Dealers donêt charge enough for CPO vehicles, study finds
Certified pre-owned vehicles are a good profit center for dealers, but it could be a bigger one, said a new study from Cox Automotive. Three million consumers are currently interested in a CPO vehicle, and that number could increase to 5.2 million by 2020. Thatês good news, with all the cars coming off lease in the next few years. Click here for more information on that trend, as reported in last weekês WANADA Bulletin.
CPO vehicles have many benefits for dealers, according to the Cox study: They sell five days faster than other used cars. They have 20 percent more turns per years. And consumers are willing to pay $3,144 more for CPO than for a noncertified used car. Yet dealers report that consumers pay just $1,260 above the noncertified price.Download Bulletin PDF