See the top headlines! Catch up on the automotive industry’s latest news to plan for your dealership’s continued success.
🗞️ Industry roundup: FROM WARDSAUTO: Retail ride still bumpy, but good news is ahead November 2024 marked strong new-vehicle sales, with a 6.7% YoY increase and consumer spending reaching nearly $50 billion, a record for the month. However, rising inventory levels and deeper discounts have driven down average transaction prices and dealer profits, with per-unit…
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🗞️ Industry roundup: FROM J.D. POWER: Inventory and pricing drive gains in sales satisfaction but other areas have modest improvement, J.D. Power finds Customer satisfaction with the vehicle purchase process rose to 801 on J.D. Power’s 1,000-point scale, up from 793 last year, according to the 2024 U.S. Sales Satisfaction Index (SSI) Study. Improved inventory…
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🗞️ Industry roundup: FROM FORBES: Shoppers sit on their wallets; October auto sales gain only slightly U.S. auto sales in October 2024 rose around 2.1% from October 2023, reaching around 1.3 million vehicles. Despite a 25.1% increase in inventory (1.9 million vehicles) and higher incentives averaging $3,149 (up 70.5% from last year), many customers are…
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Lotlinx insights: Lotlinx Q3 Vincensus Reveals A Largely Aging Vehicle Inventory Industry-wide inventory challenges persist as electrified vehicles gain market share; Lotlinx customers outperform market averages in inventory management Click here to read more and download the Q3 Vincensus report. Industry roundup: FROM CNBC: American consumers are increasingly underwater on their car loans The average…
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.
Lotlinx insights: Lotlinx Announces New Risk Report, Insight Into Dealer Inventory The brand new Risk Report offers a unique and customized view of a dealer’s inventory carryover, markdown, and aged risk data. This free report offers insights that help dealers optimize their inventory strategy with a weekly analysis of their store’s inventory data, and they…
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Lotlinx insights: Ready for the back half of 2024? Explore 9 automotive dealership trends that will matter to your business in the months to come and 3 steps to stay competitive. Unpack trends including: Download now Industry roundup: FROM AUTOMOTIVE NEWS: U.S. vehicle inventory hovers below 3 million New-vehicle inventory levels have sat right under…
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Lotlinx insights: 10 tips for winning every day at the dealership In the competitive world of automotive sales, running a dealership means juggling numerous tasks to ensure smooth operations and satisfied customers. To help you excel, we’ve compiled a list of the top 10 daily tasks every dealership should prioritize. Download now Industry roundup: FROM…
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Lotlinx insights: How ChatGPT helps car dealerships make more sales Download the free infographic to learn how to increase productivity across four different dealership departments with ChatGPT. Plus, explore five different prompt frameworks to better improve your search queries when interacting with large language learning models, like Lotlinx’s Lex chatbot. Download now Industry roundup: FROM…
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Lotlinx insights: Bonnell Ford doubles sales with a new approach to marketing aged inventory Bonnell Ford has faced a host of challenges since Covid, including inventory shortages, payroll and price increases, and rising interest rates, all of which have made running the business more difficult. To address these issues, Bonnell Ford has partnered with Lotlinx…
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Lotlinx insights: Your Guide to Summer Sales Proactive inventory management can strengthen summer sales and heat up your dealership’s profitability. Download the Summer Sell Down Guide to learn: Download the free guide now. Industry roundup: FROM BLOOMBERG: GM, Porsche and even Musk agree: we’re going to need more gas While EVs could account for more…
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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