OPENLANE Releases Market Index; Wholesale Prices Continue Strong
On March 16, OPENLANE released its March Market Index, which showed price improvements among cars, trucks, minivans and SUVs.
According to the OPENLANE, the value for cars has risen for two consecutive months after peaking in September 2008. However, cars are still 8 percent below the value level of February 2008.
SUVs still remain 4 percent below their February 2008 mark; however, SUVs have been on an upward track since December 2008.
Additionally, the company says both trucks and minivans have risen about their price points registered a year ago.
Vice President of analytics for OPENLANE Nagi Palle said the market has somewhat recovered from the third and fourth quarters of 2008.
However, Palle said dealer interest in trucks have dropped 13 percent, putting the level below the February 2008 point. SUV interest has slipped 6 percent.