LotLinx Weekly News Vol. 226: If You’re Not First to the Data, You’re Last

FROM CAR AND DRIVER: Electric Cars’ Turning Point May Be Happening as U.S. Sales Numbers Start Climb

Overall EV market share has reached a record 4.6%, a slow but progressive movement. It is anticipated that 25-30% of all new vehicle sales will be electric by 2030. To expedite this growth, public charging must be readily available in order to ease ongoing concerns.

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FROM CBT NEWS: How Car Dealers Can Help Their Salespeople Find & Sell More Used Cars – Jennifer Suzuki 

Times are changing and the pressure for salespeople to be familiar with the inventory on their lots is higher than ever. Dealers can retain shoppers by understanding customers’ wants and skillfully promoting new and used inventory.

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FROM AUTOMOTIVE NEWS: Brand and Dealership Loyalty Decreasing as Consumers Pay More

80% of buyers in the last two months have purchased vehicles at or over the MSRP, but steep dealership pricing has drawn criticism from consumers. 27% of purchasers said they wouldn’t buy from the same brand again, while 23% felt the brand’s reputation has now been damaged.

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FROM CBNC: These Are the Companies Racing to Dominate the Fragmented Auto Dealership Industry

Six publicly traded groups continue to expand their market share of the industry’s 16,000 active dealerships. Through the repurchasing of stock, investing in acquisitions, and increased earnings per unit, these groups only have more opportunity to grow.

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