Technology

New Car Inventory Declines (Slightly) for the First Time in Two Years

Published

5 months ago

August 2, 2024

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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Technology

Movate Recognized as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 for Mid-Market Enterprises

Published

1 hour ago

December 24, 2024

BENGALURU, India, Dec. 24, 2024 /PRNewswire/ — Movate, a leading digital technology and IT services provider, has been named a Leader in the Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 for Mid-Market Enterprises. This report by Everest Group, a leading global research firm, evaluates and compares the top providers in digital workplace services, focusing on their vision, capabilities, and market impact.

Movate has been recognized for its innovative Digital Workplace Service Offering, which addresses the evolving needs of modern enterprises with cutting-edge generative AI applications, smart workplace tools, and workplace automation platforms. With a robust portfolio of services across the Digital eXperience Desk, Workplace Engineering, Unified Device Management, Productivity & Collaboration, and AI @ Workplace, Movate has proven expertise and experience in delivering end-to-end workplace solutions. These offerings empower enterprises to transform their workplace experiences, ensuring agility, operational efficiency, and seamless collaboration.

Defined by a persona- and user experience-centric approach, Movate’s Digital Workplace Practice leverages strategic partnerships with technology leaders like Microsoft and ServiceNow to accelerate business outcomes. Its robust ITSM capabilities and innovative smart field support services—including Virtual Genius Bars, smart lockers, and vending machines—demonstrate a forward-thinking, remote-first service delivery model. Additionally, investments in Movate AI, a holistic AI suite for enterprise reinvention at scale, empower clients with advanced capabilities such as automated behavioral analysis, KPI trend insights, smart device monitoring, and proactive problem solving.

Sunil Mittal, CEO at Movate, said, “We are honored to be recognized as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment for 2024. This distinction reinforces Movate’s unwavering commitment to driving innovation, harnessing cutting-edge technology, and leveraging our deep industry expertise to shape the digital workplaces of tomorrow. By focusing on reimagining the employee experience through smart, secure, and AI-powered workplace solutions, we are enabling global enterprises to achieve transformational business outcomes and set new benchmarks in the digital workplace landscape.”

Udit Singh, Vice President, Everest Group, said, “The digital workplace mid-market enterprises have unique demand themes that set them apart from their large counterparts, necessitating distinct sourcing needs that emphasize client management, agility, and cost-effectiveness to stay competitive. To serve these unique needs, providers must refine their offerings and tailor solutions for mid-market clients.

Movate’s persona- and user experience-centric approach to workplace, along with its strategic focus on ITSM capabilities, robust smart field support services, and investment in generative AI solutions, have collectively contributed to its position as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 – Mid-market enterprises.”

For more information on Movate’s recognition in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024, visit: Movate recognized as a leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 (Mid-market enterprises)

About Movate:

Movate is a digital technology and customer experience services company committed to disrupting the industry with boundless agility, human-centered innovation, and relentless focus on driving client outcomes. It helps ambitious, growth-oriented companies across industries stay ahead of the curve by leveraging its diverse talent of over 12,000 full-time Movators across 21 global locations and a gig network of thousands of technology experts across 60 countries, speaking over 100 languages. Movate has emerged as one of the most awarded and analyst-accredited companies in its revenue range. To know more, visit: www.movate.com.

Follow Movate on LinkedIn, Facebook and Twitter.

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Technology

AIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together

Published

2 hours ago

December 24, 2024

TIANJIN, China, Dec. 23, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.

The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.

Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.

Later, the dealers joined AIMA Technology‘s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.

This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.

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SOURCE AIMA Technology

Technology

AIMA Technology Group to Unveil Seven New Electric Mobility Products at CES 2025 and Partner with Italian Brand to Set New Industry Standards

Published

2 hours ago

December 24, 2024

LAS VEGAS, Dec. 23, 2024 /PRNewswire/ — AIMA Technology Group will debut seven new electric mobility products at CES 2025, catering to diverse consumer needs, from urban commuters to adventure seekers. Each product will showcase AIMA Technology Group’s signature blend of futuristic design, smart technology, and eco-conscious engineering, further advancing sustainable electric mobility.

AIMA Technology Group will also unveil its strategic partnership with a top-tier Italian brand at CES 2025, merging luxurious aesthetics with superior performance to set a new standard in the electric mobility industry. This collaboration will redefine luxury and practicality in electric mobility, establishing a new benchmark for the industry.

AIMA Technology Group’s global expansion is accelerating, having already covered over 50 countries, with a cumulative sales volume exceeding 80 million units by 2023. The showcase at CES 2025 will further strengthen AIMA Technology Group’s leadership in the global electric mobility market.

During CES 2025, AIMA Technology Group will hold a media reception on Tuesday, January 7th at 10:30 AM (Pacific Time) to showcase its new product lineup. On January 8th at 11:00 AM, AIMA will unveil the mysterious limited-edition concept new product at the CES booth, redefining the future of mobility. We invite you to join us in discovering this groundbreaking innovation. Booth location: Las Vegas Convention Center, North Hall, Booth #10947, showcasing our latest innovative achievements.

AIMA Technology booth: Las Vegas Convention Center, North Hall, Booth #10947.

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SOURCE AIMA Technology