Lotlinx insights:
Using Performance Metrics to Evaluate Digital Advertising
Displaying the right ads to an in-market audience that is interested in the VINs a dealer is selling will always be more effective than producing many ads promoting a wide variety of vehicles.
Industry roundup:
FROM AUTOMOTIVE NEWS: UAW-Detroit 3 negotiations live updates
Stay tuned in to the United Auto Workers union and Detroit 3 negotiations as they approach their September 14th contract expiration. All three automakers have been actively bargaining with the president of the union in the hopes of avoiding a potential strike.
FROM CNBC: In ‘shift,’ some car shoppers shun top-of-the-line models
The demand for reasonably priced inventory is evident in the days-on-lot disparity between vehicles priced above $50k and below $50k – 40 days versus 26 days respectively. This shopping trend was flipped mid-pandemic when buyers shelled out for luxury units.
FROM CAR AND DRIVER: The EV adoption gap between states is growing
A new study aims to track EV adoption across the country, noting a clear divide between states that are heavily adopting and states that are refraining. California, Washington, and Hawaii are leading the charge, while West Virginia and the Dakotas are bringing up the rear.
FROM WARDSAUTO: Dealers hunt for used vehicles
Dealers are interested in maintaining used-car profits, but wholesale prices have made them hesitant about sourcing inventory from auctions. Auction values have been falling steadily for 12 months, but August declines were less notable than in June and July.
Enjoyed this roundup? Subscribe to Lotlinx News for weekly automotive industry-updates direct to your inbox.
Want more top headlines? Catch up on past editions of Lotlinx News.
About Lotlinx:
Lotlinx empowers automobile dealers with data and technology to give the best possible market advantage on every vehicle transaction. Lotlinx offers a suite of features such as real-time market analysis, inventory management, and precision targeted vehicle advertising. Dealers leverage the platform to identify potential inventory risks and execute VIN-specific strategies enabling them to move inventory faster and more efficiently.
To start leveraging Lotlinx technology at your dealership, request a free, individualized Inventory Risk Analysis.