What trends are impacting your dealership’s profitability?
The EV inventory conundrum has introduced several trends currently shaping the market’s trajectory. As consumer demand shifts and unsold inventory accumulates, this webinar investigates 3 major trends and their implications for dealership profitability.
- Understand the three prevailing trends affecting the market:
- Rising EV inventories
- Automakers’ uncertain EV strategies
- Divergence from predicted shopper demand
- Gain insights into how these trends will influence your dealership’s profitability
- Formulate a solution by leveraging VIN-specific marketing technology
FROM CBT NEWS: New and used car payments break more records in Q3
Monthly payments in Q3 for new cars rose to an average of $736 from $554 per month in 2019. Used car down payments hit a record high of $4,111, prolonging affordability and financing challenges in the automotive industry.
FROM CAR AND DRIVER: The 25 best selling cars, trucks, and SUVs of 2023 (so far)
Major automakers, like Ford, GM, Toyota, and Honda, have witnessed rising sales compared to previous years. The Ford F-Series led the way with a 23% annual sales increase, reaching 573,370 units sold.
FROM BUSINESS INSIDER: GM is shaping up to be the hardest hit by the UAW strike
The strike at three, nearly four, GM factories has cost over $200 million and 31,000 lost vehicles of production, surpassing Ford’s 19,000 and Stellantis’ 17,000. The pressure for a stronger UAW contract intensifies industry-wide pressure, potentially reshaping the industry’s competitive landscape.
FROM REUTERS: GM, Canadian union reach tentative agreement, ending strike
GM and Canadian union Unifor reached a tentative agreement within 12 hours of the 4,300 worker strike. The agreement features a 25% wage hike, aimed to avert further challenges for GM amid the UAW strike.
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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.