Milestone Marks Kia’s Continued Climb in Residual Value
Kia America has reached yet another significant milestone in its journey to become a leading automotive brand in the United States. The company has proudly announced the sale of its 1 millionth Certified Pre-Owned (CPO) vehicle, a remarkable achievement that speaks volumes about the brand’s commitment to quality and customer satisfaction.
This milestone is a testament to Kia’s continued climb in residual value, a key measure of a vehicle’s worth over time. It is a reflection of the brand’s dedication to producing reliable, high-quality vehicles that retain their value even after years of use. This is a remarkable feat, considering that Kia entered the U.S. market just over three decades ago.
The 1 millionth CPO vehicle sold by Kia is a 2017 Optima sedan, a popular model among American consumers. This particular vehicle was sold by Kia of Irvine, a dealership in Southern California. The proud owner of this milestone vehicle is a local resident, who was thrilled to be a part of this momentous occasion.
Kia’s CPO program has been gaining popularity among American car buyers, and for a good reason. Each CPO vehicle goes through a rigorous 164-point inspection process and comes with a 10-year/100,000-mile powertrain warranty, along with additional benefits such as roadside assistance and rental car coverage. This gives customers the peace of mind that they are purchasing a high-quality vehicle that has been thoroughly inspected and is backed by a strong warranty.
The success of Kia’s CPO program can also be attributed to the brand’s focus on customer satisfaction. Kia has consistently ranked among the top automotive brands in J.D. Power’s Initial Quality Study, which measures the number of problems experienced by vehicle owners in the first 90 days of ownership. This recognition is a testament to Kia’s commitment to producing vehicles that not only retain their value but also provide a trouble-free ownership experience for customers.
Kia’s CPO program has also been a game-changer in the used car market. With the rising cost of new vehicles, more and more Americans are turning to the used car market for their transportation needs. Kia’s CPO program provides an attractive option for those looking for a reliable, high-quality vehicle at a more affordable price.
The success of Kia’s CPO program is also a reflection of the brand’s overall growth in the U.S. market. Kia has been on a steady climb, with its market share increasing from 1.4% in 2009 to 4.8% in 2019. This growth can be attributed to the brand’s focus on producing vehicles that cater to the needs and preferences of American consumers, along with its strong commitment to quality and value.
Kia’s CPO program has also been a significant contributor to the brand’s overall success. In 2019, CPO sales accounted for 11% of Kia’s total sales in the U.S., a significant increase from just 2% in 2009. This shows the growing demand for Kia’s CPO vehicles and the trust that customers have in the brand.
Kia’s 1 millionth CPO vehicle sale is a significant milestone that marks the brand’s continued climb in residual value and its growing popularity among American consumers. It is a testament to Kia’s commitment to producing high-quality, reliable vehicles that provide excellent value for customers. As Kia continues to grow and evolve, we can expect to see more milestones like this in the future, cementing the brand’s position as a leader in the U.S. automotive market.