The Average Cash Price of the top Funded Used Vehicles in the Dealertrack Canada online credit application network remained consistent to start 2018
As 2018 kicked-off, the Average Cash Price of the Top 10 Funded Used Vehicles* sold through Dealertrack Canada’s online credit application network resulted in an annual increase of 4.59% last month, slightly down from the 5.23% annual gain in December 2017.
With an Average Cash Price of $13,718, the 5th-place Chevrolet Cruze compact car reported the largest annual gain in January, up 14.60% compared to 12 months earlier. For the second month in a row, the 7th-place Ford Escape compact SUV saw the biggest year-to-year drop—down 2.9% to $18,112, the only vehicle on the list to record a decrease.
“Consistent and steady demand for our Dealertrack digital solutions continued to grow in January, similar to how 2017 ended,” said Richard Evans, Vice-President and General Manager of Dealertrack Canada.
Also consistent in January was the strength of pickup trucks with used buyers. With an Average Cash Price of $32,549, the Ram 1500 continued at the top of the Top Funded Used Vehicle list last month, with 2017 the most popular model year. While the 4th-place Ford F-150 saw a 5.7% year-to-year Average Cash Price to $31,166.
As Canada’s largest and most accurate source of automotive retail sales data, Dealertrack clients can request segment-specific data, such as the popular Pickup market. For example, based on a year-to-year basis, the Pickup segment in the Dealertrack network has seen a 10.0% gain in overall volume since January 2017. The Average Funded Used Pickup Price was $34,646, a 3.8% annual gain. Dealertrack analysts can dig even deeper by showing how used Pickups are performing in different regional markets across Canada, with Quebec leading with an 18.5% annual Volume gain in Funded Used Pickups.
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 [email protected].
Source: Dealertrack Canada