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Canadian Automakers Top Results

Canadian Automakers Achieve Healthy CPO Sales Yet Again

September 16, 2011 | TORONTO

Toyota Camry

Auto Remarketing Canada learned that several automakers saw double-digit CPO gains during the month, continuing rather robust years in the certified segment.

In fact, the Toyota brand ? though its year-over-year gain was just shy of double-digits ? had its strongest August ever for CPO sales in Canada.

It moved 2,005 certified vehicles, which marked a 9.4-percent year-over-year improvement. Through August, there have been 13,975 CPO Toyota-brand units sold this year, a 15.2-percent hike over the year-ago period.

Other automakers also shared with Auto Remarketing Canada their respective CPO sales for August.

Moving along, Mercedes-Benz moved 1,313 pre-owned units in August, up almost 34 percent year-over-year. Year-to-date sales hit 8,705 units, marking a 26.3-percent hike.

"We are currently in the process of transitioning our inventory as the 2012 models are beginning to arrive at our dealerships from coast-to-coast," said Tim Reuss, president and chief executive officer of Mercedes-Benz Canada. "While new-vehicle inventory levels may be slightly lower than usual during this interim period, especially for our luxury light trucks, it is extremely rewarding to see continued exponential growth of our pre-owned sales in Canada.

"This demonstrates that the significant investments in our pre-owned processes and infrastructure have most definitely translated into incremental sales, allowing us to expand the Mercedes-Benz family in record numbers," he added.

Over at Audi, the brand showed a substantial gain in August, as well, boosting its certified sales by 29.6 percent as it moved 394 units.

Jonathan Breton, manager of CPO and corporate sales, said that Audi is on pace to hit an all-time high for full-year sales. In the first eight months of 2011, its certified numbers climbed 25.5 percent from the same period of 2010, coming in at 2,771 vehicles.

"Looking back on the month, we've seen a strong overall demand for our products, with models such as the A5, A6 and Q7 doing particularly well," Breton said.

Volkswagen moved 1,081 certified units in Canada during August, up from 1,053 in the same period of 2010. Year-to-date sales stand at 7,703 units, compared to 7,643 CPO sales through the first eight months of 2010.

Over at Subaru Canada, its CPO sales in August fell from a 40 units to 31 on a year-over-year basis. Year-to-date sales were at 218 vehicles, down from 253 certified sales a year ago.

"In speaking with the dealers, the major issue that they are all facing is sourcing quality used Subaru's that meet the eligibility requirements of the CPO program," said Tom Opratko, manager of business management and CPO at Subaru Canada.

"The demographics of the Subaru buyer are such that an above average number of our lease customers exercise the purchase option at maturity," he added. "This obviously speaks highly of the quality of the product and the brand, but it does pose a challenge to the CPO program."

Next up, Volvo Cars of Canada saw its CPO sales climb from 72 sales in August 2010 to 164 CPO sales in the most recently completed month. Month-over-month, certified sales were up more than 30 percent.

Year-to-date sales for Volvo have hit 802 certified vehicles, compared to 526 sales in the same period of 2010.

"Consumers continue to look towards Volvo for pre-owned vehicles as we provide safe, stylish vehicles with high residual value," stated Emanuel Lichtinshtein, national fleet sales, CPO and remarketing manager. "Given consumer debt levels in Canada are on the rise, it's wise to invest in a high-performance vehicle that bundles reliability, fuel-efficiency, industry-leading safety and innovative technology in one.

"The excellent performance of our new CPO program is proof that customers are responding to what we believe is an industry-leading offer," Lichtinshtein added.

Lastly, at BMW Group Canada, the BMW division moved 1,095 certified vehicles in August, down 4.1 percent year-over-year. However, year-to-date sales were up 3.7 percent at 8,665 vehicles sold.

The Mini division's CPO sales fell 9.6 percent with 142 units moved, while year-to-sales climbed 47.6 percent at 1,458 units.

***Article quoted from Auto Remarketing Canada's website****