While dealers struggle with new vehicle inventory, used vehicle sales have become an emphasis for many dealers. Despite this, certified preowned sales have struggled since the beginning of the COVID-19 pandemic.CPO sales have been on the decline ever since stores were forced to change their daily operations, and they remain down seven percent overall. Zo Rahim, manager of economics and industry insight for Cox Automotive, joined us on CBT News to help make sense of the drop in CPO sales.
In this segment, Rahim and anchor Jim Fitzpatrick talk about the following:
- What Rahim attribute the decline of CPO sales by 7% versus the same time in 2019
- Consumer demand in today’s challenging market conditions
- Which used vehicle segments are performing best in the current market
- The impact these vehicles have had on the overall success of the used car department
- Rahim’s sales forecast going into 2021
Prior to his role at Cox Automotive, Zo Rahim worked in a coveted position at German luxury automaker Porsche. Since a young age, Rahim has been interested in economics and finance but instead of running a Wall Street hedge fund, he became a senior analyst at Cox Automotive, performing market research, analysis, and tracking economic data.
Did you enjoy this interview with Cox Automotive’s Zo Rahim? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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