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CPO sales rebound amid new-vehicle shortage

The industry’s leading automakers for CPO sales were off to a solid year through August. Toyota Motor North America’s certified sales jumped 21 percent to 343,470 vehicles in the first eight months of 2021. General Motors’ CPO sales increased 11 percent to 248,301. American Honda was up 15 percent to 222,598. Stellantis rose 4.5 percent to 208,435. Ford Motor Co. also increased 5.1 percent, to 151,193.

For Toyota, certified vehicles have turned at a faster rate this year than before the pandemic, said Ron Cooney, Toyota’s CPO sales operations manager.

Toyota’s certified inventory is turning at a rate of 15.5 times a year, for about a 20-day supply, Cooney said. A typical turn rate before the pandemic and chip shortage, when sales were robust, was a 60-day supply.

“At any given moment today, my ground stock inventory is actually down slightly from last year, the end of last year, but my turn rate is up really, really high,” he said.

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