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"Lotlinx Q2 Vincensus"

We are pleased to present you with the 2024 Q2 Vincensus Report which is the most comprehensive monthly inventory report in the industry. This report was developed using Lotlinx’s proprietary Lexaca data, the largest inventory-specific data set with over 24 billion data points, that leverages machine learning models that have been evolving for the past 10 years.

While the CDK Global hack significantly impacted June’s sales, sales rose by 10% for new vehicles and held steady for used vehicles QoQ. The market for new cars shows signs of potential oversupply and softening demand. Inventory levels and sales are both up, but day supply is increasing and demand is decreasing, which could lead to an increased imbalance if the trends continue. Overall, the market conditions from Q1 to Q2 indicate caution, with potential oversupply issues in the new car market and stable yet slightly softening conditions in the used car market.

 

New Vehicles:

• Inventory levels continued to climb QoQ and YoY causing day supply to increase by 4 days and 29 days respectively to 72 days.
• Listing prices remained steady QoQ but fell by 10% YoY.

Used Vehicles:

• Used vehicle metrics held fairly steady QoQ with the exception of aged inventory, which increased by 7%, and carryover that dropped by 9% coming into the start of the quarter.

Recommended action steps for upcoming months:

• Scrutinize Your Inventory Daily And Recapit Weekly.
• Carefully plot out a markdown strategy and make sure are reviewing other dealers pricing in the market for markdown guidance.

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