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.
Industry roundup:
FROM AUTO REMARKETING:Â 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.
FROM WARDS AUTO:Â 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.
FROM KELLEY BLUE BOOK:Â More 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.
FROM AUTOMOTIVE NEWS:Â 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:
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.