With health and safety as our top priority, the Cox Automotive family of brands is also committed to partnering with clients to keep the automotive marketplace up and running. Current offers and solutions for each of our brands can be accessed below.
I wanted to provide an update for the month of June to the Cox Automotive Retail Solutions COVID-19 Assistance Program. As the initial impact of COVID-19 was being felt, Cox Automotive announced a 50% discount on our Retail Solutions Dealer Subscription Product fees for the months of April and May. As we work our way to a recovery as a country and an industry, it is critical to focus on driving consumers back to your showrooms and virtual properties. For that reason, Cox Automotive is offering a 25% discount on Autotrader Subscription Listings fees for the month of June 2020.
Furthermore, I hope you will take advantage of the following product enhancements and limited-time free offers. These have been developed to give you the extra virtual and online functionality that consumers expect and dealers are finding vital to their operations:
Limited-Time Free Offers
Please visit the Cox Automotive COVID-19 Resource page (https://www.coxautoinc.com/covid-19/) to better understand the details on the product specials mentioned above. The Resource page will also provide insights and resources, including a robust collection of videos and webinars, from across Cox Automotive developed to assist you.
As always, your partnership continues to be greatly appreciated.
With kind regards,
President, Retail Solutions
Speaking with many of you over the last week, we have been working through personalized plans to support your individual needs. These conversations made it clear we needed to come back to you with more.
In response, we are launching the Cox Automotive Retail Solutions COVID-19 Assistance Program.
For the months of April and May 2020, Cox Automotive Retail Solutions will provide a 50% discount on our Retail Solutions Dealer Subscription Product fees that include the following:
• Autotrader Subscription Listings
• Dealer.com Websites and Digital Retailing
• Dealertrack DMS
• Dealertrack F&I
• Dealertrack Registration & Titling Subscription Products
• HomeNet Automotive
• Kelley Blue Book Instant Cash Offer (ICO)
This reduction applies only to Cox Automotive Retail Solutions subscription fees. Associated fees from non-Cox Automotive entities remain the domain of those entities for their services. If any DMS provider lowers or waives their fees to Cox Automotive, we will pass the entire savings along to you, our dealer clients.
As for our valued OEM partners, Cox Automotive will work with you to determine how to distribute the funds through respective programs.
No action is required by you at this time to receive this discount. Your partnership with Cox Automotive and commitment to your employees, communities, and our industry is greatly appreciated, now and always.
President, Retail Solutions
(Limited-Time Free Offer) – Dealertrack F&I Assisted Remote Signing: Assisted Remote Signing will be no charge through end of August 2020 to existing clients on Digital Contracting on Dealertrack uniFI. If you are interested in Assisted Remote Signing and do not have Digital Contracting, reach out to us to learn more.
(Limited-Time Free Offer) – HomeNet SnapLot 360: SnapLot 360 will be no charge for 60 days starting May 1 to our Autotrader Subscription Listings dealer clients signed up for Dealer Home Services. Learn more
Manheim Express Offers $0 Sell Fees on All Self-Listed Vehicles for Month of April and May. Learn more
It’s been four weeks since I shared NextGear Capital’s dealer relief package in response to COVID-19’s dramatic impact on our industry. Since that time, we’ve witnessed this virus continue to impact our families, communities and our very way of life.
Our leadership team remains committed to providing support for our dealers during this crisis. Although these are trying times for us all, I am optimistic that we will thrive once again. With that said, I am extending our relief package originally set to expire on April 22 through the end of the month for all NextGear Capital dealers in good standing.
As a reminder, those benefits included the following:
• Deferred Curtailment & Extension payments for Eligible Floorplan Advances
• No Late Fees
• No Collateral Audit Reconciliation Fees
• No First Extension Fees
• No Full or Partial Waiver Fee tied to Curtailments or Extensions
• No Collateral Audit Fees
Dealers now have two full weeks to continue benefitting from our original relief package while we hammer out details on what a second wave of relief looks like. You have my word that you will hear from me again by next Friday, April 24, with more details.
While I understand economic assistance is appreciated, I also recognize it’s only one of the ways we can support our dealers right now. For example, businesses and consumers alike are being inundated with messaging related to COVID-19 and it’s difficult to cut through the clutter. Because of this, NextGear Capital is launching a COVID-19 Dealer Resource Hub that aggregates all of the most important resources and information in one place. On that topic, if you haven’t registered for Dale Pollak’s webinar focused on managing and sustaining business through the current crisis, I would encourage you to do so. You can sign up for free here.
Please continue reaching out to your Portfolio Manager with any needs or questions you may have and know that our entire organization has you in our thoughts.
President, NextGear Capital
A message to our dealership friends
These are uncertain times, but we’re in this together. We remain committed to your fixed operations business needs and are here to partner with you on a safe solution. There’s never been a better time to support your customers with a white glove service experience that is safe and convenient.
In response to the COVID-19 situation, Clutch Technologies is offering Service Pickup & Delivery software at no cost through July 2020 to enable you to continue to drive service revenue and pick up customer vehicles for service. Our team is committed to providing a fully remote, simple implementation in three business days to get you up and running quickly. Learn more about Service Pickup & Delivery and how you can sign up.
Whether you’re an existing Clutch partner or not, we’re here to help. You are in our thoughts and you have our support.
SVP Sales, Clutch Technologies
President, Clutch Technologies
(Product Enhancements) – vAuto Market Days Supply Trend Report: No additional cost to our vAuto Provision clients. Learn more