPO sales (down 2.2 percent).
Mazda’s CPO sales for the month came in at 2,570, which was a 53.8-percent hike. Year-to-date sales have climbed 41 percent at 21,842 units sold.
BMW’s certified sales reached 6,059 units for the month (down 3.4 percent). It has sold 62,697 units so far this year (down 11.4 percent). Mini sold 326 certified units in October (up 97.6 percent).
Meanwhile, Mercedes-Benz reached certified sales of 6,712 sales for the month (up 20.5 percent) and 66,251 for the year-to-date period (up 5.3 percent). Smart sold 20 CPO units in October.
Porsche moved 708 certified units, up 8 percent year-over-year. Through October, its sales have hit 8,078 units for an 11-percent uptick.
Jaguar sold 270 certified units in October (down 7.8 percent) and Land Rover sold 568 (down 2.7 percent).
Mitsubishi sold 35 certified cars, Maserati moved 30 units, and Bentley was estimated to have sold 30.