According to the 2017 Cox Automotive Digital Retailing Study, nearly all consumers (98%) want the ability to do at least some piece of the car shopping/buying process online, suggesting that dealers should incorporate at least some aspect of digital retailing into their offerings. In this video, Isabelle Helms, Vice President of Research & Market Intelligence at … Continued
The average U.S. household owns 1.9 cars, but how much are they really spending on the actual vehicle? In this video, Jonathan Smoke, Chief Economist at Cox Automotive, provides insight into affordability – a key factor that will increasingly influence the automotive market. Check out all of the Top 10 Trend videos to learn more: Millennials Affordability … Continued
What will happen with autonomous cars, when will it happen and how will it impact the auto industry? It’s no surprise that there is so much talk about autonomous cars in the industry today, but what do consumers think – or even know – about them? In this video, Isabelle Helms, Vice President of Research … Continued
The economy is chugging right along, which bodes well for the automotive industry. In this video, Jonathan Smoke, Cox Automotive’s Chief Economist, provides a current and future economic overview. Check out all of the Top 10 Trend videos to learn more: Millennials Affordability Autonomous Vehicles Used Car Prices Digital Retailing Shifting Consumer Preferences Fixed Ops Consumer Credit Dealership … Continued
As dealers face increasing margin compression and operating costs, profitability is being tied up in comprehensive operational inefficiencies. Employee recruitment, retention and development (staffing) is one of the biggest sources of operational opportunity that dealers face today. In this video, Isabelle Helms, Vice President of Research & Market Intelligence at Cox Automotive, talks about the … Continued
Over the last decade, the automotive industry has experienced record lows followed by record highs. While the future is full of uncertainty, it is also full of opportunity, and Cox Automotive strives to help clients navigate this ever-changing marketplace. Here are the 10 trends that we believe will have the greatest impact on automotive businesses … Continued
A monthly report leveraging Cox Automotive’s multifaceted insight into the automotive marketplace to provide an overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry.
CPO (Certified Pre-Owned) sales will continue to grow as increasing consumer demand is met with new supply from off-lease volumes. Shoppers see the value of CPO because it gives those who can’t afford a new vehicle the opportunity to have similar technology along with the peace-of-mind that comes with CPO warranty coverage. M cpo sales (2017) CPO … Continued
Car buyers spend most of their shopping time online and are using a variety of devices to shop, including desktop and laptop computers, smartphones and tablets. The prevalence of a multi-screen car-shopping experience gives automotive marketers substantial opportunities to target and effectively influence shoppers at any time or any place. Dealers should focus on unique … Continued
When it comes to maintenance and repair services, dealerships are leaving money on the table. Despite being known for their knowledgeable and skilled technicians, dealers only capture 30% of service visits a year. Dealerships must more effectively “sell” their service department. Ultimately, a strong maintenance and repair customer service experience can lead to future sales … Continued
