The COVID-19 pandemic turned 2020 into one of the most difficult years in a century, uprooting lives all over the world. Last March, many people in the U.S. had to quickly adapt to what is now commonly referred to as the “new normal.” The pandemic also significantly altered the U.S. automotive industry, particularly in three … Continued
We all know that 2020 created huge shifts in consumer habits and behaviors – from the way we shop, work, eat and even how our kids learn. Our world has become much more digital and companies have embraced contactless business models almost overnight. Of course, this shift to digital has had a profound impact on … Continued
Predicting the future has long been a hazardous business, as crystal balls are more often anything but crystal clear. Indeed, consider any forecast offered in January 2020: An economy-crashing pandemic was not in the cards. Still, as we face a new year, the Research & Market Intelligence team at Cox Automotive has given thought to … Continued
TAILWINDS, HEADWINDS AND WHIRLWINDS Still raging its way around the world, COVID-19 delivered an unprecedented sucker punch to the automotive industry. And while there’s universal agreement the industry will recover, it will look very different when it emerges. Part of that conversation will be how we do business (virtually); the other part will be whether … Continued
Cox Automotive Executive Vice President and vAuto Founder Dale Pollak and Chief Economist Jonathan Smoke, along with special guests discuss on the latest market insights and essential steps your dealership needs to take now to prepare for the headwinds likely ahead.
The April 2020 Cox Automotive Industry Update Report shares 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. ECONOMIC INDICATORS The initial reading on Consumer Sentiment from the University of Michigan fell to 71 from 89.1 in … Continued
It’s news to no one that these are anxious times. But despite what probably feels like all doom and gloom right now, there is actually plenty of opportunity for dealers to stay connected to customers, bring in new business, and even transform your 21st century sales and operational strategy for the better. We’ve analyzed the … Continued
These are unprecedented times. Every day seems to bring more news of COVID-19’s latest impacts, both globally and locally. Through all of this, we are committed to sharing with you the most up-to-date information and relevant best practices to help you continue to provide the optimal customer experience for which your dealership is known. Start … Continued
It used to be that the key differentiator for dealers and manufacturers would be the product on their lots – the vehicle. However, over the years, OEMs have improved their product quality, and the difference between the quality of one vehicle over another is now harder for consumers to distinguish. As a result, consumer experience … Continued
The February 2020 Cox Automotive Industry Update Report shares 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. ECONOMIC INDICATORS Consumer Sentiment from the University of Michigan rose to 100.9 in the initial February reading, above the … Continued