» Used Vehicle Pricing in Dealertrack Canada Network Flat to Start 2019

Used Vehicle Pricing in Dealertrack Canada Network Flat to Start 2019

Mississauga, Ont.—February 25, 2018—Based on data collected from Cox Automotive Canada’s Dealertrack online credit application network, pricing for the majority of its Top 10 Funded Used Vehicles* recorded virtually little or no price changes in January 2019 compared to the end of 2018.

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Mississauga, Ont.—February 25, 2018—Based on data collected from Cox Automotive Canada’s Dealertrack online credit application network, pricing for the majority of its Top 10 Funded Used Vehicles* recorded virtually little or no price changes in January 2019 compared to the end of 2018.

Similar to December 2018, four of the Top 10 vehicles recorded month-over-month (MOM) Average Cash Price declines, while three vehicles saw year-over-year (YOY) price declines. This trend resulted in a virtually flat average pricing for all ten vehicles, increasing from $20,088 in December 2018 to only $20,103 in January 2019.

Based on an annual basis, the Average Cash Price for all ten vehicles recorded a slight 1.8% increase.

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Compared to the previous month, in January, the Dealertrack Canada Top 10 Funded Used Vehicle that saw the largest Average Cash Price increase was the tenth place Dodge Journey. The compact SUV’s price rose 2.9% to $18,889. The top 10 vehicle with the most significant MOM price drop was the fourth place Hyundai Elantra compact car with an Average Cash Price of $14,557, down 1.9% to start 2019.

Taking a longer view, the ninth place Toyota Corolla compact car’s Average Cash Price jumped to $14,833 in January, a healthy 6.7% gain compared to 12 months earlier. The Journey recorded the most significant YOY price drop, down to 2.8%.

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

For example, dealers need to stock the right vehicles at the right price for the right customers. Based on social, geographic, financial and economic demographic data—from the Average Cash Price to the age of the average buyer to their marital status — garnered via the Dealertrack online credit application network, by tapping into Dealertrack’s deep data, dealers can create an inventory that’s right for their market and their business.

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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.

*Based on the total number of funded through the Dealertrack Canada online credit application network.

Source: Dealertrack Canada a division of Cox Automotive Canada.

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