CPO car sales in 2022 likely to be softer than initial forecast

While maintaining its forecast for overall used-car sales, Cox Automotive has trimmed its projections for certified pre-owned vehicle sales, as competition for acquiring CPO-worthy inventory intensifies.

Analysts with the company said in a presentation this week that they are now projecting 2.8 million CPO sales for 2022, down from the 3.0 million unit forecast they made earlier this year.

Cox Automotive chief economist Jonathan Smoke says the revised forecast is due to …