Lotlinx insights:
Just because the industry is continuing to shift, it doesn’t mean your dealership can’t grow and move inventory.
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Industry roundup:
FROM AUTO REMARKETING: Strike brings return of wholesale price seasonality
The ongoing UAW strike is causing market uncertainty, but buyers are returning to the market, boosting auction conversion rates despite declining prices. Wholesale vehicle prices saw a 0.36% decline, spiking the average weekly sales rate to 56%.
FROM AUTOMOTIVE NEWS: Will EV tax credit transfers be seamless or clunky for car dealers?
Beginning January 1st, dealers will receive tax credit reimbursements for new and used EVs within 72 hours of sales. Although aimed to make EVs more affordable for consumers and encourage the adoption of EVs, concerns regarding the complexity and lack of awareness of the reimbursement process linger.
FROM COX AUTOMOTIVE: Another quarter, another record: EV sales in the U.S. surpass 300,000 in Q3, as Tesla share of EV segment tumbles to 50%
Year-to-date EV sales surpassed 873,000, compromising 7.9% of Q3 industry sales. Audi, BMW, and Mercedes tripled their Q3 EV sales compared to the previous year, while Ford now ranks second to Tesla with over 20,000 Q3 EV sales.
FROM REUTERS: Automakers blast U.S. plan to fuel hike efficiency rules
Major automakers criticize the administration’s fuel efficiency proposal, stating it would raise 2032 vehicle prices by $3,000 due to costly technology investments. The potential $14 billion in non-compliance penalties adds to the financial strain and uncertainty the proposal introduces.
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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.