REDWOOD CITY, Calif. -

Along with sharing some company performance metrics from the first quarter, OPENLANE pinpointed how much its March Market Index dropped.

OPENLANE determined the U.S. Market Index settled at 106, down 3 percentage points from the previous month and 2 percentage points from the same month in 2010.

Prompting that overall decline were three of the four vehicle segments suffering month-over-month price dips in March. The three that went down included:

—Cars: Prices decreased in March, ending 2 percentage points below February.

—Minivans: Prices dropped slightly, down 1 percentage point from February levels.

—Trucks: Prices declined sharply in March as OPENLANE said there were off by 9 percentage points from the prior month.

Despite rising gas costs, OPENLANE noticed SUV prices trended up in March, increasing 1 percentage point from February.

As far as dealer interest by body style, OPENLANE determined dealer interest in cars spiked sharply in March, rising by 16 percentage points compared with March of last year.

Meanwhile, the online auction company indicated dealer interest in minivans dropped versus the prior month, but exceeded March 2010 levels by 15 percentage points.

Despite rising prices, OPENLANE said SUV interest declined last month and ended 14 percentage points below March 2010 levels.

Finally, the company noted dealer interest in trucks slumped relative to February and ended 37 percentage points below March of last year.

OPENLANE Carries Record Growth & Momentum into 2011

In other company news, OPENLANE announced a number of record-breaking sales achievements across several important metrics for the first quarter of this year.

Thus far in 2011, company officials declared they have shattered a number of sales records including:

—Highest overall sales volume ever in one month: 41,408 units in March.

—Most OPENLANE Open Auction sales in one quarter: 15 percent year-over-year growth from first quarter 2010.

—Most dealer-consigned sales in one quarter: 93 percent year-over-year growth from the first quarter of last year.

“OPENLANE’s goal is to be the most trusted online marketplace for sellers and buyers. We are very excited to see such a strong start in 2011,” stated Peter Kelly, chief executive officer of OPENLANE.

“The combination of great customer partnerships and significant improvements to our online auction site has been the key to our continued momentum,” Kelly continued. “We believe that the services we offer in conjunction with our valued partners and the innovative technologies we are constantly adding to our auction, such as our new mobile-optimized site, will help drive continued growth and adoption.”

OPENLANE also continued to make significant improvements to its online auction to add value and offer valuable services to its more than 25,000 registered dealers. One of the biggest new features was the addition of the company’s mobile-optimized site for anywhere, anytime auction access for dealers.

By providing mobile functionality to Apple iOS and Google Android smartphone users, OPENLANE insists that it gives dealers the freedom to check in on account status, track auctions and search, and bid on vehicles directly from their mobile phones.

Furthermore, OPENLANE previously announced the launch of a 10- and 30-day Buy-Back Guarantee Program, giving buyers the option to return their vehicle purchase for a fee if they are not satisfied within the specified time.

Additional enhancements to the online auction announced this year included improvements to the Homepage and Watchlist page, more accurate Market Value Guidance and Enhanced Vehicle Search capabilities.

“OPENLANE is a trusted source of inventory for my dealership which is even more important to me in 2011 with inventory in short supply,” noted Mike McLachlan, operations manager of Fayetteville Auto Marts.

“OPENLANE has continually offered new enhancements and services to make it easier for me to do my job,” McLachlan added. “OPENLANE’s new mobile functionality makes it easier for me to search, bid and buy when I am not at my desk or at the dealership. With access to this new mobile site, I don’t miss a thing.”