McLEAN, Va. -

Sales of certified pre-owned vehicles are setting records. But a study commissioned by NADA Used Car Guide found consumer awareness about CPO programs still has plenty of room to improve.

In a special report shared with Auto Remarketing on Tuesday, NADA UCG determined 50 percent of 18- to 34-year-olds who participated in the survey stated they were either slightly, or not at all, familiar with CPO programs.

For older consumers, the findings were a little better.

Analysts noted only 40 to 44 percent of respondents (35- to 75-plus years old) reported similarly low familiarity with CPO programs.

NADA UCG indicated the gender of survey respondents correlated to a greater divide in certified pre-owned vehicle awareness. According to results in the August Perspective report:

• More than one third of male respondents indicated they were slightly, or not all, familiar with CPO programs.

• 39 percent of male respondents felt moderately to extremely familiar with certified pre-owned programs.

• 23 percent of male respondents reported being somewhat familiar with CPO programs.

Analysts pointed out women were less knowledgeable, with nearly 60 percent expressing little to no familiarity with the certified vehicle purchase option. Also, fewer than 25 percent of female respondents felt they were moderately or extremely familiar with CPO programs.

NADA UCG continued the survey by asking “What type of vehicle will you consider buying in the future?” The prospects for CPO was a bit dim as the findings went this way:

• 8 percent of respondents declared they would only consider buying CPO in the future.

• 17 percent stated they would strictly shop for new vehicles.

• 44 percent answered they would strictly buy used vehicles.

While the number of CPO-only shoppers was small, analysts mentioned 27 percent of respondents stated their willingness to consider CPO alongside either a new or used vehicle.

NADA UCG also asked, “How likely are you to consider purchasing a certified pre-owned vehicle in the future?” Analysts found that 52 percent of 18- to 34-year-old respondents stated they were neutral in their commitment to a future CPO purchase.

NADA Used Car Guide’s 2016 Certified Pre-Owned Consumer survey was conducted on NADAguides.com from May 27 to June 3.

Editor’s note: Stay tuned for another report detailing survey results regarding what premium consumers are willing to pay for CPO models.