Lotlinx Weekly News Vol. 267: Long weekend, long awaited price drops

Lotlinx insights:

Understanding today’s automotive marketing lead funnel

In the latest episode of Dealer Talk with Jen Suzuki, Suzanne Reimer explores the significance of marketing lead funnels in the automotive buyer market. As trends and technologies continue to evolve, they examine the need for continuous learning and adaption in the world of automotive marketing.

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Industry roundup:

FROM AUTO REMARKETING: Steady decreases heading into Memorial Day weekend

As the industry approaches Memorial Day weekend, wholesale vehicle prices continue to decline at steady rates, regardless of vehicle age. A 0.13% average decrease was recorded across the three primary age categories.

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FROM WARDS AUTO: Dealers are stayin’ alive as retail continues to shift

Despite the surge in inventory, dealers are in need of vehicles priced below $30,000, while customer reluctance towards EVs causes concern for many. In response, dealers are seeking to improve relationships with OEMs to navigate current challenges and meet the evolving demands of the market.

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FROM KELLEY BLUE BOOKMore shoppers consider hybrids than EVs

Hybrids remain most popular among new car buyers, despite new tax credits for EVs. About 25% of shoppers expressed interest in an electrified vehicle, 18% were looking for a hybrid or plug-in, and 9% considered a full EV, with Toyota taking the lead as the most shopped electrified vehicle.

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FROM AUTOMOTIVE NEWS: Used-vehicle retailers shifted Q1 goals to profit over volume

Retailers are prioritizing increasing gross profit per used vehicle over growing sales volume after used-vehicle profitability declined an average of 4.3% in Q1. Industry challenges such as limited availability and increased demand for affordable vehicles are the main contributors to this decline.

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About Lotlinx:

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