Automotive News, June 8, 2020 – Cox Automotive this week will unveil a strategy to realign its business around new priorities — from digital acceleration to data insights — that the company says reflect how auto retailers will need to operate in a post-pandemic world. The campaign, called “The Way Forward,” will include new integrations … Continued
The peak in daily new COVID-19 cases was six weeks ago, the recovery in jobs is encouraging and the rebound in automotive sales is impressive, but consumers may still be wary, particularly in light of social unrest. COVID-19 cases decline: The number of new daily COVID-19 cases peaked six weeks ago on April 24. The growth … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchised and independent auto dealers from around the country, the Cox Automotive Dealer Sentiment Index (CADSI) measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks … Continued
ATLANTA, June 8, 2020 – According to the Q2 2020 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers’ view of the current automotive market remains negative and is understandably far more negative than in the first quarter. With an index score of 20, the rating presents a clear picture of the devastating impact COVID-19 has … Continued
Automotive News, June 8, 2020 – To no one’s surprise, COVID-19 restrictions on vehicle sales and the resulting economic toll drove dealer sentiment into abysmal territory during the second quarter, according to the latest Cox Automotive Dealer Sentiment Index survey. But franchised dealers, known for their boundless optimism, are already anticipating a robust recovery during the … Continued
Forbes, June 5, 2020 – Automakers used generous incentives to spark a temporary sales spike in April and May helping to clear dealer lots. Combined with assembly plants still not up to full production, inventories are low, leaving little reason to sweeten the spiffs. Now, for consumers who waited to jump into the market, or … Continued
CBT News, June 5, 2020 – Mike Boyd, founder and director of business enablement at iRecon, a used-car reconditioning software for dealerships, joins Jim Fitzpatrick at CBT News for a conversation. In this segment, Mike and Jim talk about the used-car market, iRecon becoming part of vAuto, and more. Watch the segment.
Reuters, June 5, 2020 – At the height of the coronavirus pandemic in mid-April, used-car dealer Alex Tovstanovsky had vehicles jammed six rows deep on his lot in the western Chicago suburb of Naperville. But the seeming oversupply was not a mistake. Despite plummeting sales at his store, Prestige Motor Works, Tovstanovsky was betting on a … Continued
At Cox, we have felt the pain and anguish of the communities where we do business and our nation over the past week. People should not live their lives in fear, simply because of the color of their skin. We know African-Americans, including many of our own employees, are afraid for their lives and the … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.96% month over month in May. This brought the Manheim Used Vehicle Value Index to 137.0, a 1.9% decrease from a year ago. Access the full report. The latest update of the Manheim Used Vehicle Value Index is released on the fifth … Continued
