Looking Ahead: 2024 Predictions for Automotive Inventory

Webinar recording from February 20, 2024.

Recent industry reports anticipate a cautious return to normalcy in 2024, projecting a slight uptick in new vehicle sales, despite rising interest rates. But what is “normal” for the auto industry? While initially not cause for concern, there are underlying issues that do not come into focus when solely examining industry averages. While there are some inventory segments that are performing well, some will lead to profit erosion.

In this webinar, we will elaborate on how dealerships should shift their focus towards risk mitigation at the model and VIN level to maximize gross in what still remains an unstable market. Given that the majority of dealerships are already aware of these insights, they may not find them particularly actionable. We will provide strategies and solutions that dealers can execute to push sales volumes closer to pre pandemic norms.

Key takeaways:

1. Review the latest industry market trends + predictions for 2024 including production levels, affordability challenges and vehicle supply.

2. Dive into the newly established supply-demand equilibrium and define what a balanced market truly consists of.

3. Learn how to manage inventory similarly to managing a financial portfolio – including steps to mitigate risk.

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. 

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