Sorry for interrupting, this website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Learn more
Accept & Close

Certified Pre-owned Cars - US - August 2015

The certified pre-owned car market is small but growing. Certified pre-owned (CPO) cars are used cars that have been certified by a manufacturer or dealership. Certification means that these vehicles are in very good or excellent condition and have passed an inspection by a trained technician, and it often means that these vehicles are under a certain amount of mileage or under a certain age. CPO cars often come with a factory- or dealer-backed warranty, a roadside assistance plan, a service plan, or some combination thereof. They are also often regarded as being better-maintained by the first owner than most used cars.

This report looks at the following areas:

  • CPO purchase intent is low
  • Economic challenges still affect consumers

What you get

What's included

Why buy from us?

Succeed

Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.

Instant Access

Buy now and you'll have instant access to the information you need to make the right decisions.

Opportunities

Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.

Trusted

A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • CPO purchase intent is low
            • Figure 1: Intention to Purchase CPO, May 2015
          • Economic challenges still affect consumers
            • The opportunities
              • CPO cars provide a gateway to luxury brands
                • Figure 2: Consideration of brands, May 2015
              • CPO cars can provide peace of mind
                • Awareness of CPO cars strong, as is consideration
                  • Figure 3: Awareness of CPO cars, May 2015
                • Awareness of CPO cars strong, as is consideration
                  • Figure 4: Consideration of CPO cars, May 2015
                • What it means
                • The Market – What You Need to Know

                  • CPO market is small but growing
                    • Rising consumer expenditures drive the overall used-car market
                    • Market Size and Forecast

                      • CPO market poised to grow
                        • Figure 5: Total US sales of CPO cars, 2010-20
                    • Market Factors

                      • Economic bounce back could help CPO market
                        • Figure 6: Real gross domestic product and related measures: percent change from preceding period
                      • Consumer expenditures on motor vehicles are increasing
                        • Figure 7: Personal consumption expenditures by major type of product, 2013-15
                    • Key Players – What You Need to Know

                      • Luxury brands are strong when it comes to brand consideration
                        • Toyota garners high interest when it comes to CPO cars
                          • CarMax is an outlier in the CPO world
                          • What’s Working?

                            • Lexus, Mercedes-Benz, BMW, Audi outpacing other luxury brands
                              • Toyota garners strong CPO interest
                              • What’s Struggling?

                                • Jaguar, Land Rover, Porsche not generating as much interest
                                • What’s Next?

                                  • Automakers have an opportunity when it comes to CPO
                                  • The Consumer – What You Need to Know

                                    • CPO car purchase intention is low
                                      • Yet, CPO awareness is high
                                        • So is CPO consideration
                                        • CPO Purchase Intention Not Strong

                                          • New cars are capturing consumer attention
                                              • Figure 8: Intention to Purchase CPO, May 2015
                                            • Types of vehicles being considered
                                              • Figure 9: Type of vehicle considered, May 2015
                                          • Awareness, Consideration of CPO Cars is High

                                            • Consumers are aware of CPO cars, despite purchase intentions
                                              • Figure 10: Awareness of CPO cars, May 2015
                                            • With solid consumer consideration, CPO segment could present a ripe opportunity
                                              • Figure 11: Consideration of CPO cars, May 2015
                                            • Higher CPO awareness results in higher CPO consideration
                                              • Figure 12: Consideration of CPO cars – Rebased to those who have heard of CPO vehicle programs, May 2015
                                          • Toyota and Luxury Brands Are Heavily Considered

                                            • Toyota outpaces even luxury brands when it comes to CPO consideration
                                              • Figure 13: Consideration of brands, May 2015
                                          • Price, Warranty, Maintenance Drive CPO Appeal

                                            • Lower sticker price and the presence of a factory warranty are equally attractive
                                                • Figure 14: Appeal of CPO vehicles, May 2015
                                            • Parents, Blacks Have Interest in CPO

                                              • Parents much more interested in CPO cars
                                                • Figure 15: Consideration of CPO cars, by demographics, May 2015
                                              • Black consumers present an opportunity
                                                • Figure 16: Blacks' expected car buying timing, by gender and age, January 2015
                                            • Appendix – Data Sources and Abbreviations

                                              • Data sources
                                                • Consumer survey data
                                                  • Abbreviations and terms

                                                  Companies Covered

                                                  To learn more about the companies covered in this report please contact us.

                                                  Certified Pre-owned Cars - US - August 2015

                                                  £3,199.84 (Excl.Tax)