Dealertrack Reports Trucks and SUVs Lead Top Funded Used Vehicles in June

Dealertrack Reports Trucks and SUVs Lead Top Funded Used Vehicles in June

Mississauga, Ont.—July 10, 2017—Reflecting the same type of demand in the new vehicle market, light trucks and SUVs scored half of the 10 spots on the Top Funded Used Vehicles* list in Canada in June, based on data from Cox Automotive Canada’s Dealertrack online credit application network.

Dealertrack

Mississauga, Ont.—July 10, 2017—Reflecting the same type of demand in the new vehicle market, light trucks and SUVs scored half of the 10 spots on the Top Funded Used Vehicles* list in Canada in June, based on data from Cox Automotive Canada’s Dealertrack online credit application network.

Dealertrack Top Funded Used Vehicles

Supporting the trend that Canadians are migrating from cars to trucks and SUVs—whether new or used—four out of the first five Top Funded Used Vehicles last month were utility vehicles. The Ram 1500 full-size pickup truck was first, followed by the 3rd-place Dodge Grand Caravan minivan, 4th-place Ford F-150 full-size truck, and 5th-place Ford Escape compact SUV. The 2nd-place Honda Civic compact sedan was the lone passenger car to crack the top five.

Based on Dealertrack network data, overall month-to-month Top Funded Used Vehicle average cash prices in June were relatively stable. The Civic saw the largest increase, up 2.6% to $14,183. The 6th-place Hyundai Elantra and 8th-place Toyota Corolla compact cars suffered price drops—but only down by 0.8%, to $14,059 and $13,561, respectively.

The vast majority of the Top Funded Vehicles saw annual average cash price increases in June. At $12,618, the 10th-place Mazda3 compact car recorded the largest gain, up 8.8%. The Escape saw the biggest year-to-year drop, down 6.4% to $18,562.

From an overall volume standpoint, the Ram 1500 continued as the Dealertrack Canada network Top Funded Used Vehicle in Canada. Compared to June 2016, the popular used truck saw a significant 18.7% volume jump. The Ram’s June 2017 Average Cash Price of $32,223 saw only a minor 0.1% increase compared to both the previous month and versus June 2016.

In Canada, over 4.5 Million credit applications are submitted annually through Dealertrack Network for vehicle financing. Our reports are designed to leverage this information and provide insights to help Canadian automotive dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers identify opportunities to improve business results.

Want to see the full top funded used vehicle report or learn about other reports available from Dealertrack Canada? Call us at 866 830- 3863 or email us at dealersupport@dealertrack.com.

Source: Dealertrack Canada

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