Selling Conditions Remain Competitive Across New, Used, and
Certified
GRAND
RAPIDS, Mich., Aug. 2, 2024
/PRNewswire/ -- ZeroSum, an automotive retail agency that provides
cutting-edge inventory-based digital marketing solutions tailored
to dealers, has released its August State of the
Dealer report, its up-to-date and forward-looking assessment
of the new, used, and certified automotive market. The State of the
Dealer report strives to address the question of whether it is
going to get harder or easier for dealers to sell a vehicle in the
next 30 days. The near-term answer is "about the same", but that
means that dealers should keep a close eye on vehicle pricing and
make sure their inventories are visible and accessible to consumers
in order to stay competitive.
New vehicle inventory dropped slightly in July. While the
decline was small, it is the first time that supply has fallen off
(other than seasonal drops in January) since June 2022.
Vehicle movement, while a bit volatile from month to month, has
generally stayed in a narrow range over the past year. The
forward-looking 30-day forecast indicates that this trend will
continue in August.
New vehicle marketed prices have flattened over the past three
periods (now at $50,544) as Market
Adjustments (which measure marketed discounts and incentives below
MSRP) continue to rise.
"We've been anticipating that the supply picture would settle
into a 'new normal' range, and that appears to be playing out,"
said Jeff Englishmen, Vice President of Dealer Success at ZeroSum.
"While the gains in inventory may be slowing, other metrics like
days-to-move are still pointing to a challenging sales environment
and therefore to a need to stay competitive by marketing vehicles
aggressively."
Used vehicle supply and demand remain relatively static and
range-bound, and the 30-day movement forecast points to a
continuation of that trend.
"Used car dynamics have been more stable than on the new side,
but the two market sectors definitely affect one another," said
Englishmen. "The used vehicle selling environment will continue to
contend with a healthy new vehicle supply picture going forward,
and dealers would be wise to highlight their used vehicle inventory
accordingly."
Click here to download ZeroSum's entire August State of the Dealer Report, including
vehicle movement, turn rate, days-to-move, inventory, and pricing
trends for new, used, and certified vehicles.
About ZeroSum
ZeroSum is an industry leader in software, marketing, and
data. Powered by its SaaS platform, MarketAI, ZeroSum is
simplifying and modernizing automotive marketing by leveraging
artificial intelligence, data, and scaling ability to acquire new
customers. ZeroSum is the first and only company that matches
consumer demand with automotive data in real-time for dealer
marketing efficiency. For more information,
visit www.zerosum.ai
For media inquiries, please contact:
Jennifer Haun
jhaun@zerosum.ai
Mike DeVilling
mdevilling@zerosum.ai
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SOURCE ZeroSum