Lotlinx Weekly News Vol. 255: Time to dust off your incentives?

FROM AUTOMOTIVE NEWS: Hyundai, Kia, Subaru sales advance 7th straight month; Toyota slips

Analysts predict that light-vehicle sales have increased anywhere from 3.9% to 7.2% throughout the month of February. These predictions are the result of significant inventory growth, a minimal increase in average transaction prices, and a 9% increase in incentive spending.

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FROM BUSINESS INSIDER: Car buyers rejoice: Discounts are making a comeback

Pre-COVID, it was common to see new-vehicle discounts around 12% of the average transaction price. Today, that number is closer to 2.85%, or $1,297, with luxury vehicles seeing incentives over 6% and in-demand SUVs seeing between 3% and 4%.

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FROM WIRED: The Amazonification of buying a new car

Data shows that nearly all consumers interact with at least one ecommerce tool while shopping for a new vehicle. But, the ease of online buying also introduces a new set of hurdles, like delivery, pricing, and website maintenance, that OEMs and dealerships must account for to maintain customer satisfaction.

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FROM NADA: NADA celebrates women during women’s history month

Women make up only 20% of employees at franchised dealerships, but their impacts on the industry are staggering. The National Automobile Dealers Association will be shining a light on women’s stories all month in order to promote growth within the field.

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