OPENLANE market report shows strength

Online auction company OPENLANE says October’s market index levels showed growth over last months tally but are still lagging six percentage points behind last year’s monthly results.

Overall year-to-date trends indicate that Canadian prices have arrested the steep declines in prices they experienced from December 2009 to February 2010.

According to the Canadian price trend by body style, car, SUV and truck prices all increased in October while minivan prices fell.

Car prices held the sharpest increase in October up seven percentage points from September 2010.

Minivan prices fell five percentage points from last month’s levels as SUV prices rose four percentage points over the same time period.

Dealer interest by body style centred around minivans, which experienced a spike of 21 percentage points.

Interest for SUVs and trucks remained “essentially flat.”