The behavior of metallic materials at high strain rates shows different characteristics from those in quasi-static deformation. Therefore, the strain rate should be considered when simulating crash events. The objective of this paper is to evaluate the dynamic tensile characteristics of SPRC440 as a function of the volume fraction of phases. As-received SPRC440 is composed of ferrite and pearlite phases. However, ferrite and martensite phases were observed after heat treatment at $730^{circ}C$ and $780^{circ}C$ for 5 minutes, as expected by calculations based on the curves from dilatometry tests. High cross-head speed tensile tests were performed to acquire strain-stress curves at various strain rates ranging from 0.001 to $300;s^{-1}$, which are typical in real vehicle crashes. It was observed that the flow stress increases with the strain rate and this trend was more pronounced in the as-received specimens consisting of ferrite and pearlite phases. It is speculated that the dislocation density in each phase has an influence on the strain rate sensitivity.