OPENLANE: Wholesale Prices Show Sequential Weakness, but Notch Year-Over-Year Gains
January wholesale prices were softer on a sequential basis, but improved from the year-ago period, according to the latest OPENLANE Market Index report, which pointed to year-over-year gains in two of four segments included in the analysis.
Specifically, OPENLANE indicated that January auction prices were 5 percentage points softer than where they were in December. However, they showed a 4-percentage-point year-over-year gain.
Breaking it down by segment, prices for cars were up on a year-over-year basis and were down 7 percentage points month-over-month.
Minivans showed gains in prices on both a year-over-year and sequential basis, OPENLANE said. Compared to December, prices were ahead 5 percentage points.
SUV prices dipped from January 2010 and from December. They showed a 3-percentage-point month-over-month decline.
Trucks were down both sequentially and year-over-year, as well. Prices were 4 percentage points softer compared to December’s level.
Moving on to discuss dealer interest, cars showed both a sequential and year-over-year gain. Dealer interest for cars jumped 7 percentage points year-over-year.
Minivans also were also up in both comparisons, showing an 11-percentage-point year-over-year gain.
Conversely, interest in SUVs fell from December and from January 2010. The year-over-year drop was 4 percentage points.
Finally, trucks were static from the prior month. However, interest in the segment was 17 percentage points weaker than the year-ago level.