OPENLANE Market Index
The OPENLANE Market Index represents pricing and dealer vehicle interest trends across all vehicle segments in our online marketplace.
The OPENLANE Price Index by Body Style measures pricing trends by vehicle segment. The OPENLANE Price Index by Model Year measures pricing trends by the age of the vehicle. It represents the most recent prices obtained at auction and provides for a high level trend of pricing in the just concluded month relative to monthly pricing since January 2008. Given the market volatility of 2008 in general, we have continued to show trends with January 2008 as a baseline. We intend to change the index to show a rolling 25 months sometime in the future.
The OPENLANE Vehicle Interest Indices by Body Style and Model Year trend are unique to OPENLANE and represent a leading indicator of what dealers are interested in acquiring for their used vehicle inventory. The index should help consignors and buyers get an early indicator for vehicle demand and provide high level insight on what they can expect in the marketplace over the next 30-60 days.
OPENLANE US Market Index
US Price Trend: US used car wholesale value declines over the past 4 weeks.
Overall sales prices reached their peak at the beginning of October and then weakened for the first time in 2009.
- Month over month price declines are across the board in October.
- Car prices have been steadily declining since the first week of October with some stability in Week 4.
- Minivan prices reached its peak value in the second week of October with a rapid decline thereafter.
- SUV prices remained steady in October with a drop at the end of the month
- Truck pricing declined in the second week of October then leveled off in the last three weeks.
Pricing by Model Year is a new feature of the OPENLANE Market Index. Comparisons between the 2009 and 2008 charts show the start contrast in prices in 2009 vs. 2008 - with aged vehicles showing a sustained high level of pricing through the year in 2009 vs. sustained declines in 2008 through the year.
- Pricing for 2007 Models reached its peak value in September 2008 then began its downward trend ending the year 7 percentage points below the January 2008 baseline.
- Pricing for 2006 Models stayed below the January 2008 baseline except for September 2008 and fell 22 percentage points below the baseline.
- Pricing for 2005 Models and older stayed at or slightly above the baseline for the first few months of 2008 but started its downward trend thereafter ending the year with over 20 percentage points below the January 2008 baseline.
|
- Pricing for 2008 Models stayed below the January 2009 baseline all year. Pricing reached its bottom level in June 2009 and is slowly on an upward trend.
- Pricing for 2007 Models and older held strong prices throughout 2009 and have stayed at or above the January baseline all year, while starting to show a decreasing trend entering the fourth quarter.
|
US Dealer Interest Trend: Dealer interest in Trucks, SUVs and Minivans increased while interest in Cars declined.
- The Car segment showed a slight decrease in dealer interest last month but exceeded October 2008 levels by 3 percentage points.
- Dealer interest in Minivans increased 6 percentage points last month and continued to exceed October 2008 levels by 33 percentage points.
- SUVs experienced an increase of 4 percentage points in dealer interest last month and slightly below October 2008 levels.
- Dealer interest in Trucks increased 4 percentage points last month but fell 24 percentage points below October 2008 levels.
- Dealer Interest in 2006 Models began its upward trend in June 2008 and reached its peak value in December 2008 with 65 percentage points above the January 2008 baseline.
- Dealer Interest in 2005 Models stayed above the January 2008 baseline until August 2008 and began its downward trend thereafter ending the year 45 percentage points below the baseline.
- Dealer Interest in 2004 and 2003 Models remained below the baseline all year and fell 78 and 68 percentage points below the baseline in December 2008 respectively.
- Dealer Interest in 2002 Models and older reached its peak value in October 2008 but fell 48 percentage points below the January 2008 baseline.
|
- Dealer Interest in 2007 Models began its upward trend in June 2009 and reached its peak value in October 2009 with 77 percentage points above the January 2009 baseline.
- Dealer Interest in 2006 Models stayed above the January 2009 baseline until July 2009 and last month was 41 percentage points below the baseline.
- Dealer Interest in 2005 Models remained below the baseline all year and fell 55 percentage points below the baseline last month.
- Dealer Interest in 2004 Models showed an increase in the first three months of 2009 but still 4 percentage points below the January 2008 baseline.
- Dealer Interest in 2003 Models and older showed a decrease in the middle of 2009 but started its upward trend starting in August 2009 with an increase of 68 percentage points above the January 2008 baseline last month.
|
OPENLANE Canadian Market Index
Canadian Price Trend: Canadian used car values strengthened.
Overall sales price remained relatively level through October with higher levels than September then reached its peak value at the end of the month.
- Car pricing remained relatively steady in October then finished strong at 10 percentage points above September levels.
- The Minivan segment showed an upward trend in the first half of the month with the peak value reached in the third week. While the second half of the month show a drop, Minivan prices continued through October with higher levels than September.
- The SUV segment showed an increase in pricing in the beginning of October then reached its peak value in the last week ending with higher levels than September.
- Truck pricing showed a steady decline through October.
Canadian Dealer Interest Trend: Cars and Minivans showed slightly more dealer interest while interest in Trucks and SUVs decline.
- The Car segment had a slight decrease in dealer interest last month but exceeded October 2008 levels by 49 percentage points.
- Dealer interest in Minivans increased 7 percentage points last month and fell 16 percentage points below October 2008 levels.
- SUVs had a slight decrease in dealer interest last month and fell 3 percentage points below October 2008 levels.
- Dealer interest in Trucks decreased slightly last month and fell 55 percentage points below October 2008 levels.
Comparing 2008 and 2009 Trends:
Overall used car pricing in the US was stable during the first four months of 2008 but decreased during the summer months when gas prices were at its peak. Prices picked up in September but ended the year 11 percentage points below the January 2008 baseline. Overall used car pricing in 2009 continued to have a steady upward trend for the year. US prices showed volatility in 2008 and stability in 2009.
Overall used car values in Canada in 2008 remained above the January 2008 baseline except for March 2008. Peak values were achieved in October 2008 then began a gradual descent. Overall used car prices in 2009 remained above the baseline all year.
Contact Us
|
OPENLANE
Phone: 866-969-0321 | Fax: 480-393-2960 | Email Us |
OPENLANE Canada
Phone: 866-966-5263 | Fax: 416-861-9864 | Email Us |
For questions or comments about this newsletter, send an email to news@openlane.com. |
