🗞️ Industry roundup: FROM REUTERS: U.S. retail sales showcase economy’s enduring strength Retail sales across the nation grew 0.7% month-over-month in November, exceeding forecasts by 0.2% and showing strength in the consumer market. This growth was bolstered by a 2.6% increase in auto dealership sales and a 1.8% increase in online retail sales ahead of…
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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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Big data is a part of every major modern industry. How well do you know yours? Can you even tell the difference between good data vs. bad data? Organizations frequently deal with problems like incomplete, inaccurate, or unsecured data. Managing undiscovered or hidden data adds to this. Gartner claims that poor data quality costs organizations…
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Innovative AI-driven Solutions And Standout Leadership Propel The Company To The Forefront of Automotive Technology DETROIT –Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, is proud to announce that it has been named the winner of the 2024 AutoTech Breakthrough Award in the “Best Use of AI in AutoTech” category. This…
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For over 100 years, the Lake Auto Group has been serving customers in the highly-competitive Milwaukee market. In order to stay sharp, the group’s Chevrolet and Ford stores enlisted the help of the Lotlinx VIN-specific platform and the Showroom mobile-optimization product. Together, the stores were able to improve their online inventory listings, attract more interested…
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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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In today’s competitive automotive market, a well-stocked inventory is just scratching the surface. The key to success comes from developing a strategic approach to guide potential customers through the buying process. According to Consumer Affairs, there were over 52 million car sales in 2022. With demand at its highest since before the pandemic, mastering your…
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DETROIT, Oct. 8, 2024 /PRNewswire/ — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today a new Risk Report, offering 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…
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