LotLinx Weekly News Vol. 232: Falling Leaves or Falling Prices?

FROM REUTERS: Auto Industry Ad Spend Falls to $4.8 Billion in First Seven Months of 2022, Data Show

Without inventory to promote, the auto industry has decreased advertising 4% year-over-year and 12.7% compared to 2019. Despite this dip, digital spending alone makes up 53% of the industry’s total advertising investment.

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FROM AUTOMOTIVE NEWS: Plenty of Questions Remain in Shift to Online Ordering

Legacy OEMs remain determined to take on their direct-to-consumer competitors. In its latest push, Ford asked dealers to make significant monetary investments in their businesses while forfeiting some of their existing responsibilities.

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FROM AUTO REMARKETING: Wholesale Prices Continue Notable Downward Slump at September Midpoint

This year’s hot used-vehicle trends have finally cooled, with wholesale supply leveling out year-over-year. Used-vehicle values are expected to decrease throughout the end of the month after a 2.3% drop in the first 15 days.

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FROM BLOOMBERG: Record Shipping Costs Add to Auto Industry’s Supply Chain Woes

As if manufacturing inventory wasn’t difficult enough… Limited shipping resources and exorbitant costs have provided another deterrent to increasing state-side vehicle supply.

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