Resale Market Update

Resale Market Update
 
February 22, 2021
Average wholesale used vehicle prices in Canada have been gaining since the beginning of 2021, and week over week changes have been far better than seasonal norms (2017-2019), according to Canadian Black Book (CBB).
 
IN THE TRENCHES WITH SUMMIT FLEET

Scott Trussler, Summit Fleet's Remarketing Manager, works diligently to achieve the highest returns possible for our clients. From inspecting and making vehicles presentable, to selecting the best resale channel, to personally representing each unit ‘live’ at auction, Scott maximizes resale value and is a keen observer of the market.
 
Market Observations & Insights
  • Prices went back up early this year and Scott expects strong resale prices to continue until June.
  • 1 to 5 year old ¾ ton and 1 ton pickup trucks are extremely strong, as long as they are in good shape and have reasonable km’s on them.  
  • GM ½ tons were expected to drop at the end of January but have stayed strong.  
  • Ford ½ tons have been increasing due to the shortage of new product.
  • Rams are well below GM and Ford, likely due to warranty not being transferrable to the US. However, they are still attracting good prices as the dealers in Canada need product. 
Best Practice Tip
"We have some companies that supervise and inspect their units regularly, making sure they are kept clean and maintained, and holding the drivers responsible for the trucks. Those companies are getting huge return on their units. Others ignore them and they come in very rough, and bring a fraction of the resale.
  • I have seen the exact same units (year, make, model, kms) in both conditions and the return is many thousands of dollars apart."
Week Over Week Wholesale Price Changes Jan 4/20-Feb 13/21
Canadian Black Book

Legend:   Cars   Truck & SUVs   Market (all)    Avg in 2017-2019 (same week)
CBB Analysis & Insights
If you are looking to maximize resale value, contact your Summit Fleet Representative or use the links below.
1-855-402-2525
Email us