» Dealertrack Canada’s Top 10 Funded Used Vehicles index sees significant volume gain in June

Dealertrack Canada’s Top 10 Funded Used Vehicles index sees significant volume gain in June

As Canada’s used vehicle market reaches the halfway point of 2018, Cox Automotive Canada’s Dealertrack Top 10 Funded Used Vehicles index saw a significant 11.4% annual volume gain in June 2018.

Dealertrack Canada

As Canada’s used vehicle market reaches the halfway point of 2018, Cox Automotive Canada’s Dealertrack Top 10 Funded Used Vehicles index saw a significant 11.4% annual volume gain in June 2018.

“The annual growth of the top 10 funded used vehicles processed through our Online Credit Application Network in June remains strong,” said Richard Evans, Vice-President and General Manager of Dealertrack Canada.

Dealertrack Canada

Overall, the Average Cash Price of the Top 10 Funded Used Vehicles in June remained sound with a minor 0.5% decrease compared to the previous month.

Year-to-year, Average Cash Prices saw a 1.9% gain.

Based on Dealertrack’s data, Canadian used car buyers continue to want minivans. As it did last month, the third place Dodge Grand Caravan saw the most significant year-to-year Average Cash Price increase to $21,741; up 10.7% compared to June 2017.

Up 0.8% to $14,981, the second place Honda Civic compact car scored the biggest Average Cash Price monthly gain compared to May 2018.

With a decline of 2.7% on a month-to-month and annual basis, the ninth place Nissan Rogue compact SUV saw the biggest Average Cash Price reduction to $19,067.

Dealertrack Canada June 2018

Despite car buyers rushing to trucks and SUVs, according to the analysts at Dealertrack Canada, the Sports Car Retail Segment continues to resonate with used car buyers.

In June, used Sports Cars funded in the Dealertrack Online Credit Application Network recorded an annual Average Funded Price gain of 6.0% ($31,193) and an overall volume increase of 14.4%.

Broken down regionally across Canada, the Ontario Market saw the most substantial volume change with a 22.5% volume increase, with Western Canada right behind at 17.8%.

In Canada, over 5.2 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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