CPO Sales Rise Third Month in a Row – Remarketing



March’s CPO result is the highest since September 2021 and is the third straight uptick this year.  - Source: Cox Automotive

March’s CPO result’s the best since September 2021 and is the third straight uptick this 12 months. 

Supply: Cox Automotive

Licensed pre-owned (CPO) gross sales in March rose to 219,360 items, up 14.3% from February’s 191,860, however down practically 23.3% from March 2021, Cox Automotive reported April 13. March’s CPO result’s the best since September 2021 and is the third straight uptick this 12 months. 

Used-vehicle gross sales in March have been down practically 12% from one 12 months in the past, in response to Cox Automotive estimates. The seasonally adjusted annual charge, or SAAR, was 38 million in March, down from February’s revised 34 million, and down from March 2021’s sizzling tempo of 43.1 million. Used retail gross sales have been additionally decrease in March, estimated to be down about 11% from final March.

“Restricted new-vehicle stock has slowed the gently used phase on account of fewer trade-ins. And better costs have slowed the gross sales of older model-year autos,” stated Charles Chesbrough, senior economist at Cox Automotive. “Gross sales are more likely to be barely much less this spring promoting season.”

CPO Gross sales Forecast Revised Down for 2022

The Cox Automotive forecasts for 2022 have been revised on the finish of the primary quarter. A downward revision was made to the 2022 CPO gross sales forecast bringing it to 2.8 million items. Attributable to fierce competitors in nearly-new autos, together with from rental automobile corporations, CPO will wrestle with setting a document this 12 months.

 

Initially posted on Vehicle Remarketing



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