Lexus Reports Best-Ever Certified Pre-Owned Vehicle Sales

TORRANCE, Calif., Feb. 13 -- Lexus today reported a best-ever Certified Pre-Owned (CPO) vehicle sales month with record-breaking January sales. The luxury automaker recorded CPO sales of 3,865 units, an increase of 77.9 percent over January 2001.

The January jump follows a best-ever CPO sales year. In 2001, Lexus Certified Pre-Owned vehicles sold 33,741 units, up 23.4 percent over calendar-year 2000 sales.

``The Certified Pre-Owned program attracts all-new buyers to Lexus,'' said Denny Clements, Lexus group vice president and general manager. ``Last year, more than 80 percent of our Certified Pre-Owned buyers traded in a competitive make. That's a testament to the strength of our program and our brand.''

Since 1993, Lexus has been an innovator in pre-owned vehicle marketing and offers the most comprehensive pre-owned package in the industry. The first luxury brand to offer a pre-owned program, the Lexus CPO program has helped to change consumers' perceptions of a purchasing a pre-owned vehicle while providing them with all of the same quality, reliability and luxury of a new Lexus.

All 1997-2002 model-year vehicles with less than 60,000 miles are eligible for the program. Before they may become ``certified,'' each of these carefully selected vehicles must pass a 128-point inspection by a specially trained Lexus technician to assure the quality, maintenance and appearance of each vehicle.

Every Certified Pre-Owned vehicle is backed by the ``Lexus Certified Warranty'' which provides limited bumper-to-bumper coverage for three years from the date of purchase, or 100,000 total vehicle miles.

The warranty's Customer Care Package includes a complimentary oil and filter change, free vehicle loan with qualified repairs, and Lexus 24-Hour Roadside Assistance. The roadside assistance program provides minor roadside repairs, towing to the nearest Lexus dealership if necessary, a vehicle loan if needed, and money for lodging and meals if the owner is away from home.

Financing also is available for Lexus Certified Pre-Owned vehicles. CPO vehicles are eligible for Lexus Financial Services' new car rates and terms, just like a new Lexus.

To inform potential customers about Lexus Certified Pre-Owned vehicles, Lexus has a comprehensive marketing and sales training program. Television, radio and print ads are developed by Team One, the same advertising agency responsible for new vehicle advertising, to create a consistent feel and theme. Partnerships with online databases of pre-owned vehicles, such as AutoTrader.com, also have been established.

Through the lexus.com website, customers can preview all available Certified Pre-Owned vehicles and the dealerships at which the cars are located. Customers can even set up appointments to see the vehicles in person.

``Our Certified Pre-Owned vehicles are more like an additional model for Lexus because we start with high-quality cars and back them with this high- quality program,'' commented Marv Ingram, Lexus national certified pre-owned and fleet manager. ``According to the customer surveys we receive, more than 94 percent of our Certified Pre-Owned customers are satisfied with their purchase and ownership experience. That's an excellent way to welcome customers to the Lexus family.''