OPENLANE: Canadian Auction Prices End Winter Slowdown
REDWOOD CITY, Calif. — Canadian auction prices showed improvement in April, and it appears the massive drops-off from the winter have stopped, according to the latest OPENLANE Market Index Report.
More specifically, auction prices climbed 4 percentage points month-over-month.
"Canadian prices showed upward trend in April, ending the month 4 percentage points above March levels," officials noted. "Overall, year-to-date trends indicate that Canadian prices have arrested the steep declines in prices they experienced from December 2009 to February 2010."
Looking at vehicle segments, cars showed an upswing in their price from March, while minivans were down. When the month closed, the values of trucks and SUVs were static from March.
The upward movement in car prices began during the middle of the month. Prices for this segment in the final week were up 9 percentage points from the previous month's level.
As the month wore on, minivan prices dipped slightly from where they stood in the first week, but their average for April was still up 1 percentage point month-over-month.
For SUVs, their prices fell 4 percentage points week-over-week in the second week of the month. However, they "bounced back to end the month 2 percentage points relative to March 2010 levels."
After truck pricing's upward trend peaked in the first week, the segment's prices trended modestly downward during April. Their prices in the final week were off 2 percentage points from March's average price.
As far as dealer interest, cars showed a 10 percentage-point gain month-over-month and a 20-percentage-point year-over-year rise.
There was a 10-percentage-point decline in dealer interest for minivans from March, but an upward movement of 20 percentage points versus April 2009.
Meanwhile, SUVs were static from March. Compared to last year, dealer interest in the segment fell 16 percentage points.
Finally, in the truck segment, there was a 5-percentage-point dip versus March. Dealer interest from April 2009 was off roughly 40 percentage points.