Certified Pre-Owned Archives | Page 6 of 47 | Auto Remarketing

SureSale vehicles now include SiriusXM subscription

A certified vehicle with more music, information and entertainment options coming through the model’s sound system. That’s the result of Monday’s finalization of a relationship involving SureSale and SiriusXM.

According to a news release, SureSale announced that it has teamed up with SiriusXM to offer a complimentary three-month subscription to SiriusXM’s top-tier All Access package included with the purchase of SureSale vehicles at franchised and independent dealerships.

Complete offer details and terms are available through SureSale.

“When a customer buys a SureSale car, they are already getting a truly great, fully-inspected, pre-owned vehicle, that they can be ‘sure of,’“ SureSale president and co-founder Jeffrey Schwartz said. “Through our agreement with SiriusXM, we are adding additional value — and enjoyment — to SureSale buyers.

“Their ‘new-to-them’ vehicle, will now have three months of the deepest variety of ad-free music, plus sports coverage, exclusive talk channels, comedy and comprehensive news coverage — something that has become only more important in the current crisis,” Schwartz continued.

The SiriusXM All Access subscription — which is available in SureSale vehicles that have factory-equipped SiriusXM radio — is SiriusXM’s most extensive offering, featuring Howard Stern, a wide variety of ad-free music, plus live pro and college sports, talk programming, news, comedy and more.

With a SiriusXM All Access subscription, listeners can access all this programming in their vehicle and also outside their car on the SiriusXM app and on connected devices and speakers in their home.

Additionally, the company said customers buying SureSale vehicles with compatible vehicle navigation systems will receive a three-month subscription to SiriusXM Travel Link — which offers weather, fuel prices, movie listings and sports scores — as well as NavTraffic, which delivers detailed information on traffic speed, accidents, construction, road closures, and more.

“We are very excited to be working with SureSale. Their certification platform is an innovative and important service for the pre-owned industry, and this represents a terrific new avenue for us to reach more pre-owned vehicle customers, who may not otherwise have access to a SiriusXM-activated vehicle, and enable them to experience our best audio entertainment package,” said Gail Berger, vice president of auto remarketing for SiriusXM.

“SiriusXM All Access gives customers access to all of our great content, and they can listen to us in the car, and at home. This enhanced experience certainly adds to the benefits of owning a SureSale vehicle,” Berger went on to say.

SureSale’s certification-as-a-service platform offers franchise and independent dealers across the U.S. a turnkey program and technology that can enable them to certify more of their used-vehicle inventory.

The platform, which also can help to facilitate a more socially distanced purchasing process, provides vehicle history data, mobile vehicle inspections and VIN specific data, including recalls.

For more information, visit http://www.suresale.com. For more on what SiriusXM offers and all the ways to listen, go to http://www.SiriusXM.com.

Black Book offers cost-benefit analysis of CPO vehicles

Some franchised dealerships don’t have a robust new-vehicle inventory since the coronavirus pandemic disrupted the volume pipeline from automaker factories around the globe.

Black Book explained how retailing certified pre-owned vehicles could be leveraged by franchised stores to get into better position for new models among other potential benefits.

“For some dealers, there is additional incentive to CPO a certain percentage of their used inventory as it bumps up their status with the manufacturer,” Black Book said in its latest COVID-19 Market Insights report distributed earlier this week.

“For example, BMW takes into consideration a dealer’s CPO sales volume when deciding on the dealership’s new-car allocation,” analysts continued.

Black Book acknowledged there certainly are costs involved when certifying a vehicle, which can range by manufacturer. And depending on the specific unit, that cost can make store managers carefully consider how to proceed.

“Typically for mainstream OEMs, the cost to the dealer is $500 or less per vehicle, but luxury vehicles can reach into the thousands of dollars and vary by model,” Black Book said in the report. “In most cases, the full cost to CPO a vehicle is the responsibility of the dealer, including any reconditioning that is necessary for it to receive certification.

“Retail prices of CPO vehicles are generally about 3.5% higher than a similar non-CPO vehicle (adjusted for mileage). But just like the cost to CPO a vehicle, the difference varies among the segments and, for example, can climb to about 7% for near luxury sedans,” Black Book went on to say.

Black Book also reiterated the other benefits of CPO models, which oftentimes come with an additional warranty. Sometimes the OEM’s captive finance company has special financing rates and terms for certified vehicles, too.

And CPO vehicles also can give consumers some flexibility at the time of delivery. Black Book specifically mentioned what General Motors does.

“There are additional benefits to consumers that purchase through some OEMs, such as GM that offers an exchange program on their Chevrolet and GMC CPO units. If the customer changes their mind within three days or 150 miles, the purchaser can exchange it for any Buick, Chevrolet, or GMC CPO vehicle,” Black Book said.

Shortage of new-car supply, incentives could boost lure of CPO

Supplies and incentives are running a bit short in the new-car market.

And for cost-conscious shoppers, certified pre-owned may prove to be an attractive alternative, according to an analysis from Edmunds.

When June started, new-vehicle inventory levels were only two-thirds of what they were a year ago, Edmunds said, thanks to the impact of factory shutdowns during the pandemic.

And while automakers piled on new-car incentives at the pandemic’s outset, those are now “drying up,” Edmunds said in its analysis.

But CPO may offer a balance for those looking to save money, but also avoid the potential “risks” that can come with purchasing a used car. A 3-year-old certified vehicle has a 33% lower price tag, on average, than its new-car counterpart, Edmunds said.

“This Independence Day weekend might look a bit different than years past when it comes to incentives and deals on new vehicles, but the good news for price-conscious shoppers is that there’s plenty of value and selection in the used market,” said Jessica Caldwell, Edmunds’ executive director of insights, in a news release.

“For those concerned about the risks associated with buying used, a certified pre-owned vehicle might be a good compromise as it comes with a warranty and is generally newer with lower mileage,” Caldwell said. “And, thanks to a deluge of off-lease vehicles hitting the market, there’s a much wider selection of these vehicles for shoppers to choose from.”

Ivan Drury, who is senior manager of insights at Edmunds, added, “Many shoppers are unaware of the benefits of CPO vehicles, but given some of the financial uncertainties faced by so many Americans today, now is a great time for consumers to look into them as an alternative to new.

“These vehicles come pre-inspected, are required to meet automakers’ condition standards, and offer peace of mind with an extended warranty. Also, specific colors and features can change from must-haves to nice-to-haves when you’re looking at savings in the $10,000 range, especially on models that haven’t been redesigned in the last few years,” Drury said.

In the analysis, Edmunds shared a variety of models and the average savings between a new model and a 3-year-old CPO model. A chart detailing those savings can be found below.

An Edmunds spokesperson said via email that the company selected the vehicles below based on a few factors: high volumes (which was weighed most heavily), strongest CPO vs. new savings, and popularity/name recognition.

The chart and data below are courtesy of Edmunds.

Dealer eProcess now involved with Honda & Nissan store websites

Honda and Nissan dealers now can use online tools available from Dealer eProcess.

Dealer eProcess recently announced that it is now part of both the Nissan Certified Website program and the Honda Certified Website and Digital Marketing programs. The company said Honda and Nissan dealers now have the ability to enjoy all the latest tools and features that Dealer eProcess has to offer and stay within their OEM program guidelines.

As part of the program, Dealer eProcess dealers can choose from unique Nissan website designs that are designed to be fully responsive and ADA compliant in addition to featuring SSL security. Spanish websites are also available to reach customers in the language they are most comfortable with.

The company emphasized there are high-converting elements within each section of the websites, from the user-focused SRP (search results page) and advanced VDP (vehicle details page) to voice search and several different chat and bot options. Dealers will be able to target their unique set of customers with SEO packages and encourage online shopping with SARA, a comprehensive digital retailing tool.

Furthermore, Dealer eProcess dealers that are Honda franchises can choose from unique Honda website designs that also are designed to be fully responsive and ADA compliant in addition to featuring SSL security. Like with Nissan sites, Dealer eProcess said there are high-converting elements within each section of the Honda websites, from the user-focused SRP (search results page) and advanced VDP (vehicle details page) to several different chat options.

Dealers will be able to target their unique set of customers with SEO packages and encourage online shopping with SPARC (Syndicated Payment and Rate Customizer), a tool that provides data-driven payments. Honda dealers can also utilize Dealer eProcess’ robust dashboard that includes in-depth reporting, lead information, website management, and customization, all in a user-friendly format.

With Honda Certified Digital marketing, Dealer eProcess said capturing customers ready to take home a new vehicle, research a used vehicle, or schedule a service can be done in numerous ways. Dealer eProcess digital marketing includes dynamic inventory based search marketing, market protection with geographical/local campaigns and dynamic inventory based remarketing.

The company added social media options cover Waze, Facebook, and YouTube, along with Google Posts to increase both branding and visibility. Data transparency with tools such as CARoi are key elements that are designed to ensure dealers can monitor progress with all of their marketing campaigns and overall website strategies.

Dealer eProcess’ robust dashboard includes in-depth reporting, lead information, website management, and customization, all in a user-friendly format. With InSites, analyzing all websites stats can be done in one place with month-by-month or year-over-year breakdowns. Dealers will receive a monthly report with key statistic summaries in a print-ready format. The dashboard also allows dealers to build custom pages, update the menu, and edit inventory. The Dealer eProcess dashboard is designed to help dealers make the most of their website and additional tools.

Nissan Certified Websites options and Honda Certified Website and Digital Marketing choices through Dealer eProcess are available immediately.

For a full list of features and package options, visit the program page on the Dealer eProcess website. Dealers also can schedule a demo or contact the DEP sales team at (877) 551-2555.

Top 10 dealers for CPO sales by brand

To recognize the dealers leading the certified pre-owned car business, the Feb. 15 issue of Auto Remarketing will feature our annual special section spotlighting "The Best CPO Dealers in the USA." 

We reached out to automakers across the CPO spectrum and requested their respective top 10 certified dealer lists based on full-year 2019 sales.

The full brand-by-brand CPO sales rankings can be found below. Listings include dealer name, city/state (where provided) and 2019 CPO sales.  

(Data/information provided by the individual brands/automakers)

The Feb. 15 print edition of the publication will also include CPO best practices, market trends and feature stories with the perspectives of both mass-market and luxury automaker programs. 

ACURA
VANDERGRIFF ACURA (ARLINGTON, TEXAS) 960
PARAGON ACURA (WOODSIDE, N.Y.) 885
ACURA CARLAND (DULUTH, GA.) 689
HENDRICK ACURA (CHARLOTTE, N.C.) 595
ACURA TURNERSVILLE (TURNERSVILLE, N.J.) 544
JAY WOLFE ACURA (KANSAS CITY, MO.) 519
MULLER'S WOODFIELD ACURA (HOFFMAN ESTATES, ILL.) 514
ACURA OF WESTCHESTER (LARCHMONT, N.Y.) 494
ELITE ACURA (MAPLE SHADE, N.J.) 490
CHEVY CHASE ACURA (BETHESDA, MD.) 488

AUDI
AUDI ATLANTA 1,061
AUDI NORTH HOUSTON 915
ROCKVILLE AUDI 904
THE AUDI EXCHANGE 895
FLETCHER JONES AUDI 843
STEVENS CREEK AUDI 769
AUDI BEVERLY HILLS 736
AUDI DENVER 691
AUDI CONCORD 688
BELL AUDI 683

BMW
BMW OF GWINNETT PLACE 1,790
HENDRICK BMW/MINI 1,633
STEVENS CREEK BMW 1,630
CHAPMAN BMW 1,587
CREVIER BMW/MINI 1,557
UNITED BMW 1,546
BMW/MINI OF SAN ANTONIO 1,418
IRVINE BMW/MINI 1,346
BRAMAN MOTORCARS/BRAMAN MINI OF PALM BEACH 1,332
BMW/MINI OF MONROVIA 1,243

FIAT CHRYSLER AUTOMOBILES
BILL LUKE CHRYSLER JEEP DODGE RAM (PHOENIX) 2,526
ROUTE 46 CHRYSLER JEEP DODGE (LITTLE FALLS, N.J.) 1,388
STEW HANSEN CHRYSLER DODGE JEEP RAM (DES MOINES, IOWA) 1,325
YARK CHRYSLER JEEP DODGE RAM FIAT  (TOLEDO, OHIO) 1,245
LUTHER BROOKDALE CHRYSLER JEEP (BROOKLYN PARK, MINN.) 1,242
SECURITY DODGE CHRYSLER JEEP RAM (AMITYVILLE, N.Y.) 1,217
LINDSAY CHRYSLER DODGE JEEP RAM (MANASSAS, VA.) 1,185
WESTBURY JEEP CHRYSLER DODGE, INC. (JERICHO, N.Y.)     1,099
KEN GARFF WEST VALLEY CHRYSLER JEEP DODGE RAM FIAT  (WEST VALLEY CITY, UTAH) 1,081
ED VOYLES CHRYSLER JEEP DODGE (MARIETTA, GA.)  1,051

HONDA
PARAGON HONDA  (WOODSIDE, N.Y.)  2,912
LINDSAY HONDA (COLUMBUS, OHIO) 2,194
NORM REEVES HONDA SUPERSTORE (CERRITOS, CALIF.) 2,089
FIRST TEXAS HONDA (AUSTIN, TEXAS) 1,605
PLANET HONDA (UNION, N.J.) 1,597
DCH PARAMUS HONDA  (PARAMUS, N.J.) 1,515
DAVID MCDAVID HONDA OF FRISCO (FRISCO, TEXAS) 1,479
ROUSH HONDA  (WESTERVILLE, OHIO) 1,476
VANDERGRIFF HONDA (ARLINGTON, TEXAS) 1,474
RICK CASE HONDA (DAVIE, FLA.) 1,318

HYUNDAI
HYUNDAI OF NEW PORT RICHEY 1,415
VANDERGRIFF HYUNDAI 814
RICK CASE HYUNDAI 758
JIM ELLIS HYUNDAI 739
LUTHER BLOOMINGTON HYUNDAI 732
DANBURY HYUNDAI 729
PATRICK HYUNDAI 713
NAPLETON'S HYUNDAI 649
KEFFER HYUNDAI 617
STEW HANSEN HYUNDAI  601

INFINITI
SEWELL INFINITI OF NORTH HOUSTON (HOUSTON) 1,028
SEWELL INFINITI (DALLAS) 827
INFINITI GWINNETT (DULUTH, GA.) 792
ROSWELL INFINITI (ROSWELL, GA.)785
AUSTIN INFINITI (AUSTIN, TEXAS)  767
CREST INFINITI  (FRISCO, TEXAS)  657
INFINITI OF NASHUA (NASHUA, N.H.)  645
GRUBBS INFINITI (GRAPEVINE, TEXAS) 641
SOUTHWEST INFINITI  (HOUSTON) 552
KELLY INFINITI (DANVERS, MASS.) 540

JAGUAR
JAGUAR DFW 330
HENNESSY JAGUAR 286
JAGUAR OF TAMPA 202
JAGUAR FORT LAUDERDALE  173
JAGUAR STEVENS CREEK 167
THE COLLECTION 166
JAGUAR GWINNETT 164
JAGUAR PALM BEACH 160
JAGUAR CINCINNATI 156
JAGUAR SARASOTA 153

KIA
KIA OF CARSON 1,508
KIA OF IRVINE 940
GARDEN GROVE KIA 681
JIM SHORKEY KIA 635
GREENWAY KIA EAST  628
LUTHER KIA OF BLOOMINGTON  618
SUNTRUP KIA 553
REGAL KIA 548
GREENWAY KIA WEST 515
HALLEEN KIA 494

LAND ROVER
LAND ROVER BUCKHEAD 797
LAND ROVER NORTH DADE 430
LAND ROVER ENCINO 392
LAND ROVER DALLAS 366
LAND ROVER SAN ANTONIO 354
LAND ROVER PARAMUS 349
LAND ROVER GLEN COVE 348
LAND ROVER DFW 342
LAND ROVER SAN DIEGO 333
LAND ROVER GWINNETT 329
LAND ROVER FORT LAUDERDALE 329

LEXUS
SEWELL LEXUS 2,471
PARK PLACE LEXUS PLANO 1,680
LEXUS OF GLENDALE 1,343
LONGO LEXUS 1,248
JOHNSON LEXUS OF RALEIGH 1,135
PARK PL. LEXUS GRAPEVINE 1,131
N. PARK LEXUS/SAN ANTONIO 1,022
LEXUS OF CERRITOS 1,011
POHANKA LEXUS CHANTILLY 995
LEXUS OF AUSTIN 970

MAZDA
MAZDA SOUTH  (AUSTIN, TEXAS) 778
MORRIES MINNETONKA MAZDA (MINNETONKA, MINN.) 643
JOHN HINE MAZDA (SAN DIEGO) 629
WAYNE MAZDA (WAYNE, N.J.) 590
ROGER BEASLEY MAZDA CENTRAL (AUSTIN, TEXAS)   552
TOWN NORTH MAZDA  (RICHARDSON, TEXAS) 537
CAPITOL MAZDA (SAN JOSE, CALIF.)  504
ROGER BEASLEY MAZDA GEORGETOWN (GEORGETOWN, TEXAS) 496
MAZDA OF SOUTH CHARLOTTE  (PINEVILLE, N.C.) 479
OAK TREE MAZDA (SAN JOSE, CALIF.) 472
TUSTIN MAZDA  (TUSTIN, CALIF.) 472

MITSUBISHI
INTERSTATE MITSUBISHI  216
MAD CITY MITSUBISHI 111
CHERRY HILL MITSUBISHI 95
BURDICK MITSUBISHI 93
JIM SHORKY MITSUBISHI 86
FIVE STAR MITSUBISHI 80
TONY MANGINO MITSUBISHI  62
ELDER MITSUBISHI 60
MCCLINTON MITSUBISHI  59
NORTHTOWNE MITSUBISHI 59

NISSAN
TROPHY NISSAN  1,782
PEORIA NISSAN 1,394
CREST NISSAN OF FRISCO 1,297
SUTHERLIN NISSAN 1,259
STERLING MCCALL NISSAN 1,195
NISSAN OF MCKINNEY 1,190
COURTESY NISSAN OF TAMPA 1,051
REED NISSAN 1,035
ROUND ROCK NISSAN 928
HUMMEL'S NISSAN 926

TOYOTA
CAVENDER TOYOTA 3,011
LONGO TOYOTA  2,921
DON MCGILL TOYOTA OF KATY  2,095
HAMER TOYOTA 1,925
RUDY LUTHER TOYOTA  1,827
TOYOTA OF CEDAR PARK 1,818
TOYOTA OF BOERNE 1,807
FINDLAY TOYOTA 1,727
AVONDALE TOYOTA 1,694
CENTRAL FLORIDA TOYOTA 1,683

VOLKSWAGEN
LUTHER WEST SIDE VOLKSWAGEN 1,242
LINDSAY VOLKSWAGEN OF DULLES 1,165
BURNSVILLE VOLKSWAGEN, INC. 970
ALEXANDRIA VOLKSWAGEN 918
HENDRICK VOLKSWAGEN FRISCO 850
TOM BUSH VOLKSWAGEN 822
HALL VOLKSWAGEN 786
VOLKSWAGEN OF SALEM  753
SHEEHY VOLKSWAGEN OF SPRINGFIELD 745
CITY VOLKSWAGEN OF CHICAGO 698

VOLVO
PRESTIGE VOLVO 608
VOLVO CARS MALL OF GEORGIA 510
CREST VOLVO CARS 467
DON BEYER VOLVO CARS DULLES 385
VOLVO CARS SAN DIEGO 364
NIELLO VOLVO CARS SACRAMENTO 340
SMYTHE VOLVO CARS 327
MCGRATH VOLVO CARS BARRINGTON 325
AUTOBAHN MOTORCARS 322
THE AUTOBAHN VOLVO CARS OAK PARK 318

CPO drives Asbury’s Q4 used-car sales bump

Admittedly, Asbury Automotive Group didn’t start 2019 as strong as it would have liked on the used-car side.

But it was a different story in the fourth quarter, with same-store used-vehicle sales climbing 10% year-over-year. The big driver?

Certified pre-owned, where sales jumped 16% year-over-year in Q4, president and chief executive officer David Hult said in the retailer’s latest quarterly earnings call.

“The first half of the year we underperformed in pre-owned and weren’t as focused on it as we should have been. And we’ve really been more focused on it in the fourth quarter,” Hult said. “There’s a lot to selling more vehicles. Inventory aging, wholesale losses, reconditioning dollars, finance dollars — there’s a lot to think about when doing it. So that growth, what we’re most proud about, really came through CPO vehicles.

“We’re not out buying a lot of cars, we’re keeping a lot of cars internally, getting a lot from our OEM partners. Our CPO sales in the quarter, alone, on a same-store basis were up 16%,” Hult said. “We’re up 10% overall but 16% on CPO, so we see CPO as a really valuable option for our guests and something that we’re going to continue to take advantage of.

“And we also think it’s a differentiator between us and the independents that can’t offer these same CPO products.”

Digging further into Asbury’s same-store Q4 results, used-vehicle retail revenue was up 10% year-over-year at $465.5 million. Same-store used retail gross profit was up 1% at $29.3 million.

Asbury retailed 20,905 used vehicles in the fourth quarter, up 10% on a same-store basis.

Gross margins on used retail were 6.3% (down from 6.9%), with a gross profit per unit of $1,402.

The latter is down from $1,522 in Q4 2018.

 “Though our gross profit per unit was down, it is important to remember that used-car volume growth also drives increases in reconditioning, parts and service gross profit, as well as F&I business,” senior vice president of operations Dan Clara said during the call. “On average, we generate approximately $4,000 of gross profit when a used vehicle is sold. This includes the used-vehicle gross profit per unit, the F&I per vehicle and reconditioning gross profit per used vehicle.”

One part of Asbury’s pre-owned strategy has been to acquire more vehicles from the consumer. Going out and purchasing used inventory can ultimately pinch margins, Hult said.

“Your only dip in pre-owed when SAAR comes down is acquiring vehicles. Most dealers get their (used) vehicles from customers trading in their vehicles,” Hult said. “And when you purchase cars, or have to purchase cars for your sole inventory, so to speak, your margins are going to be a lot more compressed.

“We’re very focused on this and really trying to connect more directly with the customers, whether they’re buying or not buying, to acquire their trade-in.”

Moving to full-year results, Asbury’s used retail unit sales were up 4% on a same-store basis, with 83,822 units sold.

Used-vehicle retail revenue of $1.85 billion was up 5% on same-store basis; used retail gross profit was essentially flat at $126 million.

Gross margins on used retail was 6.8% (down from 7.2%), with gross profit per unit down 4% at $1,503.

Bentley calls its new CPO program ‘a rarefied ownership experience’

Bentley Motors describes itself as “the most sought-after luxury car brand in the world.”

Now, the automaker has launched a new program that it says “sets the benchmark for exclusive pre-owned cars.”

Bentley Motors estimates that about 85% of all Bentleys ever built are still on the road. The company describes its new Certified by Bentley program as “a rarefied ownership experience” that it says “offers complete peace of mind and meticulous attention to detail.”

The company says each Certified by Bentley model is prepared “to an impeccable standard to ensure total confidence for the buyer.”

That impeccable preparation includes a detailed Bentley technical inspection, access to Bentley’s retailer network expertise and factory-trained technicians.

Bentley says every Certified by Bentley car is fully serviced with only genuine Bentley parts when needed. The company adds that customers have the option of extending its one-year warranty for “continued reassurance.”

A certificate of authenticity is included with every Bentley in the program.

That, according to the company, provides evidence of where it was manufactured and a full service history.

“Serving as a guarantee of quality and performance, these documents provide extra reassurance about the heritage and exemplary craftsmanship that is the hallmark of every Bentley,” the company said in a news release.

“When a customer selects a Certified by Bentley car, they are making an investment in a brand that has always crafted extraordinary vehicles,” said Bentley Motors head of pre-owned Mark Keeping.

Keeping continued, “The exceptional quality of every car means that whether new or Certified by Bentley, owning a Bentley is a wise decision.”

Because cost of ownership is lower than might be expected, that helps make owning a Bentley an option for more potential customers, Keeping said.

He added, “And every car hand-built at our headquarters in Crewe, England, meets the same exquisite standards regardless of when it was built.”

Bentley said the program also gives owners access to what it describes as “a unique and select lifestyle that comes with joining the brand’s network of discerning customers.”

Ownership benefits include invitations to exclusive events around the world, a Bentley factory tour and a subscription to Bentley Magazine.

Bentley writes, “Few cars on the road are as finely crafted as a Certified by Bentley model.”

The company continues, “With a heritage stretching back 100 years, every car to bear the Bentley marque has been built to the same exacting standards, with no compromise on luxury or performance.”

Lexus continues pre-owned win streak with CPO honors from U.S. News

A familiar name has once again topped U.S. News & World Report’s CPO brand rankings. And it also continues a win streak on the pre-owned awards circuit.

U.S. News Best Cars has named its Best Certified Pre-Owned Program award winner for 2020, and taking top honors for the fourth year is Lexus.

(U.S. News Best Cars is the automotive arm of U.S News & World Report.)

The award, announced here Tuesday by U.S. News & World Report, each year recognizes the program with the most benefits for consumers, utilizing U.S. News Best Used Cars rankings data as well as program information from the CPO brands.  

Lexus, specifically, was recognized for the length of its warranty, among other benefits, the publication said in a news release. That warranty coverage lasts for up to two years and has no mileage limit or deductible.

Lexus was also lauded for program amenities like roadside assistance, complimentary loaner cars and four free factory maintenance service visits within the first two years/20,000 miles of owning the car. Moreover, Lexus earned points for its used-car dependability.

"Lexus offers used-car buyers an excellent CPO warranty, as well as a long list of CPO program benefits, like free maintenance visits and a free loaner car," U.S. News Best Cars executive editor Jamie Page Deaton said in the release.

"As an added bonus, Lexus' reliability record means that while their CPO warranty is long, and the program has a lot of perks, owners may never need to use either,” she said.

Lexus also picked up honors in the Vincentric Best Certified Pre-Owned Value in America Awards, which were handed out last week at Used Car Week.

Lexus picked up five segment-level awards in that program, while also winning the Luxury Car brand award for the third straight time.

What’s more, Lexus was the top premium brand in the 2020 Pre-Owned Value Awards from ALG, honors that were also handed out at Used Car Week.

Ford, Subaru & Lexus headline Vincentric 2020 Best CPO Value in America Awards

Among the festivities during Used Car Week 2019, the seventh annual Vincentric Best Certified Pre-Owned (CPO) Value in America Awards were announced.

Leading the way was Ford, which collected six model-level awards. Lexus and Subaru also demonstrated strong CPO value with five and four model-level awards, respectively.

The best in class performance by Ford Vans earned them the Best CPO Value brand award in the Van category for the fourth consecutive year, while a notable showing by Subaru earned the OEM top honors in both the Passenger Car and SUV/Crossover categories.

Lexus took home the Luxury Car brand award for the third time, and Ram won the Truck category brand award for the second year in a row.

Volvo rounded out the brand award winners in the Luxury SUV/Crossover category.

Other brands with multiple model-level victories included Volvo with three awards, while Audi, Ram, Mitsubishi, Toyota, Hyundai, Kia and Nissan showed their strength in the certified pre-owned market with two awards each.

“The Vincentric Best CPO Value in America Awards use a rigorous statistical analysis to determine cost of ownership for competing vehicles,” Vincentric president David Wurster said in a news release.

“Our awards take the guess-work out of shopping for certified pre-owned vehicles by clearly showing consumers which models provide the best value for their money in a variety of segments,” Wurster continued.

To determine the 2020 Vincentric Best CPO Value in America Award winners, Vincentric explained that it conducted a statistical analysis to reveal which vehicles had lower than expected ownership costs given their market segment and price. Vincentric analyzed more than 15,000 vehicle configurations using eight cost factors, including:

—Depreciation
—Fees and taxes
—Financing
—Fuel
—Insurance
—Maintenance
—Opportunity cost
—Repairs

The company explained the costs were measured after incorporating the specific CPO warranty offered by the manufacturer while also applying mileage requirements necessary to be authorized as an OEM CPO vehicle.

Each CPO vehicle was evaluated in all 50 states plus Washington D.C., with the assumption that each would be driven 15,000 miles annually over five years.

Further information regarding the 2020 Vincentric Best CPO Value in America Awards and methodology is available at www.vincentric.com.

ALG: Toyota, Lexus lead the pack in pre-owned value

ALG chief industry analyst Eric Lyman describes certified pre-owned vehicles as a “key contributor to franchise dealer profitability,” and “an indispensable tool for automakers to manage off-lease volume.”

With that in mind, ALG announced the winners of the 2020 Pre-Owned Value Awards, which Lyman says help consumers “zero in on desirable late-model used vehicles that hold their value the most over the next three years.”

For 2020, ALG ranked Toyota and Lexus as the top mainstream brand and premium brand across the board.

ALG awarded the 2020 Pre-Owned Value Awards to vehicles with the lowest forecasted depreciation from 2 years of age to 5 years of age, during the period 2019-2022. ALG bases vehicle segmentation on its proprietary automotive segmentation. That takes into account information such as vehicle size, transaction price, and cross-shop information.

The company will present the awards to automakers today during Used Car Week 2019 in Las Vegas.

With six segment awards, Toyota is the Mainstream Brand leader. The Sequoia, Camry, Tacoma, Highlander, Sienna and 4Runner were the winners, and Toyota has now won POVA’s overall Mainstream Brand category three times.

In the Premium category, Mercedes-Benz leads as the front-runner with four awards in the Electric, Midsize Commercial, Premium Compact and Premium Executive categories.

This year, ALG introduced the Premium Subcompact Utility category, with the Audi Q3 taking top honors.  

In the Premium Performance category The Nissan GT-R continued its dominance. That vehicle won the Pre-Owned Value Award for the fourth year in a row.

ALG determines award winners through analysis of used-vehicle performance, brand outlook and product competitiveness.

To be eligible for a brand award, a manufacturer must have vehicle entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.

The full list of winners:

POVA overall
Mainstream: Toyota
Premium: Lexus

POVA segment
Electric: Mercedes B-Class

Compact: Ford C-Max

Compact utility: Jeep Compass

Full size: Kia Cadenza

Full-size commercial: Ram ProMaster

Full-size pickup: GMC Sierra 1500

Full-size utility: Toyota Sequoia

Midsize: Toyota Camry

Midsize commercial: Mercedes-Benz Metris

Midsize pickup: Toyota Tacoma

Midsize utility 2^nd row seating: Subaru Outback

Midsize utility 3^rd row seating: Toyota Highlander

Minivan: Toyota Sienna

Off-road utility: Toyota 4Runner

Premium Subcompact utility: Audi Q3

Premium compact: Mercedes-Benz CLA Class

Premium compact utility: Land Rover Discovery Sport

Premium executive: Mercedes-Benz S-Class

Premium fullsize: Cadillac CT6

Premium fullsize utility: Cadillac Escalade

Premium midsize: Infiniti Q50

Premium midsize utility 2^nd row seating: Lexus RX

Premium midsize utility 3^rd row seating: Lexus GX

Premium sportscar: Nissan GT-R

Sportscar: Subaru BRZ

Subcompact: Mitsubishi Mirage

Subcompact utility: Honda HR-V