OPENLANE: Minivans Garner Largest Spike in May Dealer Interest
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REDWOOD CITY, Calif. — Reporting on May's wholesale market trends, OPENLANE revealed that U.S. auction prices continued showing the sustained price increases witnessed during much of this year.
On average, May prices increased 8 percent year-over-year. Car and truck prices dropped a bit during the month, while minivans and SUVs continued their "significant" upward momentum.
"Dealer interest followed similar trends with car and truck interest dipping slightly, a pronounced upswing in minivan interest and a slight increased interest in SUVs," officials highlighted.
On average, car prices dropped a bit in May, ending flat with April. Meanwhile, truck prices displayed a "mild" downward trend during the last three weeks of May, ultimately ending 1 percent lower than April.
"Minivan prices increased in May, ending 4 percentage points above April; SUV prices also showed an upward trend, ending 2 percentage points above April," OPENLANE executives reported.
Dealer interest in cars dropped 2 percent for the month, but did surpass May 2009 levels by double digits, according to the company.
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On the other hand, dealer interest in SUVs increased by 2 percent, ending 10 percent above May 2009 levels.
Furthermore, dealer interest in minivans showed a big spike of 15 percent, exceeding May 2009 levels by a total of 30 percent.
