Kia Reports Record Certified Pre-Owned Vehicle Sales
Kia is all about giving its customers a lot of luxury for as little a price as possible—and this is a philosophy that extends to the brand’s Certified Pre-Owned (CPO) vehicles, too. While Kia’s regular sales are setting records month after month, the South Korean carmaker’s CPO vehicles are also celebrating all-time sales highs this summer.
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According to Autodata’s July CPO sales report, Kia is one of the fastest-growing brands in the industry. In the month of July, the carmaker managed to have a 3% market share in Certified Pre-Owned sales. These sales mark the second-strongest month Kia has had in CPO sales, following the month of June. Each month has reported sales gains of over 20% in comparison with the same time periods last year.
Kia’s record-breaking sales in the CPO segment highlight a current trend in the industry. More and more consumers are choosing to purchase Certified Pre-Owned vehicles rather than new vehicles, thanks to the CPO vehicles’ lower prices and low mileage. “With household budgets squeezed, CPO vehicles represent a great opportunity for consumers, especially Kia customers who place such emphasis on affordability and value,” said Michelle Krebs, a senior analyst at AutoTrader.
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To become a Certified Pre-Owned vehicle in Kia’s program, a Kia model can only be five years or newer with less than 60,000 miles on it. Each vehicle must undergo a 150-point Quality Assurance inspection, which is completed by a Kia technician. Kia also gives each CPO vehicle the brand’s industry-leading 10-year/100,000-mile powertrain warranty and a 12-month/12,000-mile Platinum Coverage.