OPENLANE: February Wholesale Prices Edge Lower Sequentially
OPENLANE’s U.S. Market Index continued a slight downward slide in February as the reading dipped to 115 — 1 percentage point lower than the previous month and 5 percentage points lower than the all-time high that was reached again in December.
February’s mark still represented a jump from the year-ago figure. OPENLANE said its index reading in February 2010 was 112.
Looking at analysis of wholesale price trends by vehicle segment, OPENLANE determined car prices decreased slightly in February, ending 1 percentage point below the previous month. The other three segments tracked in the report made month-over-month climbs:
—Minivans: up 4 percentage points.
—SUVs: up 1 percentage point.
—Trucks: up 5 percentage points.
When considering dealer interest by body style, OPENLANE discovered the interest level for cars and minivans rose again in February while interest in SUVs and trucks decreased relative to the prior year.
Specifically, the index report showed car interest shot up 10 percentage points, while minivan interest went up even higher — 19 percentage points.
Trending in the opposite direction, OPENLANE indicated dealer interest in SUVs waned by 4 percentage points in February. Dealer interest in trucks sunk even more dramatically as the report revealed the dealer interest level in this segment plummeted 33 percentage points from February 2010.