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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:…
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.
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:
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As we delve into the market data for April, a few interesting items emerge. Overall, our data indicates a challenging market environment characterized by increasing inventory levels, declining sales volumes, and downward pressure on prices for both new and used vehicles. Current efforts to address aging inventory and carryover percentage have had limited success, highlighting…
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Introducing Lotlinx’s First Quarterly Vincensus Report We are excited to bring you our new Vincensus Report for the first quarter of 2024, which is the most comprehensive monthly/quarterly inventory report in the industry. This report was developed using Lotlinx’s proprietary Lexaca data, the largest inventory specific data set with over 24 billion data points, that…
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Managing your dealership’s inventory risk factors will be crucial in achieving sales and profitability in 2024. Is your dealership’s inventory strategy ready to take on the changing market? The Lotlinx Inventory Strategies Checklist covers six steps to analyze your inventory management and combat inventory risk.
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Our 2024 Lotlinx Inventory Predictions guide lays out five reasons why the automotive market is still rebounding in the new year. Understanding potential inventory risk factors is crucial for managing sales and profitability in 2024.
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.
It’s your dealership. Control it with Lotlinx.
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