February Sales Results Reflect Growing CPO Market
With the certified pre-owned market growing at a rapid rate across Canada and the U.S, the majority of February CPO sales results were a good indicator growth is not slowing anytime soon.
For example, over at Audi, Elankum Vairavanathan, manager of incentives, planning and certified pre-owned sales at Audi Canada, said, “The strong demand for certified pre-owned Audis that we saw in 2014 continues into 2015.”
In February, the Audi Canada dealer network sold 386 CPO Audis, which represents a 21-percent year-over-year increase.
So far this year, the company has sold 784 CPO vehicles, which is up 17 percent over 2014 rates.
Volvo Cars of Canada also saw a double-digit spike in CPO sales for the month of February. The automaker sold 109 CPO vehicles last month, which is up 22.5 percent year-over-year. Year-to-date, Volvo Cars of Canada has sold 240 certified vehicles, compared to 190 in 2014, notching a 26.3-percent sales spike.
Vokswagen Canada’s CPO sales slowed slightly this past month, with 1,158 CPO units sold in February. This is down 13 percent from the 1,331 sold during the same month last year. During the first two months of the year, VW Canada sold 2,334 CPO vehicles, down 8.8 percent from the 2,559 retailed during the same time last year.
And despite the frigid temperatures in February, the BMW Canada dealer network sold 572 CPO BMWs, which represents a 11.5 percent year-over-year increase. So far this year, the company has sold 1,082 CPO vehicles, which is up 7.5 percent over 2014 rates.
So far this year, the company has sold 1082 CPO vehicles, which is up 7.5% over 2014 rates.
Mercedes-Benz Canada also reported a strong month for used sales. The Mercedes-Benz Pre-Owned division sold 915 vehicles last month (which includes CPO sales and late-model used) marking an 11-percent increase year-over-year. Year-to-date, CPO sales, specifically, have spiked by 10 percent and account for 79.9 percent of the automaker’s used sales.
Lastly for the European automakers, Porsche Approved CPO sales reached 84 units for the month of February.
Moving along to highlight a few Asian automakers, Tom Opratko, manager of business management and certified pre-owned at Subaru Canada Inc., told Auto Remarketing Canada the automaker has successfully launched its updated CPO program and is gaining traction — more then doubling their monthly sales.
Last month, Subaru Canada sold 47 CPO vehicles, versus 21 during February 2014. Year-to-date, the automaker has sold 69 certified vehicles, versus 40 during the same period of 2014.
Mazda Canada continues to see CPO sales increase after a successful 2014. The brand sold 326 CPO vehicles last month, up from 292 sold during February 2014.
And Toyota Canada, who saw stagnant CPO sales last year, is gaining steam with 2015 underway.
Last month, the company sold 1,348 CPO vehicles, up from 1,240 sold during February 2014.
Year-to-date sales are up slightly, as well. The company sold 2,690 CPO vehicles during the first two months of the year, up from 2,683 sold during the same period of 2014.