In the competitive world of automotive sales, data is king. We say this a lot, but it's true!
In the digital age, data is king. Whether you're a business owner, a marketer, or a data analyst, understanding the performance of your market and your initiatives is crucial. That's where reporting tools come into play. They help you make sense of data, transforming numbers and metrics into actionable insights. With several options of reporting tools available, how do you choose the right one? This guide will walk you through the essential considerations to help you make an informed decision.
In the competitive automotive industry, having access to precise and actionable market data is crucial for dealerships, media companies, and auto lenders. Cross-Sell, a leader in vehicle data reporting, offers comprehensive insights through their platform, Cross-Sell Interactive®. Here’s how you can benefit from their services:
Comprehensive Market Insights
Customized Reports: Tailor your data reports to specific needs with the DIY report generator. Whether it’s electric vehicle sales or top-performing zip codes, you have the tools to create the most relevant reports for your business.
Snapshot View: Quickly visualize your local market with the Snapshot feature. Understand the competitive landscape with details on top dealerships, best-selling makes and models, and high-performing areas.
Advanced Mapping and Analysis
Heat Mapping Tools: Identify and analyze the hottest selling areas in your market. The heat mapping feature allows you to drill down into competitive zip codes, helping you pinpoint growth opportunities.
Custom Mapping: Build custom market areas for a more targeted analysis. This feature gives you an aerial view of top-selling regions tailored to your specific business needs.
Growing Database and Industry Coverage
Cross-Sell’s database covers 35 states and includes data from major markets, continuously expanding to provide more comprehensive coverage. This includes data on new players in the market, such as Lucid and Rivian, enhancing your competitive edge with the latest market trends.
Dealer Scorecards and Market Analysis
Dealer Scorecard: Monitor your market ranking and track year-over-year performance. This tool helps you stay ahead by providing insights into your top competitors.
Market Analysis: Stay on top of short-term trends and market movements with in-depth analysis tools. Click through data points for detailed insights that can drive strategic decisions.
Flexible Data Packages
Cross-Sell offers several data packages to meet various business needs, from starter plans with basic data features to premium packages with advanced market analysis and reporting tools. Custom report packages are also available to ensure you get the exact data you need.
Get Started with Cross-Sell
Unlock the potential of your automotive business with detailed, actionable market data. Visit https://www.cross-sell.com/pricing to explore our data and reporting options and request a custom quote tailored to your business needs.
Stay ahead in the competitive automotive market with the precise data insights provided by Cross-Sell Interactive®. Whether you are looking to understand local trends, identify new opportunities, or gain a competitive edge, Cross-Sell has the tools you need to succeed.
The integration of big data, artificial intelligence, and real-time analytics is revolutionizing how dealerships approach problem-solving and strategic planning. Importance of efficient decision-making in car dealership environments, where the speed and accuracy of decisions can significantly impact a company's competitive edge, businesses must be agile and responsive, leveraging data-driven insights to make informed choices quickly.
Although used-car sales were down slightly in 2023 (35.9 million) from 2022 (36.2 million), the year ended with used-car sales surpassing the initial forecast. Looking into 2024, predictions are set for around 36.2 million overall used-car sales, which is an increase in sales from 2023, despite lingering supply challenges.
In a bid to attract more customers, Ford is ramping up production of its three-year-old F-150 hybrid while simultaneously slashing its price by $1,900. This move brings the hybrid model in line with its full-gasoline counterpart and makes it nearly 10% more affordable than the all-electric version introduced last year. With ambitious plans to quadruple hybrid sales over the next five years and incorporate the technology across its entire lineup, Ford is demonstrating its commitment to meeting customer demands.
As we dive into the second half of 2023, let's take a look at how vehicle sales and trends shaped up in the first half. Consumer preferences in the automotive industry have undergone a significant transformation towards used vehicles and electric vehicles (EVs). Factors such as economic uncertainties, technological advancements, and growing environmental concerns have all contributed to reshaping the overall landscape of the automotive market.
As we approach mid-year 2023, the growth of electric vehicles (EVs) continues to be a hot topic in the automotive industry. Prices of EVs are beginning to decrease, becoming more in line with the cost of traditional gas-powered vehicles. As technology continues to improve and production costs decrease, we can expect to see more affordable EVs in the future. This is already taking shape as we see many OEMs increasing their EV market share since January.