As we approach the midpoint of the year, wholesale vehicle prices continue to reach new highs.
We are experiencing a “perfect storm” in high used-car demand and a “perfect drought” of used-car supply — the latter amplified by the microchip shortage. We expect this trend to continue for some time as the manufacturers deal with the semi-conductor shortages and continued production delays.
Jim Pattison Lease would like to remind our clients that they need to continually follow best practices when remarketing vehicles. Using auctions as a vehicle sale source can significantly maximize the resale value of your fleet. Auctions have expanded their services and product offerings to provide enhanced flexibility, expanded customer reach, and exposure. A good example of this is the use of simulcast sales that reach thousands of buyers internationally. All Simulcast sales are represented remotely by JPL Remarketing managers where we have direct communication with the auctioneer. Using the auction increases your vehicle’s exposure due to the high number of buyers.
As an internationally recognized business, the auctions build buyer confidence by providing national visibility and customer service. Buyers are comfortable knowing that any issues or concerns that may arise with a purchased vehicle can be easily remedied by the auction. Currently, auctions in Canada are supporting US exports in excess of 28% of their sales. Auctions handle the transportation, mechanical inspections, and financing for US Buyers.