Canadian Used Vehicles Worth More Than Ever
Canadian Black Book announced its 2021 Best Retained Value Aware winners and featured the highest industry averages of used vehicles on record. Black Book showed that 4-year old models held an astonishing 61.5% of original MSRP. In 2020, it was 56.6% and 52% in 2019.
“In terms of retained values, the past year has been a wild ride, to say the least. We have been through steep record-setting declines last spring, followed by rapid increases culminating in record level retained values in Canada across the board,” says Yolanda Biswah, Vice President, Sales at Canadian Black Book. “Much of the gains have been propped up by economic phenomena directly related to the global pandemic,” she adds.