Demand for used vehicles in Dealertrack Canada network continued to grow in October - Cox Automotive Canada

Demand for used vehicles in Dealertrack Canada network continued to grow in October

Based on both monthly and yearly comparisons, the volume of the Top 10 Funded Used Vehicles* sold through Cox Automotive Canada’s digital solutions brand Dealertrack Canada continues to grow.

Dealertrack Canada
2013 Ford F-150 Lariat: This series now features standard SYNC(R) with MyFord Touch(R) voice-activated driver controls in addition to a powerful yet fuel efficient 5.0-liter V8. (6/2/2012)

Based on both monthly and yearly comparisons, the volume of the Top 10 Funded Used Vehicles* sold through Cox Automotive Canada’s digital solutions brand Dealertrack Canada continues to grow.

The number of Top 10 Funded Used Vehicles in the Dealertrack online credit application network in October saw a 5.8% monthly gain compared to September, and a substantial 24.8% rise compared to October 2016. The Average Cash Price of vehicles on the top 10 list also saw a healthy 4.6% year-to-year price increase.

“With recent wins like the new Captive Lender program with Nissan Canada Finance/Infiniti Financial Services, more and more dealers and OEMs across the country are starting to leverage a variety of benefits and efficiencies provided by the Dealertrack network,” said Richard Evans, Vice-President and General Manager of Dealertrack Canada.

As the leading provider of web-based software solutions and services for all major segments of the automotive industry, Dealertrack is Canada’s largest and most accurate source of automotive retail sales data. Customized Dealertrack Dealer Reports can consolidate a vast amount of non-personal demographic information, market trends and preferences from the Dealertrack online credit application network.

For example, of the Top Funded Used Vehicles in October, only 5% of Hyundai Elantra buyers own their home free and clear; half the 10% average for all Top Funded Used Vehicles in the Dealertrack network. When it came to used buyers that own their homes with a mortgage, the top vehicle was the Ford F-150 at 40% of buyers, while 50% of Dodge Journey buyers rent their property. And when it comes to buyers still living at home with their parents, 28% of buyers choose a Honda Civic, but only 5% pick a Dodge Grand Caravan.

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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