Launched by automotive and technology entrepreneurs, Jeffrey Schwartz and Donny Hall, SureSale is redefining the Certified Pre-Owned (CPO) category with a platform that expands the availability of CPO inventory for the 40 million consumers who purchase a used vehicle each year while meeting the consumer demand for Certified Pre-Owned vehicles.
“SureSale’s unique platform, and recognized quality standard, bridges this certification gap by providing auto dealers with expanded opportunities to certify their inventory to increase profitability and meet the needs of the growing population of used car buyers who want to “be sure” about their used vehicle purchase,” said Hall.
As new car costs skyrocket, consumers have shifted their attention to quality used vehicles. And as a result, buyer interest in Certified Pre-Owned (CPO) vehicles — which come with a guarantee of quality and reliability has increased 25% since 2016 and OEM CPO programs are experiencing their ninth consecutive year of record growth.
But since existing CPO is limited to OEM programs, only a small fraction of the quality used car supply is available as CPO. And this means that auto dealers are unable to effectively meet what comprises an estimated two-thirds of used car buyer demand.
“The used vehicle industry is the largest retail segment of the US economy that, surprisingly, still has major untapped potential to create an independent, gold standard brand and maximize value for both dealers and consumers,” added Upfront Ventures partner Kobie Fuller. “Donny and Jeffrey are veteran entrepreneurs who are bringing unmatched industry expertise and a technology-first approach to disrupt the traditional certified pre-owned category. We are excited to be their partners in this journey, especially as it’s happening in LA.”
Read more here