If there’s anything that consumers have learned from the COVID-19 pandemic, it’s how fragile the supply line is across all industries.
The shortage of semiconductors and microchips nearly halted the manufacturing of new cars, which led to a surge in drivers looking at used cars for sale. Of course, there are still those who don’t want to take the risk on an older car. That’s why the certified pre-owned (CPO) market is taking on a new role in the upcoming post-pandemic world.
What Are CPO Vehicles?
Certified pre-owned used cars for sale are popular among those who want the quality of a like-new vehicle but don’t want to pay for a brand new model. There’s no guarantee that a CPO will be in perfect shape, but auto brands go through great lengths to ensure only the best of the best earn this distinction.
Typically, to become part of the certified program, vehicles can only be so many years old with a cap on the number of miles on the engine. Chevrolet, for example, requires that CPOs be no older than six years old with no more than 75,000 total miles. Every CPO vehicle from every brand must also pass a full, multi-point inspection and have a clean vehicle history report.
On top of having any recall work completed, CPOs also come with special warranties, roadside assistance, or other perks, depending on the automaker. Mazda, for example, provides a 12-month/12,000-mile limited warranty, a seven-year/100,000-mile powertrain warranty, and 12-hour emergency roadside assistance as part of their CPO program.
CPO In the Era Of COVID-19
As the pandemic wreaked havoc across the globe, drivers were unable to obtain new cars. This delay was primarily due to a shortage of semiconductors and microchips used in new vehicle manufacturing. These computer chips were in high demand from electronic manufacturers across multiple industries.
Drivers who fled congested cities found that their new homes in the suburbs required a car to get around town. Others felt the need to buy a car to avoid crowded transportation. Those shopping for cars found that brand new models weren’t really options. CPOs, on the other hand, provided more opportunities. More importantly, buying CPOs reduced the risks associated with used cars for sale. Drivers could bring their upgraded rides home with confidence.
CPOs in a Post Pandemic World
While new car inventories are slowly being replenished, CPO numbers seem to be getting back to pre-pandemic levels. The importance of these vehicles isn’t going to diminish, however. Many shoppers saw the tremendous value associated with a certified used car. There’s a good chance that these shoppers will never go back to buying brand new cars again.
Another factor that might make CPOs stand out for a while is the available technology. To help get new cars off the assembly line, some manufacturers are foregoing technology to help reduce the number of microchips needed in the vehicle’s build. That means current models may not come with some of the features drivers love, like heated seats or interior ambient lights.
CPOs may be the most likely option for drivers who still want these features. While advanced tech options are sure to come back as manufacturers catch up on production, there may be a few years before new models have all of the available tech.
CPOs Have Always Played a Critical Role in The Auto Industry
It’s no surprise that CPO vehicles have always been an important part of the automotive market. Manufacturers can separate out the best of the best of their lineups, and drivers can get a higher-quality vehicle with tremendous value.
Many drivers saw just how incredible CPO used cars for sale are, which means this segment is likely to continue to grow, even when the pandemic is in our rearview mirror.
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