Lotlinx Industry Survey Reveals Only 12.6% Of Auto Dealers Leverage Analytical Data To Make Inventory Management And Vehicle Price-Setting Decisions
DETROIT, April 2, 2024 /PRNewswire/ -- Lotlinx, the auto industry's leading VIN-specific data company for dealership inventory management, announced today results from its Automotive Retail Industry Pulse Survey to better understand where automotive dealership professionals are facing challenges with managing vehicle inventory and to take the pulse on the use of artificial intelligence (AI) and machine learning (ML) to help mitigate inventory risk. Click here to see the full survey results infographic.
- Lotlinx presented an online survey to more than 2,500 automotive dealer professionals during March.
- According to the survey results, only 12.6% of dealers said they are leveraging sophisticated analytical data to monitor days on the lot, combined with segment type, used or new, and other local inventory levels of similar vehicles.
- "These results tell us that auto dealers can no longer rely on manual methods, industry experience, and overall 'gut instinct' to manage inventory and determine pricing," said Jason Knight, CEO of Lotlinx.
- Click here to see the full infographic and for more information on how Lotlinx's SENTINEL platform is helping dealers mitigate inventory risk, please visit www.lotlinx.com/sentinel/ .