Lotlinx Weekly News Vol. 247: New year, new news!

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.  

Read More

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.  

Read More

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.  

Read More

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. 

Read More

Enjoyed this roundup? Subscribe to LotLinx News for weekly automotive industry-updates direct to your inbox.

Want more top headlines? Catch up on past editions of LotLinx News.

Take your dealership to the next level.

It’s your dealership. Control it with Lotlinx.

Request Demo