"Auto Industry Trends: CPO Sales Rise as Service Revenue Declines"

The rising cost of new cars has led many buyers to explore pre-owned options, with certified pre-owned (CPO) car sales seeing a 21.5% increase in January 2023 over the preceding year. Some automakers have expanded their CPO programs to include older models and offer extended financing options. CPO cars go through a rigorous inspection process, ensuring no identifiable problems lurk beneath the vehicle's exterior, and finance companies offer lower interest rates and longer-term loan options compared to other pre-owned vehicles. However, Cox Automotive predicts a decline in CPO sales in 2023 due to a limited availability of CPO units.