Used Vehicle Prices Increased in December
The average asking price of almost all of the 10 most popular financed used vehicles sold through Dealertrack Canada’s network saw an annual increase of 5.23 per cent in December 2017, according to the company’s data.
“2017 was a solid year overall for the used car business and our Dealertrack Canada network, and we expect this trend to continue in 2018,” said Richard Evans, Vice-President and General Manager of Dealertrack Canada.
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The Chevrolet Cruze experienced the biggest gain with a year-over-year increase of 13.5%, followed by the Nissan Rogue with 9.6% and the Dodge Grand Caravan with 9.2%.
The Ford Escape was the only vehicle to show a decline, having dropped 4.6% in December 2017 compared to the same period in 2016.
Dealertrack’s data also reveals that the most popular trade-in model year was 2014; vehicles traded in had an average of 40.7 months of use; the average paid price was $19,539, and the average annual income for used buyers was $55,318.
Original link: https://canadianautodealer.ca/2018/01/used-vehicle-prices-increase-december/
