Vincensus Offers Real-Time Visibility for OEM-specific and Dealership Inventory, Plus Key Data on Pricing and Markdowns
DETROIT, May 7, 2024 /PRNewswire/ — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today its inaugural Quarterly Vincensus Report, the most comprehensive monthly/quarterly inventory report in the industry. Each month and quarter, the Vincensus Report will offer deep real-time data and insights visibility into the trends shaping OEM-specific and dealership inventory for both new and used vehicles, as well as key data on vehicle pricing and markdowns. Click here to download the inaugural Q1 Vincensus Report.
Vincensus is a monthly/quarterly syndicated report crafted to demonstrate the state of automotive inventory across major OEMs. It serves as a detailed comparative analysis that shows how each OEM is performing against industry benchmarks, so dealers can see where they rank amongst their competition. This approach not only highlights relative performance metrics but will also demonstrate where buyer demand is. It also shows how their data has changed each month, month over month, and quarter over quarter.
Q1 New Inventory Data Trends
Data in the inaugural report show that new vehicle inventory reached 80 days supply at the end of the first quarter. Forty-eight percent of new inventory was considered aged (ending over 45 days), with 50% of new carryover inventory during the quarter, 19% of new inventory sold with a markdown, and 63% of new inventory listed as unviewed online.
Q1 Used Inventory Data Trends
Data in the inaugural report show that used vehicle inventory was just 40 days supply at the end of the first quarter. Forty-six percent of used inventory was considered aged, with 56% of used carryover inventory during the quarter, 35% of used inventory sold with a markdown, and 52% of used inventory listed as unviewed online.
The Vincensus report was developed using Lotlinx’s proprietary Lexaca data, the largest inventory specific data set with over 24 billion data points, that leverages machine learning models that have been evolving for the past 10 years.
Lexaca offers comprehensive, market and competitive data for every vehicle on a dealer’s lot, enabling dealerships to easily inform strategy and decision making for each VIN or vehicle segment (ex: condition, body style, model). Lexaca can answer questions about a dealer’s inventory down to the VIN level to help them make strategic decisions and seize new opportunities. The bot’s feedback is based on more than a decade of historical data tracking more than 160 market factors impacting every VIN that has traveled every dealer lot in America.
“Real-time data and insights for new and used OEM-specific inventory is paramount in today’s auto dealership landscape,” said Len Short, Executive Chairman of Lotlinx. “By leveraging our new Vincensus quarterly and monthly reports and staying informed on the trends shaping inventory, pricing, and markdowns, auto retailers can swiftly adapt and make informed decisions. This visibility enables agile responses to local and tier-two market changes, optimizing inventory management, pricing strategies, and ultimately, driving a distinct competitive advantage in the dynamic automotive market.”
Click here to download the inaugural Q1 Vincensus Report.
About Lotlinx
Founded in 2012 and based out in Peterborough, New Hampshire, Lotlinx is the automotive industry leader in VIN-specific data solutions for inventory management. The Lotlinx platform provides automobile dealers and manufacturers with enhanced operational control over their retail business. Leveraging state-of-the-art real-time data and machine learning technology, Lotlinx provides a precision retailing solution that enables dealers to automatically adapt to market dynamics, mitigating inventory risk through VIN-specific strategies. To learn more about Lotlinx, please visit www.lotlinx.com.