Sales of certified pre-owned (CPO) vehicles increased 8% year over year in January, starting the year off with the highest CPO sales for January in a decade. For the month, 215,959 CPO units were sold according to an analysis of Motor Intelligence data, down 8% month over month compared to December, which is typically a … Continued
We continue to expect this year to be “not so bad” for the industry and especially for dealers as a modest decline in new retail sales will be offset by the gain in used retail sales. Consumer spending slowing: Consumer sentiment is stronger so far this year despite modestly higher prices and slowing real wage … Continued
Liza Myers Borches, CEO of Carter Myers Automotive, was mistaken for a spouse of a dealer, not a dealer herself, when she went to a baseball game with an automaker. A situation such as that is rare these days, she said, but “that just told me that there’s still some unconscious bias. It happens, and … Continued
ATLANTA, Feb. 17, 2020 – Cox Automotive presented its annual Barbara Cox Woman of the Year Award to Liza Myers Borches, president and CEO of Carter Myers Automotive, a fourth-generation family- and employee-owned business. Named after Barbara Cox, the late co-owner of Cox Enterprises and daughter of the company’s founder, this honor is awarded to … Continued
ATLANTA, Feb. 15, 2020 – Cox Automotive presented its annual Leader in Sustainability Award to Planet Subaru, a retailer south of Boston that offers itself as the “undealership.” The Cox Automotive Leader in Sustainability Award recognizes a dealership for outstanding in-dealership sustainability programs related to waste reduction, energy or water conservation, with a focus on … Continued
ATLANTA, Feb. 14, 2020 – Cox Automotive Rates & Incentives (CAR&I) released a new data set for certified pre-owned (CPO) APR and used-vehicle retail financing. The API enhancements optimize the selling experience designed to be the industry’s most complete, accurate and timely incentive data through easy integration to power consistent pricing and payments. Dealers are now … Continued
Fiat Chrysler’s Ram brand soared in shopping consideration and consumer perception as well as sales in the final quarter last year, according to the Kelley Blue Book Brand Watch™ Report for Q4 2019. The Brand Watch Report is a consumer perception survey that also weaves in consumer shopping behavior to determine how a brand or … Continued
UPDATED, Feb. 14, 2020 – Nissan reported worse than expected earnings and further cut its forecast for operating profit for the full year, which ends March 31. Nissan already has announced aggressive cost cuts. _________________________________________________________________________ Nissan Motor Co. in Japan reports earnings on Thursday, Feb. 13, for the quarter that closed at year-end. In the … Continued
It’s not that consumers don’t want to visit a dealership when they buy a vehicle. They do. Generally, though, few are satisfied with how quick and convenient the process is. That’s among the takeaways from a new Cox Automotive survey that asked 2,000 consumers of driving age what they think about ideas to reinvent the … Continued
“Not so bad” meaning “equally good and bad on either side of the coin,” is how Cox Automotive chief economist Jonathan Smoke sized up the economic outlook for 2020. Unemployment is at a 50-year low, consumer sentiment continues to be “relatively high” and consumers are seeing strong wage and income growth, he said. But there are … Continued
