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LotLinx Weekly News Vol. 122: Power to the AI

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This week’s auto advancements give kudos to the businesses keeping the industry on track. Plus, some positivity from major OEMs and intel on new car price trends.

 

FROM AUTO REMARKETING: Power 300

This year’s Power 300 list outlines the companies and services dealers and industry professionals have relied on to maintain success during these uncertain times.

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FROM BLOOMBERG: Cheap Cars Disappear, Relegating Entry-Level Buyers to Used

Models under $20,000 make up only 1.3% of new vehicle sales as their slim profit margins no longer justify the cost of keeping them in stock. First-time shoppers are now being directed to attractive, off-lease models to fit their tightening budgets.

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FROM CBT NEWS: Carmakers Remain Hopeful Despite Disappointing Q2 Sales Results

Despite seeing Q2 sales declines over 30%, major U.S. automakers are proud of the progress they’ve made in recent months. Ford, GM, and FCA continue to focus on streamlining operations while prioritizing employee safety and in-demand model production.

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FROM WARDSAUTO: Auto Loans, Lease Deals Down 12.7% in Q2

Second quarter auto loans totaled nearly $135.9 billion, with subprime borrowers having the largest year-over-year decline in lease originations – a sign that auto consumers are still recovering from this year’s economic impacts.

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