Americans bought more than 225,000 Certified Pre-Owned (CPO) cars in September. That’s a 2% increase from August and a 1% increase compared to September of last year.
Selling too fast for certification
But the slight increase masks a startling phenomenon. CPO sales could have been much higher, except that dealers may be selling used cars too fast to pass them through the certification process. That creates a unique buying opportunity for smart shoppers (more on that in a moment).
Kevin Chartier, vice president at Manheim Consulting, explains, “In today’s market, everything is selling so quickly and at such high prices, that I think that in many cases the dealers are selling cars before they get a chance to pull them into their shops to spend the time to recondition them up to full CPO standards.”
(Manheim Consulting and Kelley Blue Book share the same parent company, Cox Automotive.)