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Industry roundup:
FROM AUTOMOTIVE NEWS: EV transition slows as inventory grows and industry hits hurdles
Automakers are reassessing their EV launch timeliness after a plateau in EV sales due to slow demand, range anxiety, and installation costs. As of September, the average EV transaction price was $50,683, $3,000 higher than gasoline vehicles, further slowing EV adoption.
FROM AUTO REMARKETING: Used-car retail prices not likely to soften much further
The retail used-car market is leveling off, with pickup truck and luxury SUV prices declining by $400 month-over-month, while other segments saw declines of $100. The used commercial vehicle market saw slowing sales but remains ahead of year-ago figures.
FROM CAR AND DRIVER: Most popular cars in every state
A recent survey shows pickup trucks are the most favorable vehicle in 32 U.S. states, with the Ford F-150 being the most popular in 20 states. Only a mere 3 states favor sedans, with the rest leaning towards SUVs or crossover vehicles.
FROM BUSINESS INSIDER: The UAW strike is over after 46 days. Here are the details of their contract that will leave some workers making up to $42 an hour
The 46-day UAW strike concludes with agreements at all major Detroit automakers, securing substantial pay raises of up to 25% with ongoing increases until April 2028. These negotiations were influenced by challenges in EV manufacturing and competition with non-unionized competitors.
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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.