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

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

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

Cox Automotive Industry Update Report: November 2018 11/16/2018 The November 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 Based on preliminary estimates from the University of Michigan, consumer sentiment barely declined in November despite stock market volatility and the contentious midterm elections. The consumer sentiment index… Read Article

Market Reports Market Insights Economy & Trends

Cox Automotive Industry Update Report: October 2018 10/17/2018 The October 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 Several states from Florida to Virginia experienced devastation from Hurricane Michael. However, the nature of this fast-moving storm did not produce the kind of vehicle damage we saw… Read Article

Market Reports Market Insights Economy & Trends

Drive Dealership Profitability & Growth by Speeding the Process from Auction to the Lot 10/02/2018 Infusing speed and efficiency into the wholesale-to-retail process — from inventory identification, acquisition and floor-planning to inspection, transportation and merchandising — is not only a way to increase inventory turn, but it's also a particularly effective and increasingly necessary way that progressive dealerships can help overcome margin compression. As used retail gross margin has steadily declined from 13.7% in 2011 to 11.7% in 2017 (exacerbated by… Read Article

Floor Plan Acquisition Wholesale Reconditioning Logistics Operations Inventory

Cox Automotive Industry Update Report: September 2018 09/19/2018 The September 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 Areas impacted by Hurricane Florence have lower vehicle density than the areas around Houston and Florida that were impacted by hurricanes last year. Likewise, preparations were better and… Read Article

Market Reports Market Insights Economy & Trends