Lotlinx Weekly News Vol. 249: The only constant in automotive is change

FROM BUSINESS INSIDER: The pandemic may have ended the auto industry’s age-old battle for market share

2022 showed the industry that profits can remain high even if sales volumes are low. After decades of competing for market share, major automakers like GM and Ford are getting used to a more level playing field, commanding only 16.3% and 13.3% of the market respectively. 

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FROM MARKET WATCH: Car inventory is growing, sales are down—dealers may soon need to offer discounts

New-vehicle supply is up over 60% year-over-year, with Buick and Stellantis brands holding the highest levels of inventory. If car prices remain close to the $50k mark and the average sales pace stays low, the need for traditional inventory discounts could be on the horizon. 

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FROM CNBC: Carmakers upgrade lineups to meet high-end demand, scale back on less expensive cars

If rising prices weren’t enough, today’s car shoppers are keen to spring for add-ons and upgrades. Safety, technology, and design upgrades can increase the price of a vehicle by nearly 40%. The fact that consumers are paying these prices only incentivizes automakers to continue expanding their offerings.

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FROM NADA: The auto industry event of the year is next week

Heading to NADA next weekend in Dallas? Attend live speaking sessions, explore over 500 exhibitors on the expo floor, and stop by the biggest networking events of the year.

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