Lotlinx Weekly News Vol. 265: May-be sales are turning around?

Lotlinx insights:

Dealers control profitability with Lotlinx.

Listen to VP of Enterprise Solutions, Zach Wilmes, show why Lotlinx is necessary to minimize advertising waste and control company profitability.

Watch the video

Industry roundup:

FROM AUTOMOTIVE NEWS: April auto sales defy economic uncertainty

The seasonally adjusted annualized sales rate reached 16.15 million in April, surpassing January’s 16.12 million. Light-vehicle sales reached 1.36 million units, rising an average of 8.9% for individual OEMs, and proving that supply chain pressures and pricing concerns may be easing up.

Read more

FROM CNBC: Used vehicle prices fell last month for the first time in 2023

A 3% decline in the used vehicle value index was reported between March and April, down 4.4% from last year. Decreased wholesale prices and increased new-vehicle production has led to an average used-vehicle retail price of $26,086.

Read more

FROM REUTERS: Automakers say proposed U.S. emissions rules pose challenges

In 2022, EVs accounted for 6% of new light-duty vehicle sales, a notable increase from 3% in 2021 and 2% in 2020. However, the government’s ambitious goal of 60% by 2030 will be a challenge for automakers due to supply chain limitations and consumer resistance.

Read more

FROM KELLEY BLUE BOOK: Car shoppers with lower credit scores face limited purchasing options

Rising interest rates are driving subprime buyers away from the new-vehicle market, with subprime buyers representing only 6% of new-vehicle sales, and deep subprime less than 2%. Consequently, these buyers are turning to the used-car market, which may offer some short-term relief.

Read more

Enjoyed this roundup? Subscribe to Lotlinx News for weekly automotive industry-updates direct to your inbox.

Want more top headlines? Catch up on past editions of Lotlinx News.

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. 

Take your dealership to the next level.

It’s your dealership. Control it with Lotlinx.

Request Demo