OPENLANE: Wholesale Prices Continue Strong

By Nick Zulovich, Staff Writer
March 16, 2009

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MENLO PARK, Calif. — All four types of vehicles listed in the March OPENLANE Market Index showed price improvements, continuing the strong wholesale start to 2009. The company reported Monday that now cars have joined minivans, trucks and SUVs on a sustained, positive climb.

In fact, the index value for cars now has risen for two consecutive months after peaking in September of last year, according to OPENLANE. However, cars have yet to surpass their value level of February 2008. The segment still stands 8 percent below that figure.

SUVs have been on an upward track since December of 2008. Yet, the segment pricing remains 4 percent below the mark the index indicated at February of last year.

Both trucks and minivans have risen above their price points registered a year ago.

"The market has recovered somewhat from the depths of the third and fourth quarters of 2008," noted Nagi Palle, vice president of analytics for OPENLANE.

In terms of vehicle interest, Palle reported a rise in dealer demand for both cars and minivans.

The dealer interest in minivans has been on the upswing since August of last year. The mark is nearly at the level seen in February 2008, the company found.

While dealer interest in cars is slightly below the February 2008 level, the demand has been relatively stable for the past seven months, Palle highlighted.

He pointed out that the truck segment has seen a material decline, indicating some softness. The interest in trucks dropped 13 percent, putting the level below the February 2008 point.

While SUV interest also dipped, it wasn't at the same rate as trucks. SUV interest slipped 6 percent. Palle maintained that SUVs' interest "remains healthy relative to third and fourth quarters of 2008 and at a much higher level than February 2008 levels."

Editor's Note: For OPENLANE's analysis of the Canadian side of the online wholesale market, stay tuned for the Auto Remarketing Canada e-newsletter. If you would like to add Auto Remarketing Canada to your subscription, click here.

Auction/Wholesale