Learning Center | Cox Automotive

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A Fresh Focus on Fixed Ops Is Paying Off 01/16/2019 Vehicle sales are now contributing less to dealership profit and fixed ops is contributing more. Today, fixed ops comprises 49% of dealership gross profit.1 The service department is also critical to retention and repeat sales. In fact, 74% of car buyers who had their vehicle serviced by the dealership of purchase said they were likely to return there to purchase their next vehicle, while only 35%… Read Article

Fixed Ops Dealership Experience Research Service

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Easterns Automotive Group Embraces Transparency with Kelley Blue Book® Price Advisor for Greater Competitive Edge 12/04/2018 Joel Bassam, Marketing Director of Easterns Automotive Group, understands that pricing transparency is critical for today’s vehicle buyers — as well as dealerships. “Transparency is important to us as a company,” he says. “We don’t want to spring surprises on our customers. I want a customer to always feel confident in our price.” “I want them to be able to do a small amount of research… Read Article

Advertising Case Study Pricing Marketing

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Working Deals in a Digital World 09/14/2018 Dealerships have arrived at a moment of unprecedented opportunity, where it’s now possible to drive increased efficiency, profitability — and even customer loyalty — at the same time. More and more, car shoppers are ready to start — and even make — deals online. Thanks to a convergence of high consumer expectations, rapidly evolving technologies and a greater understanding of online behaviors, the stage has been… Read Article

Digital Retailing Dealership Experience Customer Handling Marketing Sales

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2018 Emotional Connections Study 03/07/2018 It’s no surprise that buying or leasing a vehicle is an emotional experience for consumers, but the Cox Automotive 2018 Emotional Connections Study reveals the specific emotions and pain points consumers undergo through all phases of the vehicle purchase process. Armed with insight into these varying emotions, dealers have an opportunity to reduce negative emotions and enhance positive portions of the experience. Download this examination of… Read Article

Digital Retailing Dealership Experience Research customer satisfaction Sales

All Operations Inventory Marketing Sales Service Market Insights

Making Car Buying Cool Again 02/07/2019 If you’re a dealer who hasn’t embraced digital retailing – you’ve already fallen behind the pace of commerce. You could blame Amazon for its convenient, right time/right product/right place approach to online commerce, and you would not be far off: The “Amazon Effect” has disrupted many retailers. Yet while people think of the Amazon Effect in terms of shuttered brick and mortar stores, the real impact… Read Article

Digital Retailing Sales

Shift from Ownership to Access Is Shaping the Future of Automotive 02/05/2019 Awareness and usage of ride-hailing, car-sharing, and vehicle subscription services are growing, with nearly 4 in 10 consumers agreeing that transportation is necessary, but owning a vehicle is not. Collectively termed “mobility,” these disruptions to automotive retail are predicted to have a significant impact on consumer vehicle sales over the next five years.1 Dealers and OEMs must prepare for this change. Consumers increasingly feel that owning a vehicle… Read Article

Mobility Operations Sales

Optimizing Rebates & Incentives for Consumer Digital Retailing Experience 02/04/2019 The Source of Disconnect Between Dealers and Consumers The automotive retail industry has historically provided consumer incentives for use directly to dealers. Once the information was passed along, dealers chose how to share (or not to share) these offers with consumers. Incentives have been used within desking tools and advertising campaigns with little to no method for consumers to select the incentives that fit their transaction… Read Article

Digital Retailing Research Rebates & Incentives Sales

New Brand Scorecards Study Debuts at NADA 2019 01/24/2019 Jonathan Smoke, chief economist for Cox Automotive, and Jason Stein, publisher of Automotive News, debuted the new Retail Brand Scorecards Study at the Automotive News Retail Forum at NADA today. This annual study measures and compares six areas of performance relevant to a franchise dealer’s ability to succeed. Retail Brand Scorecards are created with data powered by Cox  Automotive in association with Automotive News. In the… Read Article

Market Insights Smoke on Cars

Top Insights Shaping the Automotive Industry in 2019 01/24/2019 Jonathan Smoke, Chief Economist at Cox Automotive discusses the economic outlook for the automotive industry into 2019. Isabelle Helms, Vice President of Research & Market Intelligence, shares findings from the Cox Automotive Service Industry study to help dealers understand how to take advantage of these trends and differentiate themselves in the marketplace. Benefit of Strong Economic Tailwinds from 2018 – 2018 saw a robust economy… Read Article

Fixed Ops Research Mobility credit interest rates New Car Used Car Market Insights Economy & Trends

Cox Automotive Industry Update Report: January 2019 01/17/2019 The January 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 Wages and incomes continue to grow faster than prices, so consumer spending power continues to improve. However, the fact that higher wage growth is trickling into higher core… Read Article

Market Insights Economy & Trends

A Fresh Focus on Fixed Ops Is Paying Off 01/16/2019 Vehicle sales are now contributing less to dealership profit and fixed ops is contributing more. Today, fixed ops comprises 49% of dealership gross profit.1 The service department is also critical to retention and repeat sales. In fact, 74% of car buyers who had their vehicle serviced by the dealership of purchase said they were likely to return there to purchase their next vehicle, while only 35%… Read Article

Fixed Ops Dealership Experience Research Service

Cox Automotive Industry Update Report: December 2018 12/22/2018 The December 2018 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 Inflation in November came in as expected. The core CPI, which excludes Food and Energy, increased again 0.2% on a seasonally adjusted basis from October. Housing and specifically… Read Article

Market Insights Economy & Trends

CRM Strategies to Drive Dealership Success in 2019 12/14/2018 As dealerships face increasing competition amid shrinking margins, a strong CRM strategy should be the cornerstone of every dealership. Most dealerships, though, are still struggling to optimize their system. Many dealerships have invested in a new CRM but aren’t seeing a return on their investment. Some have fallen behind on updating the CRM and haven’t been able to motivate their teams. Others find their sales figures… Read Article

CRM Staffing Operations

8 Key Market Trends – 2018 Fall Update 12/10/2018 Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the 8 Key Trends that, earlier in the year, he predicted would have the greatest impact on how the automotive industry performs in 2018. Now that we are close to wrapping up the year, we are revisiting those trends to see how things have shaped up and are also looking at an additional 9th key… Read Article

Research Economy & Trends credit interest rates New Car Used Car Market Insights Economy & Trends