Lotlinx Weekly News Vol. 286: Rising sales lift all OEMs…but one.

Lotlinx insights:

Lotlinx Named Auto Dealership Technology of the Year by AutoTech Breakthrough

PETERBOROUGH, N.H., Oct. 4, 2023 /PRNewswire/ — Lotlinx, the auto industry’s leading VIN-specific data solution for inventory management, has been named “Auto Dealership Technology of the Year” by AutoTech Breakthrough.

The award-winning Lotlinx VIN Manager is an interactive precision retailing platform that delivers customized business tools to dealers to help them reduce inventory risk, increase profits and better serve customers. Using predictive technology, Lotlinx helps dealers customize inventory and target marketing spend to sell more cars at higher margins. By automatically detecting at-risk VINs, dealers can focus advertising spend on VINs that need it most.

Read the full release

Industry roundup:

FROM AUTOMOTIVE NEWS: Market comeback continues; major automakers post double-digit Q3 sales gains

Light-vehicle sales grew 18% in the third quarter, with most OEMs seeing double digit gains. Stellantis was the only major manufacturer to see a sales decline throughout the same period, -1.3%. In September alone, Honda and Subaru led the pack toward a collective 21.9% sales increase.

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FROM REUTERS: GM locks in $6 billion credit line as strike costs rise

According to the OEM, the strike has already resulted in a loss of $200 million. Now in its 20th day, GM is joining Ford in securing a multi-billion dollar line of credit to bolster its bottom line against long-term production shutdowns.

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FROM U.S. NEWS: The changing geography of the U.S. auto industry

The automotive industry makes up 1.7% of the nation’s workforce, and the manufacturing sector makes up 23% of all industry employment. The Midwest is still the hub of most automotive manufacturing, however the UAW strike has impacted factories in nearly 20 states across the country.

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FROM WARDSAUTO: BEV focus moves to forefront in UAW talks

The UAW strike now hinges on the future of battery-electric vehicles. While many of the battery plants in question won’t be built for years, the union wants to ensure the transition to EV manufacturing does not cut into available jobs and employee wages.

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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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