FROM AUTOMOTIVE NEWS: GM reclaims U.S. sales crown; Toyota edges up; Hyundai, Kia post double-digit gains to finish 2022
Fewer than 14 million light-vehicle units were sold in the year 2022 – the lowest recorded sales volume since 2011. Despite the yearly decline, GM bested Toyota as the country’s top-selling automaker after a 41% volume increase in the fourth quarter.
FROM BLOOMBERG: Inflation won’t stop 2023 auto sales growth amid chip recovery
Analysts believe that anywhere from 4 to 7 million consumers have been deterred from buying vehicles over the last two years. Because of this demand and rebounding inventory levels, sales could grow to 15 million units throughout 2023.
FROM WARDS AUTO: More inventory tops dealers’ wish lists for the new year
80% of dealers met or exceeded their profit objectives in 2022, and 91% are confident or overly confident they will do so again in 2023. However, over 50% of dealers agree that the inventory shortage had and will continue to have the greatest impact on their sales over any other dealership difficulty.
FROM CBT NEWS: New to automotive marketing analytics? These 3 options can help you get startedo
Industry experts believe that utilizing dealership data and analytics will be essential to navigating 2023. Software, online tools, and working with consultants are all key ways to get the most out of marketing efforts.
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