Lotlinx Weekly News Vol. 268: Tesla graduating at the top of the class?

Lotlinx insights:

Do you know all there is to know about your inventory?

Think you know everything about your inventory? Use our comprehensive checklist to fill in strategy gaps to maximize your dealership’s potential with a “VIN-specific” marketing strategy.

Read Here

Industry roundup:

FROM COX AUTOMOTIVE: New-vehicle sales in May expected to jump by 20% as inventory concerns fade

Projected SAAR in May reached 14.9 million units, marking a substantial year-over-year increase of 2.3 million units, although down from April’s level of 15.9 million. Affordability challenges continue to impact sales, with monthly payments for new-vehicle loans exceeding $700 on average.

Read more

FROM KELLEY BLUE BOOK: American consumers’ number one complaint? Car sales and services

Consumer complaints regarding buying, leasing, and repairing cars rank highest among all transactions for the 7th year in a row. Clear advertising and upfront communication are crucial for dealerships to avoid misleading customers and potential complaints.

Read more

FROM CBT NEWSModel Y projected to world’s best-selling car, first EV to top list

Tesla’s Model Y is projected to surpass the Toyota Corolla as the world’s best-selling car, with 267,000 units sold globally. This achievement marks a significant milestone for Tesla, but its position in the industry remains uncertain as competition in the EV market intensifies.

Read more

FROM USA TODAY: Used car prices have dropped from all-time highs. But is now the right time to find a bargain?

The average price of a used car in Q1 dropped 6.4% year-over-year to $28,381. Tight supply and strong demand cause prices to remain high, emphasizing the importance for dealers to anticipate trends and adjust their purchasing decisions to meet customer demands in the competitive industry.

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. 

DragPlay