Lotlinx analysts say new vehicle sales and supplies improved in a third quarter marked by a run on new EVs while a growing need to clear out 2025 units could produce an incentive-rich Q4. +
CarGurus dealers now have access to PriceVantage, a new tool designed to use machine learning to deliver pricing recommendations based in part on shopper behavior and inventory datasets. +
Cars.com announced the launch of Carson, a new, AI-powered search tool that allows consumers to submit conversational queries and already boasts a 30% higher conversion rate. +
Edmunds reports the average transaction price for a U.S.-sold pre-owned vehicle increased by 5% to $31,067 in the third quarter, accompanied by a four-day uptick in lot times. +
The Michigan Department of State briefly suspended LaFontaine Chevrolet’s license after accusing the store of selling “new” vehicles that don’t qualify as such under state law. +
Automotive News reports U.S. new vehicle sales registered a 1.2% overall improvement in October despite waning EV demand, led by increases for Toyota, Ford, Honda and Kia. +
Lotlinx has launched LotGPT, a new AI chatbot designed to serve as a personal dealer advisor, backed by historic VIN-level and shopper data and billed as an industry first. +
NADA analysts say waning demand and affordability issues are depressing sales team earnings, Nevada leads the nation in average payroll and bigger dealers continue to gain market share. +
Presidio and NCM analysts say Q3 net pretax profit metrics varied wildly among domestic, import and luxury dealers in a report skewed by EV sales and echoes of the CDK Global outage. +
Kelley Blue Book reports the average transaction price for a U.S.-sold new vehicle exceeded $50,000 for the first time in September despite increased incentive spending. +
