Lotlinx insights:
Don’t get burned by overstock.
Summer is one of the hottest selling seasons in the automotive industry. Ride the right wave using these 5 VIN-specific strategies and experience a care-FREE summer knowing you can move all your inventory with the Lotlinx VIN View Optimizer.
Industry roundup:
FROM AUTOMOTIVE NEWS: First-half U.S. sales scorecard
Midway through the year, GM maintains its sales position ahead of Toyota for the second consecutive year, while Ford is on track to become the top-selling brand after a 3-year gap. Most vehicle segments have experienced a rise in inventory volume, and the largest segments by sales in H1 were compact crossovers, full-size pickups and large crossovers.
FROM CBT NEWS: Credit access increases in June as auto financing trends stabilize
The collapse of several banks has caused auto financing to become easier to access, demonstrated by a 0.8% rise in the Auto Credit Availability Index. Despite being 7.1% more restrictive than in June 2022, consumer confidence levels improved 7% last month, showing high optimism for future financing.
FROM AUTO REMARKETING: Fourth of July week recap
The used market could be heading for a “summertime slowdown” after wholesale values saw a slight decline of 0.47%, and overall car segment values showed a slightly larger decrease of 0.52%. All 9 vehicle segments experienced a decrease in value, with subcompact cars leading with a notable 1.11% drop.
FROM CNBC: Hyundai overtakes GM, but Tesla’s U.S. dominance continues
Tesla maintains its position as the top-selling EV brand, having sold an estimated 336,892 vehicles in the U.S. during the first half of 2023. Hyundai-Kia EV sales rose 11%, reaching 38,457 units, with a strategic focus on increasing leasing rates in an effort to expand their market share.
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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.