Bingo. This echos what I'm hearing from friends in the business here in Northeast Ohio: CPO sales are booming, new vehicle sales are in the crapper.
Of my friends who are looking at "new cars", three of them are looking at CPOs. For them it's not so much an economy issue, it is a matter of basic math: the price of new 'luxury' vehicles has grown so much and the savings on 1 - 2 year used models is so great that it hardly makes sense to jump in and buy new any longer.
I wonder if this will be be a long term, growing trend?
|Quote, originally posted by jperryrocks »|
|We're selling an incredible amount of CPO's at our store. New car sales are falling off everywhere. People are scaling down due to the economy. Instead of brand new, people want to save on depreciation.|
Finacially, I'm having my best year ever @ Audi. You make a lot more money on used cars to begin with. The new car margins for Audi's are the lowest of any highline brand.
I'm happy as can be selling 75% used and CPO, and the rest new.