CPO Sales Taking Off

Aug 18, 2010

If you’re looking for new fleet vehicles, now seems to be a good time to look into certified pre-owned vehicles:

Certified pre-owned sales came roaring back in July, which was the strongest CPO month the industry has seen in more than two years.

In fact, a slew of brands reported all-time records for CPO sales, according to Autodata Corp.

Overall, Autodata Corp. indicated that there were 153,259 certified units sold in July. The last time CPO sales reached this level was May 2008, the company noted.

July's figures marked a 19.1-percent gain over the prior-year period. The CPO market notched an 11.2-percent gain from June.

In addition to discussing their results from July, several automakers also shared with Auto Remarketing how they are utilizing the Web as an effective avenue for selling CPO vehicles.

For instance, Toyota — which hit a best-ever July with sales of 29,344 certified units sold — has benefited greatly from using the Web to move certified units, including some traction gained on the hybrid side of the CPO market.

"Interactive for us is a huge part of our marketing," shared Scott Heyer, corporate manager for fleet, TRAC and TCUV at Toyota Motor Sales, USA. "We just recognize that more and more consumers are turning to the Internet for information, shopping and consideration."

Toyota launched a website specifically for hybrid CPO vehicles in early 2008, and this has helped to push sales for these vehicles up significantly. For instance, there were 7,262 hybrid CPO vehicles sold by Toyota in 2007. That number jumped to 17,348 in 2009. 

[via Auto Remarketing]

Photo courtesy of The Consumerist and re-used under the Creative Commons license.