IMV

Instant Market Value. This is comparison to other similar cars for sale in your area.

For more details look here: https://cargurus.helpscoutdocs.com/category/4-cargurus-faq

Does IMV take into account CPO status? A dealer I spoke with claims it does not, but CG says "millions of data points", and certified status, or lack of it, when buying used from a dealer is certainly an important data point.

I am sure CPO is accounted for in the valuations. Dealers will say ANYTHING to con you into paying more than market price for a car.