IntelliChoice, the leading provider of automotive cost and value analysis and also part of TEN: The Enthusiast Network, announced today the winners of the 16th annual IntelliChoice Certified Pre-Owned (CPO) Car Awards. Volvo took the Best Premium Program Award for the eighth straight year, while Hyundai took the Best Popular Program Award for the fourth straight year.
The winners were announced at the 2014 Certified Pre-Owned Forum and National Remarketing Conference in Las Vegas, Nevada.
When evaluating vehicles for the CPO Car Awards, IntelliChoice evaluates a total of 26 manufacturer-backed programs, and segments the cars into two different categories—Premium and Popular—which reflect the overall market position and price range of their vehicles. There were 12 Premium Brands and 14 Popular Brands included in this year’s study. Key components analyzed include extended manufacturer warranties, used car ownership costs, inspection process comprehensiveness, dealer compliance, and special financing incentives. Overall, nine areas are assessed.
IntelliChoice continues to help consumers by providing broad visibility into each manufacturer’s program details, cutting through the marketing hype in order to help simplify what would otherwise be a formidable task. Through this analysis and the useful information and tools on its website, Intellichoice is able to arm shoppers with the information they require to find their next—and best—pre-owned vehicle. IntelliChoice now tracks and publishes CPO incentives on nearly all programs and has incorporated the ongoing availability of these offers into its analysis for this year. Information on current CPO incentives can be found at intellichoice.com.
Variations in programs year over year have historically caused shifts in how a manufacturer ranks compared to other brands in the segment. “In the earlier years of certification, as manufacturers established and refined their programs, many were challenged to provide offerings that were sustainable business-wise, yet bolstered consumer confidence sufficiently to compel buyers to purchase a Certified Pre-Owned vehicle,” says Ownership Cost Database Supervisor Eric Anderson. “However, in more recent years, the best of these programs have continued to deliver substantial peace of mind, particularly through their extended CPO Warranties. The Volvo program features a no-deductible, 7-year/100,000-mile comprehensive plan, which is the primary reason Volvo retains the top spot in our analysis among Premium programs.”
While the Hyundai and Kia programs are very similar, Hyundai edges out the top spot through a stronger used car brand value and CPO sales market penetration—both important factors in our analysis. Jaguar places a very close second to Volvo, and offers excellent special financing incentives for customers who choose their certified cars. Additional notable Premium programs include Lincoln, BMW, and Land Rover, while popular brands MINI, Ford, and Toyota are amongst the Top Five in our annual study.
The 2015 CPO Award Winners:
|Best Premium Program Award||Volvo|
|Best Premium Warranty Award||Volvo|
|Best Premium Brand Used Ownership Costs Award||Lincoln|
|Best Popular Program Award||Hyundai|
|Best Popular Warranty Award||MINI|
|Best Popular Brand Used Ownership Costs Award||Honda|