July 28, 2003

Lexus certified used vehicles attracting non-Lexus owners

Torrance, California – Lexus U.S.A.’s Lexus Certified Pre-Owned Vehicle program, which ranked first in customer satisfaction in a recent J.D. Power and Associates Used Vehicles Sales and Certification Study, is attracting a large number of buyers from competitive makes, says a Lexus Group Vice-President.

“The CPO 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, along with the results of this J.D. Power and Associates study is solid confirmation of the strength of our program and our brand.”

The J.D. Power study revealed that consumers rate the warranties that come with CPO vehicles as the most valuable feature of the programs, and they are willing to pay more for the added peace of mind. Lexus Certified Pre-Owned vehicles are 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.

The first luxury brand to offer a pre-owned program in 1993, the Lexus CPO program has helped change consumers’ perceptions of purchasing a pre-owned vehicle, says the company.

Lexus is the only luxury manufacturer to offer specific training for Certified Pre-Owned sales consultants. To keep dealerships up to date on program enhancements, a “CPO Hub” was recently launched. This Web site is a one-stop resource for all policies, procedures, and sales and marketing material updates.

All 1997-2003 model-year vehicles with less than 60,000 miles are eligible for the program. For certification, each carefully selected vehicle must pass a 128-point inspection by a specially trained Lexus technician to assure the quality, maintenance and appearance of each vehicle.

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