Fundamental indicators continue to show challenges as travel days increase and pricing pressures continue
Grand Rapids, Michigan, February 2, 2024 /PRNewswire/ — ZeroSum State of the Dealer Report is the first major data source for the new, used and certified pre-owned vehicle markets.
ZeroSum's January data shows stable supply and demand conditions across new, used and certified products, despite challenges in travel days and price metrics. These factors continue to result in more competitive sales dynamics than when inventory was not available. New car inventory decreased month-on-month from 2.65 million units in December to 2.53 million units in January. The number of vehicles moved fell to 1.03 million (from 1.1 million in December), and Zero Sum forecasts that February's level will fall further to 1.01 million.
“January numbers always represent a breather after year-end support, and this year is no exception,” said Jeff Englishman, vice president of dealer success at Zero Sum. “Beyond January, inventories will likely continue to rise in the first quarter, and flat demand will continue to put pressure on prices and sales cycles. However, market conditions will solidify from here. A new equilibrium appears to be beginning. ”
Used car inventory remained almost flat for the fourth consecutive month at 1.91 million units. The number of vehicles moved increased to 1.18 million from 1.1 million in December, but Zero Sum predicts that the number of vehicles moved in February will return to 1.12 million, which is what we have seen from used vehicles in the past few months. within the same narrow range.
“Dealers will be able to take appropriate steps to remain competitive in this market,” he said. dave cox, COO of ZeroSum, “As prices drop, days in transit are increasing for both new and used inventory. Accurate live VIN intelligence is therefore essential to reading local markets and driving demand. .Dealers need the right information.''It's like marketing support for the right vehicle. ”
ZeroSum serves as a critical resource for auto dealers, providing essential data on demand and supply trends, providing unprecedented insight into inventory and 30-day forecasts on vehicle movement. State of the Dealer answers the question every car dealer is wondering: “Will it be harder or easier to sell a car next month?”
Click here to download ZeroSum's complete February State of the Dealer report, including vehicle movements, turnover rates, days on the road, inventory, and price trends for new, used, and certified vehicles.
About zero sum
ZeroSum is an industry leader in software, marketing, and data. ZeroSum leverages its SaaS platform, His MarketAI, to simplify and modernize automotive marketing by leveraging artificial intelligence, data, and augmented capabilities to acquire new customers. ZeroSum is the first and only company to match consumer demand and vehicle data in real-time to improve dealer marketing efficiency. For more information, please visit www.zerosum.ai.
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