Automotive dealership data study identifies the most (and least)
efficient vehicles to sell in Q1 2024, by make and model.
PORTLAND, Ore., May 7, 2024
/PRNewswire-PRWeb/ -- A Foureyes study of U.S. automotive
dealerships identified how many leads dealers received on average
per new vehicle sold in Q1 2024.
"We published this data for dealers to use
when it comes to their marketing, pricing, and other inventory
strategies," -- David Steinberg, CEO
of Foureyes
By analyzing the volume of leads generated per sold VIN across
new 2023 and 2024 models, the study found dealerships received 3.5
leads on average per sale from January 1,
2024 to March 31, 2024.
"We published this data for dealers to use when it comes to
their marketing, pricing, and other inventory strategies," said
David Steinberg, Foureyes founder
and CEO. "It's data dealers can directly apply to their
decision-making and processes to gain a competitive jump."
The study analyzed the lead-to-sale data to determine an
"efficiency" metric across makes and models. The full report can be
found here.
Atop the list of the least efficient vehicles to sell by make
were Chrysler (receiving 5.4 leads on average), Dodge (5.2), and
Land Rover (5.2). Meanwhile, Nissan (2.8), Subaru (2.9), and MINI
(3.0) had the most efficient ratios.
Leads per VIN sold by make:
- Chrysler (5.4)
- Dodge (5.2)
- Land Rover (5.2)
- Audi (5.1)
- INFINITI (4.5)
- Jeep (4.1)
- RAM (4.1)
- Acura (3.9)
- Volkswagen (3.9)
- Mercedes-Benz (3.7)
- Lexus (3.6)
- Ford(3.6)
- Chevrolet (3.5)
- GMC (3.4)
- Hyundai (3.4)
- Kia (3.4)
- Honda (3.4)
- Buick (3.4)
- Cadillac (3.3)
- Mazda (3.3)
- Mitsubishi (3.2)
- BMW (3.2)
- Toyota (3.1)
- Mini (3.0)
- Subaru (2.9)
- Nissan (2.8)
Looking at the least efficient vehicles to sell by make + model,
two EVs were atop the list -- the Volkswagen ID.4 (6.9 leads per
sale) and the Hyundai Ioniq 5 (6.2). Of the remaining top 15 least
efficient vehicles, multiple models appeared from each of Jeep,
Dodge, RAM, and Kia.
See the top 40 LEAST efficient vehicles to sell here.
Conversely, the most efficient make + models were largely from
Nissan, Toyota, Hyundai, Subaru, Ford, and Kia. The Nissan Sentra
(2.0 leads per sale) was found to be the most efficient vehicle to
sell, followed by the Ford Edge (2.3), Kia Soul, (2.3), and Nissan
Kicks (2.5).
See the top 40 MOST efficient vehicles to sell here.
"While the study presents this make and model data as a measure
of 'efficiency,' Foureyes recognizes multiple factors are actually
in play here," said Steinberg. "For example, are these vehicles
actually harder to sell, or do some simply garner more attention
because they're desirable and innovative? In the end, we simply
wanted to show dealers what they can generally expect."
About Foureyes
Foureyes is sales assistant software that works alongside
dealership teams. It uses data to help dealerships tackle the
legwork between lead creation and sales so people can close more
deals.
Media Contact
Matt Inda, Foureyes, 1
888-509-3629, matt.inda@foureyes.io, www.foureyes.io
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SOURCE Foureyes