New inventory grew by 9% causing day supply to increase to 76 days, 24 days higher than last year. This rise is partly due to more 2025 models arriving on lots, while unsold 2024 models pose a growing risk for dealers. Prices for gas units continue to rise even as consumer affordability remains a focus….
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As the summer demand wave receded, September marked a cooling in both the new and used vehicle markets. New vehicle demand saw a slight drop of 2% MoM, while used vehicle sales experienced a steeper decline of 10%. The easing demand, coupled with increased inventory, led to a slight rise in vehicle day supply for…
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The market showed stabilization in new car pricing but could see more aggressive discounting strategies to manage inventory levels. Aging concerns YoY were still very much present as aged inventory increased by 11% and day supply increased by 25 days YoY. While some recalls and supply chain issues affected specific model sales, the overall market…
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The used car market has been a rollercoaster ride in recent years, influenced by factors like the pandemic, supply chain disruptions, and rising interest rates. As we look into 2025, learn the potential used car inventory trends that could shape the sector. January 2025 Used Car Market Forecast Inventory Used car inventory remains tight While…
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It’s common knowledge that the holiday season is a prime time for car buyers, making it a busy period for dealerships. However, not all days and weeks within this festive window are the same. According to MarketWatch, “the best time to buy a car is from October through January 1, with December as the standout.”…
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🗞️ Industry roundup: FROM WARDSAUTO: Retail ride still bumpy, but good news is ahead November 2024 marked strong new-vehicle sales, with a 6.7% YoY increase and consumer spending reaching nearly $50 billion, a record for the month. However, rising inventory levels and deeper discounts have driven down average transaction prices and dealer profits, with per-unit…
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November has been an important month for the automotive inventory market as dealers and manufacturers strive to balance supply and demand amidst various economic and technological challenges. The post-cyber breach landscape is stabilizing but has left a big imprint on how inventory data is managed and reported. This reset in operations provides the backdrop for…
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As the temperatures plummet and Q4 comes to a close, automotive dealerships need to do a little “winter cleaning.” Of course, this means clearing out the lots by targeting slow-moving vehicles. Any good operation knows that inventory management directly correlates with the success of the dealership. Still, even the most efficient staff can encounter hurdles…
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🗞️ Industry roundup: FROM J.D. POWER: Inventory and pricing drive gains in sales satisfaction but other areas have modest improvement, J.D. Power finds Customer satisfaction with the vehicle purchase process rose to 801 on J.D. Power’s 1,000-point scale, up from 793 last year, according to the 2024 U.S. Sales Satisfaction Index (SSI) Study. Improved inventory…
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Located in rural Kentucky, Pogue Chrysler is a destination store for its shoppers, and generating demand from a distance is a challenge. General Manager Alex Pogue tested dozens of vendors and agencies before trying the Lotlinx VIN-specific platform. Pogue and General Sales Manager Nate Ellison saw immediate results for both new and used inventory, increasing…
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