Lotlinx, a VIN-specific data company for dealership inventory management, has introduced its Quarterly Vincensus Report. This report is a comprehensive monthly/quarterly inventory analysis tool that provides insights into OEM-specific and dealership inventory trends for new and used vehicles, including data on pricing and markdowns.
The Vincensus Report serves as a benchmarking tool for dealers, showing how each OEM performs relative to industry standards. It offers visibility into buyer demand and tracks inventory changes monthly/quarterly, helping dealers gauge their performance against competitors and make informed decisions based on market trends.
According to data from the inaugural report, at the end of the first quarter, the inventory of new cars was 80 days ahead of demand. Additionally, the report uncovered the following results:
- 48% were classified as aged (lasting more than 45 days).
- 50% were carried over from the previous quarter.
- 19% were sold at a discount.
- 63% were labeled as unviewed online.
Moreover, Lotlinx created the Vincensus report using improved machine learning models over the last ten years. They utilized Lotlinx’s proprietary Lexaca data, the largest inventory-specific data set with over 24 billion data points.
Dealerships can use Lexaca’s complete market and competitive data for every vehicle on the lot to inform strategy and decision-making for any VIN or vehicle segment. The bot derives the input from over ten years of historical data that tracks over 160 market parameters that impact each VIN on every dealer lot in the U.S.
“In today’s auto dealership landscape, real-time data and insights for new and used OEM-specific inventory are paramount,” stated LotLinx Executive Chairman Len Short. “By leveraging our new Vincensus quarterly and monthly reports and staying informed on the trends shaping inventory, pricing, and markdowns, auto retailers can swiftly adapt and make informed decisions. This visibility enables agile responses to local and tier-two market changes, optimizing inventory management, pricing strategies, and ultimately, driving a distinct competitive advantage in the dynamic automotive market.”
To read the entire Lotlinx Vincesus Report, click here.
