Monday, Feb. 20, 2023, 03:19 PM
Certified used vehicle sales will decline in 2023, their prices will remain elevated but come down from historical highs and leasing is poised to grow, predict industry analysts.
Cox Automotive data shows that CPO sales in 2022 totaled nearly 2.47 million units, a decline of nearly 280,000 units or 10.2% lower than sales in 2021. The company predicts that CPO sales in 2023 will slide another 11% to 2.2 million units, the segment’s lowest volume in 10 years.
That said, CPO sales got off to a strong start this year.
The industry sold 202,074 CPO units in January, up 21.5% when compared to sales in January 2022, but down 10% compared to December 2022, according to Cox Automotive. The company also said January CPO sales typically show a decline month over month.
The big reason CPO sales are forecasted to stall this year is …
Source : AutoFinanceNews
