The automotive retail industry will face a number of challenges in the year 2024, and many of those will require the use of technology, including local market data, artificial intelligence, machine learning, and automated advertising solutions. The findings are included in ZeroSum's "2024 Automotive Marketing Strategies + Retrospective of the 2023 Market" eBook, which reviews the complexities the automotive industry dealt with in 2023 and provides dealers with a road map to adopt new strategies in 2024.
A new report has been released by ZeroSum today, and you can download it for free by clicking here. 

In 2023, there were unexpected changes within the auto industry, said David Cox, COO of ZeroSum. "Market dynamics such as falling household incomes, high interest rates, and high vehicle prices created a drag on sales." Dealers need to utilize live local market data in order to better understand customer demographics, vehicle preferences, and demand going forward. "There are still millions of customers seeking cars in the market, and dealers must work a little harder in order to find them."
According to the report, the auto industry endured an arduous year of record-high prices on new vehicles, as well as a surge in new vehicle inventory, which led to a stagnant movement on the lot of dealers. As a result of the strike against Detroit's top three automakers as well as the consequences of aggressive EV targets which will require more than half of all new cars sold in 2030 to be electric vehicles (EVs), dealers were faced with further setbacks.. It has become apparent that as dealers have ramped up their EV inventories, customer demand has not kept pace. It has resulted in a glut of EVs sitting on dealer lots as a result of this
It has resulted in a glut of EVs sitting on dealer lots as a result of this
As dealers prepare for 2024, ZeroSum's eBook will offer four key points to keep in mind:
It is expected that dealers will be able to demonstrate strength in their local markets in 2024, as inventories are growing, and the industry will remain extremely competitive as a result of this. There is no time to be quiet right now, a dealer needs to rely on the best market intelligence in order to move more cars than their competitors.
As a leader in software, marketing, and data, ZeroSum is an industry leader. With the help of its SaaS platform, MarketAI, ZeroSum is simplifying and modernizing automotive marketing by utilizing artificial intelligence, data, and scaling capability to acquire new customers while simplifying and modernizing it. In order to increase the efficiency of dealer marketing, ZeroSum is the first and only company to match consumer demand with automotive data in real-time. For more information, please visit ZeroSum.ai.   
Please contact Mike DeVilling at [email protected] if you have any media inquiries.
ZeroSum is the source of the data

Source prnewswire