Lotlinx Weekly News Vol. 297: Getting ready to put a wrap on Q4?

Lotlinx insights:

Get ready to experience the Lotlinx Effect

As the highly anticipated NADA Show 2024 draws near, Lotlinx stands ready to elevate your dealership to the next level. Immerse yourself in innovation as we demonstrate our advanced AI-powered technology to move cars faster, increase daily shopper actions, and move sell rate to extraordinary levels. Don’t miss out – get ready for your most memorable NADA yet!

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Industry roundup:

FROM CBT NEWS: Used vehicle market held course in November, sales and prices weaken

Used-vehicle inventory at the start of December increased by 2.4% to 2.36 million units, with a days’ supply of 52. The average listing price dropped to $26,091, reflecting a steady decline in prices since mid-summer and lower wholesale prices, impacting retail costs for consumers.

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FROM COX AUTOMOTIVE: New-vehicle affordability improved to best in two years

New-vehicle affordability improved in November, reaching the best level in over two years. The typical payment decreased by 0.1%, with the estimated weeks of median income needed to purchase the average new vehicle down 5.2% from last year.

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FROM REUTERS: U.S. rules could force early production halt to some gas vehicles

Major automakers such as GM, Toyota, and Ford caution that the Biden administration’s ambitious plan for 67% EVs by 2032 could prematurely halt gas-powered vehicle production. The proposed rules could impact the pace of automotive electrification and raise concerns about the industry’s ability to fund the EV transition.

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FROM WARDS AUTO: What lies ahead for the auto industry in 2024

The automotive industry in 2024 is marked by fierce competition driven by global factors, with predictions indicating a race to develop advanced, secure vehicles amidst market pressures. Key focus areas include the imperative for shorter automotive development cycles and the rise of new entrants in chip design.

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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. 

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