CPO Sales Notch Seventh Straight Month of Gains
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Monthly certified pre-owned sales improved on a year-over-year basis for the seventh straight time in September. Automakers closed a third quarter of sales that showed a climb of double digits from the same 2009 period.
According to Autodata Corp., the industry moved 135,379 CPO units during September. This was a 21.5-percent gain from the year-ago period. Putting the results into perspective, Autodata noted that September 2009 was the slowest CPO month the industry has seen in quite some time.
Through the first nine months of 2010, the industry moved just more than 1.23 million certified vehicles, which is 3.1 percent ahead of where CPO sales were at this point of 2009.
Moreover, this year-to-date improvement represented the third consecutive month that the year-to-date comparable has been positive.
These months of growth were all in the third quarter, which ended Sept. 30. During this period, the industry moved 430,654 CPO vehicles, a 13.9-percent year-over-year uptick.
Looking at how individual automakers fared, Hyundai generated an all-time high CPO sales total for September, moving 2,195 vehicles, up 50.2-percent year-over-year. Not only was it the best September, but it marked the second highest CPO sales total Hyundai has ever recorded.
Through the first nine months of the year, Hyundai sold 15,904 CPO vehicles, an uptick of 42.7 percent.
“Dealers continue to report strong showroom traffic resulting from expanded online merchandising and attractive low-APR consumer financing through Hyundai Motor Finance for all Hyundai CPO vehicles,” said Tracy Bowes, national manager of retail operations for Hyundai Motor America.
“Dealer participation in the CPO program continues to grow each month, and September was another record with more than half of all Hyundai dealers selling at least one CPO unit,” he continued.
Bowes added: “That’s an increase of 51 percent from January of this year. Hyundai dealers recognize the value of the program, which is generating additional showroom traffic, significantly reducing inventory turn times, and increasing gross profits.”
Kia, meanwhile, sold 562 certified vehicles during the month, a 58.3-percent hike over September 2009. Year-to-date sales stood at 5,387 CPO units, which is ahead of last year’s pace by 69.6 percent.
Mercedes-Benz notched CPO sales of 6,248 vehicles, which was 17.5-percent stronger than the year-ago period. Through September, the automaker has moved 60,968 certified vehicles, which is a 7.5-percent uptick.
“September’s performance exceeded our expectations,” shared Scott Penza, manager of pre-owned operations for Mercedes-Benz USA.
“This September is the best in over five years, which keeps Mercedes-Benz CPO on pace for a strong finish in 2010,” he added.
Over at Mazda, its dealers moved 1,250 certified units, up 179 percent from the year-ago period. CPO sales for the first nine months of the year reached 6,250 units, a 65-percent improvement.
“In July, Mazda launch a revamped certified pre-owned program. Since July, Mazda CPO sales have shown significant YOY sales increases each month,” said Eric Watson, manager of remarketing and CPO for Mazda North American Operations.
“Mazda dealers have healthy CPO inventory levels and are poised to continue seeing significant YOY growth,” he added.
Toyota celebrated its sixth consecutive month of setting record CPO sales for as it moved 24,988 units, its strongest September of all time, according to Tom DeLuise, national manager for TRAC and TCUV.
This was a 19.7-percent uptick from September 2009. Through the year’s first nine months, Toyota has moved 234,290 certified rides, a gain of 14.8 percent.
At this rate, Toyota will get to celebrate its first time eclipsing yearly CPO sales of 300,000 units, DeLuise highlighted.
Lexus also had its strongest September on record as it moved 5,595 units. This was a 3.1-percent uptick from September 2009, which was the prior record for September.
Year-to-date, Lexus moved 50,002 CPO units, a 7.4-percent improvement over the same nine months of 2009.
Among domestics, all of General Motors certified brands combined to sell 24,131 CPO units, a 7.2-percent uptick from a year ago. So far this year, there have been 228,307 certified units moved, a 19.2-percent decrease.
As far as GM Certified Used Vehicles, it sold 22,064 units in September, which includes sales for Buick, Chevrolet, GMC, Pontiac and Saturn.
Comparatively, GM Certified moved 19,866 units in September 2009, which includes Buick, Chevrolet, GMC, Oldsmobile and Pontiac, but not Saturn.
Through nine months of 2010, GM Certified — meaning Buick, Chevrolet, GMC, Pontiac and Saturn — sold 208,105 units. At this point in 2009, the Buick, Chevrolet, GMC, Oldsmobile and Pontiac brands had sold 246,498 CPO vehicles.
For comparison purposes, Saab was not included in any of the aforementioned periods. It moved 206 units in September, a 43.1-percent decrease from the same period of 2009. Year-to-date sales through September were at 2,097 units, down 47.5 percent year-over-year.
“The used-car market continues to strengthen,” explained Larry Pryg, manager of GM Certified Used Vehicles. “Our September result was solid, and we’re looking forward to continued gains in the months ahead.”
Meanwhile, Ford posted a 13.7-percent year-over-year improvement in its CPO sales, which reached 10,064 vehicles for September. Through September, it sold 101,444 certified units, which is 2.8 percent softer than last year’s pace.
By brand, the Ford division moved 8,635 CPO vehicles during the month, which was 13.5 percent healthier than the year-ago figure. Lincoln/Mercury had certified sales of 1,429 units, a 14.8-percent gain.
Over at Chrysler, its CPO sales hit 8,938 units, a 53.9-percent year-over-year improvement. Year-to-date sales stood at 80,161 certified units, an 11-percent jump from the comparable 2009 period.
By brand, Dodge moved 3,474 CPO vehicles, a 47.8-percent uptick. Jeep sold 3,121 CPO models for a 64.7-percent gain. The Chrysler division certified sales came in at 2,343 units, a 49.9-percent increase.
Looking at BMW, the automaker posted certified sales of 9,189 units during the month, up 14.4 percent versus September 2009. Its year-to-date sales reached 85,169, up from 84,515 units in the year-ago period.
As for Volkswagen, its dealers moved 4,869 CPO vehicles for the month, an uptick of 56.6 percent. Year-to-date sales stood at 40,618 units, an improvement of 14.9 percent over the same period of last year.
Audi moved 2,275 certified vehicles in September, up from 1,867 CPO units sold in the year-ago period.
Through the nine-month period,, its CPO sales have totaled 21,025 vehicles, compared to 23,039 certified vehicles sold through September 2009.
Moving on, Honda moved 18,282 certified vehicles, up 45.6 percent year-over-year and its strongest September ever. Through nine months of 2010, the automaker’s dealers moved 153,834 CPO vehicles for a 22.7-percent gain.
"Throughout the third quarter of this year, the Honda dealers did a great job of maintaining a high inventory level of HCUC vehicles, which is critical to achieve record-breaking sales months like we have enjoyed this quarter," said Dan Crowe, national remarketing manager for Honda.
"For Acura, the story is very much the same," he added.
Specifically, CPO sales for Acura came in at 3,700 units, compared with 2,887 a year ago. Year-to-date sales stood at 33,384 CPO vehicles, an upswing of 6.4 percent.
At Nissan, its CPO sales hit 8,296 vehicles, compared with 6,683 certified rides moved in September 2009. Year-to-date sales were 70,180 CPO units, up from 60,087 certified vehicles sold through the first nine months of 2009.
By brand, the Nissan division’s sales reached 7,411 units, a gain of 28.8 percent. Infiniti, meanwhile, dipped 4.5 percent to 885 certified vehicles sold.
Through September, Nissan sold 61,618 certified vehicles, a 20.1-percent lift, while Infiniti witnessed a 2.7-percent drop to 8,562 certified sales.
At Volvo, its dealers sold 1,363 CPO units for the month, down from 1,946 in September 2009. At the end of nine months, Volvo has sold 13,634 certified units. At this point a year ago, this number stood at 18,190 certified vehicles.
Subaru’s CPO sales were at 1,776 units for the month, a 20.4-percent improvement. Year-to-date sales stood at 14,673 units, a 30.4-percent gain.
Among other automakers, Porsche moved 616 CPO vehicles, up from 521 in September 2009.
Jaguar’s certified sales, meanwhile, reached 387 units, compared with 351 vehicles a year ago. Land Rover sold 232 certified rides, compared with 338 in the same period of 2009.
Mini’s CPO sales reached 132 units, compared with 125 in September 2009.
Bentley was estimated to have sold 30 units in September, same as a year ago. Mitsubishi dealers moved 26 units, even with the same period of 2009.
And finally, Maserati’s CPO sales hit 21 units, versus nine last year.