Edmunds experts say that these market conditions have never been more favorable for CPO vehicles, but there's an opportunity for automakers to better educate car shoppers on the benefits of these programs. According to Google Trends data, relative search interest for CPO vehicles has steadily increased over the last five years, but the top pages viewed on Edmunds for shoppers of CPO vehicles are "What Are Certified Pre-Owned Vehicles?" and "Certified Pre-Owned Cars Vs. Used Cars With Extended Warranties."
"Many shoppers are unaware of the benefits of CPO vehicle programs, but given the tough financial conditions in the new market, it's never been a better time to look into them," said Drury. "Between more affordable prices, the assurance of an automaker warranty, and lower interest rates, CPO vehicles give car shoppers a way to enjoy many of the benefits of a new car and minimize many of the risks of buying a used car."
For more insights on the latest trends in the used car market, read the complete 2019 Used Vehicle Outlook report on the Industry Center here.
About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.