J.D. Power generates informative monthly reports regarding the Canadian automotive market and activities. This one caught our attention, and we think it will interest you.
The Used Vehicle Report confirms what is an ongoing reality in the automotive market.
Across Canada only 31.6% of vehicles are traded, with an average age of 6.3 years, average kilometers of 118,155 and 15.96% of these vehicles are "upside down" with negative equity.
This begs the question...from where do recent model, low kilometer vehicles with balance of factory warranty come from?
In most cases these vehicles are lease returns, and are sold at auctions by the captive financial companies owned by the manufacturers.