LotLinx Weekly News Vol. 214: Oh, The Places Inventory Will Go

FROM AUTO NEWS: Texas U.S. Leader in Dealership Acquisitions 

In 2021, Texas led both in the number of buy-sell transactions completed and the number of individual dealerships in the state sold. Of the 382 transactions, 34 were in Texas and involved the sale of 63 dealerships.

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FROM WARDS AUTO: Successful Dealers Mix In-Person, Online Customer Interactions

Recent surveys found that shifting the car buying experience entirely online may be fundamentally flawed. To maximize profit, dealers must allow consumers to decide what hybrid model will fulfill their needs.

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FROM KELLEY BLUE BOOK: Gas Prices Breaking Records Daily

The average price of gas per gallon has continuously hit a nationwide record high since last week. Despite this, gas production is unlikely to escalate. So, what now? One solution – driving less.

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FROM FORBES: Rising Credit Costs, Transaction Prices Slamming Auto Affordability, EV Adoption

Inflation, interest rates, thin inventories, and record-high monthly auto loan costs are hindering overall auto sales, especially prevalent in the transaction of electric vehicles. Trade-ins are enticing profitable payouts from dealers desperate to fill their lots.

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