OPENLANE releases Market Index for June

OPENLANE released its Canadian Market Index for June and found that overall Canadian auction prices were up 1 point from May, and remained 5 points above June 2010 levels. While car prices were up in June, minivan, SUV and truck prices all dropped relative to the May figures. The OPENLANE Market Index represents pricing and dealer vehicle interest trends across all vehicle segments in the company’s online marketplace.

The US figures show that new vehicle sales of 1.05 million showed a 1% decrease from May, but were up 7 percent year-over-year. The Market Index report found that June’s used vehicle sales of 4.5 million were up 9 percent over May, and this represents a 3 percent year-over-year increase.

Here is a summary of key findings and trends from the Canadian Market Index:

·Car prices increased 2 points from May;

·From May 2011 levels, minivan prices dropped 7 percentage points; SUV prices dropped 4 points; and truck prices dropped 3 points;

·SUV and truck interest increased in June, but interest in cars and minivans dropped;

· Interest in cars remains above June 2010 levels, but interest in minivans, SUVs and trucks have all dropped from the previous year.

The US Market Index found that overall US auction prices were up one point in June over May but ended 2 points above June 2010 figures.

U.S. Pricing/Dealer Interest Trends:

·June car prices ended 2 percentage points above May 2011 levels;

· Minivan prices decreased, down 1 point from May;

· SUV prices were flat for the third month; truck prices continued to decline and were down 1 point from May

· Interest levels for minivans, SUVs and trucks rose in June while car interest decreased sharply in June, but ended 4 points above June 2010 levels

· Truck interest is rising, but remains lower than in 2010

For more information visit: www.openlane.ca or call (866) 966-5263.

About Todd Phillips

Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.

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