New research from Cox Automotive suggests Certified Pre-Owned (CPO) vehicles are an increasingly attractive option for consumers navigating today’s vehicle market. As new-vehicle prices remain elevated and ongoing inflation impacts household finances, the appeal of new vehicles has declined while CPO interest has held steady.
The newly released 2026 Cox Automotive Certified Pre-Owned Vehicle Study surveyed 825 consumers planning to purchase a vehicle within the next six months and found that nearly half of in-market shoppers are a high-potential opportunity for CPO sales. Despite that opportunity, the study also uncovered a surprising challenge: Many shoppers interested in CPO vehicles still do not fully understand what CPO means or how it differs from a traditional used vehicle.
“The market does not lack interest in CPO vehicles,” noted Vanessa Ton, senior manager of Research and Market Intelligence for Cox Automotive. “The larger challenge is helping shoppers understand and justify the value proposition. For this, dealers and automakers alike should have a strong, consistent message about the benefits of CPO and raise the profile of CPO inventory. With today’s affordability-conscious consumer, we believe dealers would benefit from focusing on CPO opportunities.”
CPO Appeal Is Nearly Equal to New Vehicles
Among vehicle shoppers, 76% find new vehicles appealing, down from 85% in 2023. Meanwhile, CPO appeal has remained essentially unchanged at 74%. With the average new-vehicle suggested retail price hovering above $50,000, many shoppers are likely seeking alternatives that allow them to stay within their budgets without sacrificing vehicle quality, features, or brand preference.
In fact, the study found that shoppers are often attracted to CPO vehicles as they provide access to vehicles that might otherwise be out of reach. Among shoppers open to CPO vehicles, the leading motivations include affordability, the ability to purchase a preferred brand, and the opportunity to move into a larger vehicle.
A Large Opportunity Exists for CPO Growth
The study found that 46% of in-market shoppers qualify as high-potential CPO buyers, a group defined by openness to CPO vehicles, favorable attitudes toward CPO and a willingness to pay more for a certified vehicle than a noncertified used vehicle.
The findings suggest that consumer consideration of CPO vehicles is significantly larger than current sales results would indicate. While 57% of all shoppers say they are open to purchasing a CPO vehicle, CPO transactions account for approximately 12% of overall retail used-vehicle sales.
With CPO, Interest Is Far Ahead of Understanding
Perhaps the study’s most surprising finding is that awareness and understanding of CPO vehicles appear to be moving in the wrong direction. Overall familiarity with CPO vehicles declined from 87% in 2023 to 81% in 2026. Even among shoppers already open to purchasing a CPO vehicle, true understanding remains limited. Only 31% of new-vehicle shoppers open to CPO say they know exactly how a CPO vehicle differs from a traditional used vehicle. Among used-vehicle shoppers open to CPO, that figure drops to 27%. (The findings also underscore an additional industry challenge: Industry acronyms such as CPO are often not well understood by shoppers, with roughly two-thirds of respondents unclear on the CPO acronym.)
The findings suggest that educating consumers about the inspection, warranty, and reconditioning benefits associated with certified vehicles may be one of the industry’s biggest opportunities for converting consideration into actual purchases.
Experience Strengthens Confidence
For shoppers who have already purchased a CPO vehicle, the ownership experience appears to reinforce the value proposition. Seventy-two percent of current CPO owners say that after understanding and experiencing the benefits of CPO ownership, they would never return to purchasing a traditional used vehicle. That finding reinforces one of the study’s central conclusions: Once consumers understand what certification offers, confidence in the category grows substantially.
As affordability remains a key consideration for vehicle shoppers, the research suggests CPO vehicles are increasingly an opportunity for shoppers to find the brands, features, and peace of mind they want at a price point they may find more attainable.
Source: www.coxautoinc.com
