Lotlinx insights:
McCarthy Auto Group boosts conversions 140% in one month with Lotlinx
Matt Hunnicutt, Advertising Director at McCarthy Auto Group, uses the Lotlinx platform to manage inventory marketing across all twelve rooftops in Kansas City. Lotlinx AI and machine learning technology has decreased the marketing cost per unit, decreased the average days on lot per unit, and increased the number of low-funnel conversions on McCarthy’s vehicle details pages.
Industry roundup:
FROM AUTOMOTIVE NEWS: November U.S. new-vehicle inventories grew to highest level since early spring 2021
In November, U.S. new-vehicle inventory increased by 100,000 to around 2.5 million vehicles, marking the highest level since early 2021. As of December, automakers have an estimated 70-day supply of vehicles, representing an 890,000 vehicle gain from the previous year.
FROM CBT NEWS: U.S. Hybrid cars gain traction as automakers navigate EV transition
Automakers are exploring hybrids to meet demand and regulations, offering a short-term solution for fuel efficiency and emissions. With an average cost of $42,381, automakers are seeing rising consumer demand, with Ford experiencing a 23% increase in hybrid sales in the 2023 year.
FROM REUTERS: How electric vehicles are accelerating the end of the oil age
EVs impact global oil demand, revising peak projections to 103 million per day, with transportation-related demand anticipated to drop by 5 million barrels per day by 2030. Projections indicate that EVs will constitute 40-45% of global vehicle sales by the decade’s end, up from 13%.
FROM COX AUTOMOTIVE: U.S. auto dealer sentiment tumbles in Q4, as continued concerns over interest rates and the economy cloud future prospects
The Q4 current market index dropped to 40, the lowest point since Q2 2020, as franchised dealers’ sentiment fell below 50. The 3-month market outlook hit an all-time low at 41, with interest rates and the economy emerging as the predominant factors hindering business at 65% and 61%, respectively.
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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.