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COVID-19 BUSINESS UPDATES

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5 Car-Shopping Trends That Persist in the Shadow of COVID-19

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

Staying Connected to Your Customers During COVID-19

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

Reimagining the Automotive Consumer Experience

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

Cox Automotive Industry Update Report: February 2020

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

4 Incentive Pillars for Powering Consumer Transactions

The Cox Automotive Rates & Incentives (CAR&I) team has identified the must haves for your digital and in-store retailing process. The areas to focus on are: Completeness Transparency Accuracy Timeliness Completeness – Does your data provider audit with OEM configuration tools? Complete listings need to include all rates, residuals, rebates and incentives for all U.S. … Continued

Cox Automotive Industry Update Report: January 2020

The January 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 declined in December based on the final data for the month from the University of … Continued

Gently Used Posing Harsh Threat To New Car Sales

Consumers may finally be nearing a breaking point as new vehicle prices continue to rise, causing a seismic shift in the marketplace as shoppers scramble to find the models they desire at prices they can afford—and that’s danger for the automakers. That was the sobering message from Cox Automotive economists during a briefing for the … Continued

Cox Automotive Industry Update Report: December 2019

The December 2019 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 improved in November based on the final data for the month from the University of … Continued

Cox Automotive Industry Update Report: November 2019

The November 2019 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 Headline unemployment rate came in at 3.6% in October. The October employment report provided evidence of a … Continued

Cox Automotive Industry Update Report: October 2019

The October 2019 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 Headline unemployment rate fell to 3.5% in September, which was last seen in December 1969. The underemployment … Continued