(IHS Markit) Sales of certified pre-owned vehicles rose up to 1,218,255 units from January to July 2021, an 11% increase from the comparable period of last year.
Fig: YoY CPO Increase
The increase in CPO vehicles reflects the ongoing semiconductor shortage and microchip shortfalls that have constrained production.
Consumers are also being kept out by the high costs of new vehicles and have instead shifted to CPOs.
The CPO industry has been experiencing consistent growth over the last three years, except in 2020 due to Covid019.
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