We already know AI works for the auto industry. It’s fast, it’s smart, and it’s a tool to help dealers move metal faster. But each AI model is different, and the countless ways to use them can be overwhelming. ChatGPT can be a powerful ally for car dealerships that want to push more sales, customer…
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Car dealers always have something to track — dealership industry turnover, invoicing delays, labor rates; the list goes on. With the car dealership industry generating over $1 trillion in new vehicle sales in 2019 alone, the industry is both vast and challenging. It requires big investments but often operates with tight profit margins. It requires…
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Over the past twenty years, selling new cars has become less profitable for many reasons. Stock market ups and downs, intense competition among manufacturers, and shifting consumer tastes have all joined the mix— even cyberattacks on major software providers; this month’s CDK Global attacks have caused widespread outages felt across the American auto retail sales…
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Building trust and credibility in the digital age of auto sales is one of the main determinants of success. Today, half of a consumer’s decision to repurchase or recommend an automotive brand or dealer revolves around trust. Although dealerships and car salespeople have historically faced skepticism, earning trust is achievable with the right approach. Embracing…
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.
In an industry traditionally hesitant to embrace change, modern auto dealerships are now gearing up for a revolutionary shift. Historically, the intricacies of buying a vehicle—from delivery logistics to the high stakes attached to each purchase—have made the automobile sector a laggard in tech adoption. Unlike simpler commodities like books or electronics, cars posed a…
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Artificial Intelligence (AI) holds big potential for the automotive industry in marketing and sales (M&S). Harnessing AI can transform how automotive Original Equipment Manufacturers (OEMs) and retailers engage with customers, improving operations, personalizing interactions, and ultimately driving higher sales and lower costs. Here’s What You Need to Know About The Applications of AI in Automotive…
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In the world of car sales, pricing strategies—especially the debate over dropping prices or “marking down” vehicles—come up often and can get pretty heated. The wisdom passed down between generations is that if a car is not selling, “mark it down.” Drop the price low enough, and the car will sell — so it works,…
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Running an auto dealership comes with its unique set of challenges and rewards. Among the endless metrics to keep tabs on, the inventory turnover ratio is a critical indicator of a dealership’s operational performance. This ratio, calculated by dividing the cost of goods sold by the average inventory value, reveals how frequently a dealership cycles…
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Running a dealership is like driving down a busy highway. You need the right car in stock, a clear roadmap to reach your target customers, and functional operations to keep things running smoothly. But in today’s competitive market, relying on instinct and experience alone can leave you stuck in the slow lane. In order to…
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For years, dealerships have walked on a tightrope of car inventory challenges, stocking up on the right VINs without risking overspending on inventory that could sit unused for extended periods. The unpredictable nature of sales and the unique customers that arrive at any given moment looking for a specific vehicle model make inventory management complex….
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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