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New inventory grew by 9% causing day supply to increase by 3 days to 79 days as supply constraints were alleviated for some brands. Sales growth slowed slightly, increasing by just 1% MoM as prices continue to rise heading into the end of the year. However, hybrids saw list price fall by 5% YoY, contributing…
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New inventory grew by 9% causing day supply to increase to 76 days, 24 days higher than last year. This rise is partly due to more 2025 models arriving on lots, while unsold 2024 models pose a growing risk for dealers. Prices for gas units continue to rise even as consumer affordability remains a focus….
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As the summer demand wave receded, September marked a cooling in both the new and used vehicle markets. New vehicle demand saw a slight drop of 2% MoM, while used vehicle sales experienced a steeper decline of 10%. The easing demand, coupled with increased inventory, led to a slight rise in vehicle day supply for…
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The market showed stabilization in new car pricing but could see more aggressive discounting strategies to manage inventory levels. Aging concerns YoY were still very much present as aged inventory increased by 11% and day supply increased by 25 days YoY. While some recalls and supply chain issues affected specific model sales, the overall market…
Read moreMaximize your profits with our automotive technology solutions that execute VIN-specific strategies via innovative features, including real-time market analysis and inventory management that increases turn, reduces waste, improves margins, and controls risk.
The overall market sentiment remained cautious due to the lasting impact of the CDK hack. While the most severe effects were mitigated, the market has not yet fully normalized. The automotive sector demonstrated resilience, particularly in used car sales that saw an 11% increase, but struggled to fully recover lost sales and demand, especially for…
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Dealers commonly voice concerns about relying on pricing tools, fearing they might trigger a downward spiral in prices. However, data-driven decision-making has never been more crucial in today’s industry landscape. A data-driven approach can, in fact, propel dealerships towards a “race to the top” in terms of front-end gross profit. Market pricing tools have long…
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The CDK Global hack significantly impacted sales in June. The cyberattack disrupted software systems at thousands of dealerships, forcing many to revert to manual processes, such as using pen and paper for transactions. This led to delays and reduced efficiency, contributing to a 5% decrease in new vehicle sales and 7% in used. The market…
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In May, a decreasing day supply and stable sales in the used car market suggested strong demand. This requires dealers to have a more disciplined approach to their inventory management. Conversely, the high day supply in the new car market indicates potential oversupply issues or weaker demand. New Vehicles: Used Vehicles: A peek into June:…
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Our 2024 Spring Inventory Strategies Guide dives into the market factors that may create risk for your dealership this year and the strategies you can use to combat it. Use your guide to unpack:
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This March, Lotlinx presented more than 2,500 auto professionals with a survey to see how they tackle inventory management. The results confirmed that many dealers are still behind the curve when it comes to inventory technology adoption. For example:
Read more Lotlinx was created to hand operational and fiscal control back to the dealer. We have been harnessing our AI and machine learning technology for over a decade, purely focusing on how dealers can move their inventory more efficiently and effectively.
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