New Midsize resale value leader...GMC?

[Fightnfire]

According to JD Power in Canada the GMC Canyon is the new leader in Midsize resale value. Interesting. Although it did win in 2023 too.

https://gmauthority.com/blog/2025/02/gmc-canyon-wins-j-d-power-2025-canada-alg-residual-value-award/#:~:text=By%20Rhian%20Hunt,Savana%20cargo%20and%20passenger%20van.

 

[testerdahl]

According to JD Power in Canada the GMC Canyon is the new leader in Midsize resale value. Interesting. Although it did win in 2023 too.

https://gmauthority.com/blog/2025/02/gmc-canyon-wins-j-d-power-2025-canada-alg-residual-value-award/#:~:text=By%20Rhian%20Hunt,Savana%20cargo%20and%20passenger%20van.

Canada is such a weird market to me. Really expensive trucks, sometimes different options on equipment and low overall truck sales vs America.

 

[Fightnfire]

Canada is such a weird market to me. Really expensive trucks, sometimes different options on equipment and low overall truck sales vs America.

I think they sell more trucks as a percentage of new vehicles sold than we do in the US though? I find it hard to believe anybody in Canada can afford a new truck, their prices are crazy.

 

[testerdahl]

I think they sell more trucks as a percentage of new vehicles sold than we do in the US though? I find it hard to believe anybody in Canada can afford a new truck, their prices are crazy.

Good question. You know I suck at math so I’ll pass.

Canadian prices are crazy.

 

[TheDo114]

I think they sell more trucks as a percentage of new vehicles sold than we do in the US though? I find it hard to believe anybody in Canada can afford a new truck, their prices are crazy.

As someone living in Canada, making way more than the average salary here and I still have no idea how people here afford trucks. I’m in my early 30s so I missed the window for inexpensive housing but still, any basic half-ton is $65k plus.

 

[TheDo114]

Good question. You know I suck at math so I’ll pass.

Canadian prices are crazy.

Canada sits at 24% of new sales are trucks vs 20% for the US. Bigger, emptier country is probably responsible for it hahaha.

 

[Dusdaddy]

As someone living in Canada, making way more than the average salary here and I still have no idea how people here afford trucks. I’m in my early 30s so I missed the window for inexpensive housing but still, any basic half-ton is $65k plus.

Yep, those numbers are crazy. I see the same difference when they compare ATV prices.

 

[TheDo114]

Yep, those numbers are crazy. I see the same difference when they compare ATV prices.

yeah a "basic" atv is like $10k and $15k for a mid spec one... SXS can go deep in the $70k.

 

[TheDo114]

I bought my first house in my late 20s when inflation was running 15-17%. I found a house with an assumable mortgage but it also had a $10K balloon payment after five years. At the time I was making $10/hour. I had to save a lot to make that balloon payment. The 1500 square foot house was on 2 acres and sold to me for $81K. My first new truck was an ‘86 F250 and cost $14K. I don’t know how the younger folks can afford a new vehicle much less a house.

Give you an idea, the house I currently live in was worth $210K in 2015. We bought it for $430K in 2019 and it’s now worth around $900K. At this point my wife and I are expecting for our kids to live with us if the bubble doesn’t pop.

 

[TheDo114]

So in ten years the value has gone up by a factor of 4.25. Wow that’s scary. Sounds like California prices. So is it raw materials and labor rates?

Foreigners buying up our real-estate and driving the price up.