Kelley Blue Book Answers Growing Demand for Certified Vehicle Pricing with Launch of New CPO Price Advisor

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Feb 20, 2018, 03:28 ET

IRVINE, Calif., Feb. 20, 2018 /PRNewswire/ -- As the leading source for trusted vehicle valuation and information, Kelley Blue Book today announced it will add to its already robust Price Advisor product suite with the launch of an all-new CPO Price Advisor, which will further drive transparency in the certified pre-owned (CPO) selling and buying marketplace.

Now available on KBB.com and on Participating Dealer websites, Kelley Blue Book® Price Advisor for CPO is based on recent certified vehicle sales transactions, updated weekly, and is adjusted for local market conditions and seasonal trends. The all-new Price Advisor will display a CPO Fair Market Range and CPO Typical Listing Price, helping build credibility between dealers and consumers through its realistic certified vehicle pricing expectations.

"With the CPO market continuing to grow year-over-year due to increased consumer and dealer demand for CPO inventory, the new CPO Price Advisor will play a critical role in assuring consumers they are making the best decision possible during the vehicle shopping process," said Mike Sadowski, general manager for Kelley Blue Book. "In an effort to provide consumers with the information they need to make a confident buying decision, Kelley Blue Book has enhanced the consumer's ability to discover what represents a fair price in their location. Ultimately, this will create a more transparent and confident car-shopping experience between consumers and dealers."

The new CPO Price Advisor is market-reflective and backed by actual CPO transaction data that displays CPO Fair Market Range and CPO Typical Listing Price, as well as the three different pricing zones: white, green and red, which consider specific year, make, model and trim combinations. The white zone represents pricing that falls below the CPO Fair Market Range, typically under special circumstances, such as unpopular color or excess inventory. The green zone is the Kelley Blue Book® Fair Market Range (CPO), which reflects current market conditions for a selected vehicle with the buyer's chosen options in their location. The red zone falls above the CPO Fair Market Range and is indicative of an exceptionally low supply with high demand.

"Updated for the needs of a new-age, CPO car shopper, the Kelley Blue Book CPO Price Advisor is utilizing granular data to equip consumers with the most up-to-date information possible when buying a certified vehicle," said Sadowski. "CPO sales continue to climb with 2017 marking the seventh consecutive year for sales growth. Cox Automotive estimates sales will continue their record streak in 2018 with 2.7 million CPO vehicles sold for the year¹, making the need for the latest in CPO vehicle pricing a need more than ever before."

In addition to the CPO Price Advisor, Kelley Blue Book also offers Used-Car and New-Car Price Advisor products on its top-rated website, www.kbb.com.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at @kelleybluebook, like our page on Facebook at @kbb, follow us on Instagram at @kbb_com, and get updates on Google+ at www.plus.google.com/+kbb.

¹Autodata and Cox Automotive Estimates

About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue Book^SM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.

About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader^®, Dealer.com^®, Dealertrack^®, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, vAuto^®, Xtime^® and a host of other brands. The global company has 34,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.