GM predicts certified used-vehicle sales to jump 5% in US this year

Article by Anita Panait, on August 31, 2012

Larry Pryg, national manager of GM certified pre-owned vehicle operations, expects the sales of certified used-vehicles in the United States to increase by around five percent in 2012. He, however, disclosed that GM’s sales of certified used-vehicles will be flat this year, as it is limited due to a shortage of vehicles.

Pryg expects GM to retain its No. 2 spot in the certified used-vehicle segment, which Toyota currently dominates. According to Pryg, GM’s certified used-vehicle sales will peak at around 285,000 in 2012, while Toyota’s figures will hover at between 310,000 and 320,000 unit. Pryg, however, did not issue a prediction for industry-wide sales.

Pryg said that GM’s certified used-vehicle sales are mainly focused around Chevrolet, especially pickups and mid-sized cars. Pryg disclosed that GM’s hottest certified used-vehicle is Chevy Silverado full-sized pickup, followed by the Impala and Malibu. For a vehicle to qualify for a certification, it must be under five years old.

GM and other carmakers, however, are running short of three- to five-year old vehicles, because of the collapse of car sales on 2008 and 2009. Pryg remarked that much of industry’s growth could be attributed to new or newly active entrants in the certified-used segment, which could refer to Hyundai and its Kia affiliate. Hyundai and Kia have been upgrading their certified used-vehicle program in line with their sales growth over the past years.

Only around 70 percent of GM’s dealers are enrolled in the carmaker’s certified used-vehicle program, in contrast with the 100 percent enrolment at some import luxury brands, where certified used-vehicles often serve as the entry-level price point. Pryg, however, said that GM is not requiring their dealers to enrol in the program, noting that the 70 percent of GM’s dealers account for 80 to 90 percent of the carmaker’s new-vehicle volume.

Topics: gm, sales, united states

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