Lotlinx insights:
Strategies to Combat Inventory Risk Checklist
Managing your dealership’s inventory risk factors will be crucial in achieving sales and profitability in 2024. Is your dealership’s inventory strategy ready to take on the changing market?
The Lotlinx Inventory Strategies Checklist covers six steps to analyze your inventory management and combat inventory risk.
Download your free checklist now to see how you stack up:
Industry roundup:
FROM AUTOMOTIVE NEWS: Market gets February bounce after January lull; SAAR tops 16 million
The new car market grew 9.2% last month, for the industry’s 19th consecutive month of sales growth. All reporting OEMs saw positive growth month-over-month, excluding a dip from Volvo. These increases were fueled by wider inventory selections and larger price discounts.
FROM AUTO REMARKETING: Lane watch: February closes with ‘robust performance’
Wholesale sales rates were up and vehicle depreciation was minimal during the month of February, signaling a strong start to March and the spring selling season for the used car market.
FROM THE NEW YORK TIMES: Where electric vehicles are (and aren’t) taking off across the U.S.
Last year, EVs made up 8.5% of U.S. market share, while hybrids controlled another 10%. However, their popularity is not evenly spread across the country, with major metros on the west coast making up the bulk of EV adoption while smaller, inland cities are opting out of making the switch.
FROM WARDS AUTO: Major car markets (and OEMs) have stopped growing
Manufacturers across the globe have had a slow few years of sales and financial growth, with few being able to fully rebound to the peak performance levels of 2019. Without significant growth, the battle for market share is only going to get more competitive for OEMs and their dealers.
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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.