Canadian used vehicle market healthy, crossovers popular

Cash prices and the number of Top Funded Used Vehicles increased in August, pointing to a healthy used vehicle market, according to Dealertrack Canada.

The number of Funded Used Vehicles in the Dealertrack network rose nearly 7 per cent year-over-year compared to August 2016. Average cash price gains were also observed as the Top 10 vehicles managed a 3.5 per cent (average) increase compared the previous year.

Online credit and application data also revealed that compact crossovers are still very popular with Canadian used vehicle buyers.

“Car buyers are always looking for value in the used car market,” said Richard Evans, Vice President and General Manager, Dealertrack Canada. “And based on our network data, the demand for used crossovers continues to drive prices and volumes on dealer lots.”

The Top 10 Funded Used Vehicles in Canada as of August 2017 are:

  1. Ram 1500
  2. Honda Civic
  3. Dodge Grand Caravan
  4. Hyundai Elantra
  5. Ford F150
  6. Ford Escape
  7. Dodge Journey
  8. Toyota Corolla
  9. Chevrolet Cruze
  10. Toyota RAV4

The Toyota RAV4 compact crossover pushed the Mazda3 compact car down to 11th place. The vehicle is considered popular among older consumers with an average age of 44 years old. It’s also well-liked among women.

Comments are closed.

Canadian auto dealer