Lotlinx insights:
2024 Auto Retail Inventory Pulse
Our 2024 Spring Inventory Strategies Guide dives into the market factors that may create risk for your dealership this year and the strategies you can use to combat it.
Use your guide to unpack:
- 5 inventory risk predictions
- 4 factors impacting dealership financial risk
- 6 simple strategies to mitigate predicted risk
Download your free guide now to start defending against inventory risk:
Industry roundup:
FROM CBT NEWS: New vehicle days’ supply shrinks as affordability drives demand
Despite the month’s inventory levels increasing by 49% year-over-year, a higher daily sales rate caused the average days’ supply of new vehicles to drop by a week going from March (79 days) into April (72 days).
FROM CNBC: Why car insurance costs are skyrocketing and leading to higher inflation
Monthly car insurance prices are up 22.2% year-over-year and 2.7% month-over-month, due in part to the elevated costs of replacing or repairing new, expensive models with modern in-car technology.
FROM AUTO REMARKETING: Used car sales climb about 11% & move at faster clip
Together, franchised and independent dealers sold 1.66 million used vehicles last month, a year-over-year and month-over-month growth, with days’ supply for cars 1-5 years old decreasing for the third consecutive month.
FROM WARDS AUTO: Buy-sell activity continues to surge
After 397 transactions across 680 rooftops in 2023, the industry is poised to have another record-breaking year of dealership buy-sell transactions as successful dealers hope to profit off their businesses before the market shifts again.
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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.