#offlease

New Post has been published on http://autoinsurance.media/kia-brags-about-its-used-vehicles-because-off-lease-sales-are-hot-stuff/amp/

Kia Brags About its Used Vehicles, Because Off-Lease Sales are Hot Stuff

The record-setting surge of new vehicle sales as America climbed out of the recession sparked a whole new kind of automotive competition.

A surge in off-lease vehicles returning to dealer lots means the certified pre-owned (CPO) market — once an unsexy afterthought — is now a battleground, and Kia Motors wants everyone to know how well it’s doing.

CPO sales hit an all-time high in 2014, making up 20.8 percent of used car sales at franchised dealers, according to Edmunds. The market only grew hotter after that, with Time telling its readers that 2016 is a great year to buy a used car.

With the off-lease tsunami now swamping lots, it’s not surprising to see Kia issue a press release about its CPO performance. The Korean automaker hit an all-time CPO sales high in June, and nearly matched it in July. In the past year, the automaker’s CPO sales rose 20.6 percent — a figure worthy of bragging about through official channels.

“Autodata’s July CPO retail sales report confirms that when it comes to pre-owned vehicles, Kia is one of the fastest-growing brands in the industry,” the automaker stated, adding that it now owns three percent of the industry’s CPO market share.

Many analysts predict annual CPO sales will hit the four million mark by the end of the decade, meaning press releases flying fast and furious as we move forward into this era of pre-owned bliss. Don’t be shocked if other automakers copy Toyota’s pre-owned leasing plan.

Soon, we’ll all be able to own the three-year-old car of our dreams.