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A certified pre-owned car or CPO [citation needed] is a type of used car.It is also used in references to guns and phones. The term "certified pre-owned was conceived by corporations [citation needed] in order to find a more favorable alternative to marketing products as 'used,' which causes purchasers to impose their cognitive biases associated with 'used' items onto prospective purchases.
A car dealer orders vehicles from the manufacturer for inventory and pays interest (called flooring or floor planning). Dealer holdbacks are a system of payments made by manufacturers to their dealers. [5] The holdback payments assist the dealer's ability to stock their inventory of vehicles and improve the profitability of dealers.
The company reports market value prices for new and used automobiles of all types, as well as motorcycles, snowmobiles and personal watercraft. [16] For both new and used automobiles, Kelley Blue Book provides a fair market range and fair purchase price, based on actual transactions of what others are paying for a vehicle and adjusted regularly as market conditions change.
Ram Trucks was established as a division of Chrysler in 2010, as a spin-off from Dodge, and using the name of the Dodge Ram line of pickups that is now sold under the Ram banner. [6] According to Chrysler, the Ram Trucks brand will concentrate on "real truck customers," rather than casual truck buyers who buy trucks for image or style. [7]
In 2005, the Chrysler Group employed 83,130 people and sold 2.83 million vehicles globally, generating $57.4 billion in revenue. Chrysler entered into bankruptcy in 2008, and was then owned by the Italian car maker FIAT and the United Auto Workers Union.
Chrysler: Founded in 1925 from the remnants of the Maxwell Motor Company. Acquired by Daimler-Benz in 1998, forming DaimlerChrysler. Divested in 2007 and acquired by Fiat S.p.A. in 2014, forming Fiat Chrysler Automobiles (FCA). FCA and PSA Group merged in 2021 to form Stellantis. Dodge: Founded in 1914 and acquired by Chrysler in 1928. Jeep