LotLinx Weekly News Vol. 246: Putting 2022 in the rearview mirror

FROM COX AUTOMOTIVE: 10 predictions for 2023

According to analysts, many of 2022’s industry-wide trends will continue on throughout the new year: rising inventory levels, depreciating used vehicles, issues with affordability, and approximately 14 million new units sold. How will your resolutions tackle these trends in 2023?

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FROM CBT NEWS: 10 retail trends that will shape the industry in 2023

In the new year, proactive dealers will need to navigate changes to the sales process, such as online retailing breakthroughs, subscription services, and new opportunities for upsells. Plus, data will be more important than ever as a tool for operational control.

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FROM BUSINESS INSIDER: 2022 was the year automakers figured out how to make electric cars really work

This was a banner year for the electric vehicle movement. EV sales surpassed 5% of the U.S. automotive market, a significant milestone for global EV adoption. Government legislation, major mergers, and multi-billion dollar investments also solidified support for expansion in the space.

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FROM AUTOMOTIVE NEWS: The top stories of 2022

2022 was a year filled with a number of interesting challenges and changes. While turbulent in its own right, it was the first year that the industry stepped out of the shadow of the COVID-19 pandemic and into a new era of automotive. Revisit all of the year’s top highlights one more time.

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