Certified Pre-Owned Vehicle Sales Surge 21.5% in January, But Challenges Remain
February 16, 2023Certified pre-owned vehicle sales in the US climbed 21.5% in January 2023 compared to the same month in the previous year.
The trend is mainly due to the increased demand for used cars as supply chain disruptions have led to shortages of new vehicles.
However, the surge in sales has also created some challenges for dealerships, including a shortage of used cars and rising prices.
Moreover, some manufacturers are shifting focus towards new vehicles, potentially reducing the number of vehicles available for certification.
Additionally, rising interest rates and increased competition may make it more challenging for dealerships to maintain the current level of sales.
Furthermore, while the increased sales of certified pre-owned vehicles benefit both customers and dealerships, it may negatively impact the sales of new cars.
Overall, the surge in sales of certified pre-owned vehicles has both positive and negative impacts on the automotive industry, and dealerships must navigate these challenges to sustain their growth.
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