Certified pre-owned in automotive: Why now is the time to act

Certified pre-owned (CPO) cars are set to play a pivotal role in the future of the automotive industry. Sustainability concerns, technology shifts, and consumer calls for affordability are creating the perfect storm for CPOs in the years to come. In an era where new car prices are at an all-time high, CPO vehicles also provide attractive entry points to premium & luxury brands. Fueled by a general market dynamic towards higher-value offerings, CPO programs clearly need to adapt to rising customer expectations.

To better understand where automotive CPOs stand today and explore how consumers are responding, we surveyed 1.000 consumers on their personal needs and preferences for certified pre-owned programs. Importantly, we learned that automotive consumers are becoming aware of certified pre-owned programs and that now is the time to act: Consumers choose CPOs not only for to their relative price advantages, but increasingly seek high-value offerings and experiences similar to new car purchases. We learned that both digital and physical touchpoints will be key to provide an engaging customer experience. It is essential to get these touchpoints of the CPO journey right to win over customers and tap into new profit pools.

Read more below.

Share