Learning Center | Cox Automotive

2019 Car Buyer Journey Study 06/04/2019 CONSUMERS INCREASINGLY FEEL THAT OWNING A CAR IS TOO EXPENSIVE Nearly half of consumers feel like owning or leasing a vehicle is becoming too expensive (see Diagram A).1 The percentage of vehicles costing more than $50K has, in fact, grown from 6% in 2012 to 23% in 2018. This increase in new car prices, coupled with rising interest rates, has created a bigger gap between new… Read Article

Digital Retailing Research shopper insights Car Buyer Journey Sales Marketing

All Operations Inventory Marketing Sales Service Market Insights

The High Cost of Poor-Quality Leads 11/11/2019 Time is money – and one of the most significant ways for dealers to waste both is chasing bad leads. Typically, the biggest problem for dealers isn’t getting enough leads, but rather, how to correctly manage the many they do have and how to distinguish the good leads from the bad ones. While ignoring leads can result in lost sales, there is a balance between following… Read Article

Digital Retailing Merchandising Lead Quality Marketing

Key Trends of 2019 – Q3 Update 11/08/2019 Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the Key Trends that, earlier in the year, were predicted to have the greatest impact on the automotive industry in 2019. The Economy Economic growth has been revised slightly downward from 2.6% to 2.3% GDP for 2019 and is expected to be less than 2% in 2020. Many factors are causing this slow down including… Read Article

Market Insights Economy & Trends

5 Ways to Differentiate Your Dealership from the Competition 10/29/2019 It’s well-documented that car buyers think buying a car takes too long. They want to find their car online, agree on a price and trade-in value, and do their paperwork before ever going to the dealership.1 But you’ve already started to solve those challenges by using digital retailing at your store. Now it’s time to let your potential customers know: you’ve got a better way than… Read Article

Digital Retailing Marketing Sales

2019 Dealership Staffing Study 10/28/2019 COMPETITION FOR TOP NOTCH EMPLOYEES HEATS UP What makes employees jump ship and what makes them stay? Approximately 1,200 people weighed in on the 2019 Dealership Staffing Study — some already working at dealerships, some in other industries, and others actively looking for work — regarding their employment-related challenges, priorities, and expectations. First and foremost: Dealerships aren’t just competing with each other for talent; they’re competing… Read Article

Research Staffing Operations

Cox Automotive Industry Update Report: October 2019 10/23/2019 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 rate, which is the broadest measure of unemployment, fell to 6.9%,… Read Article

Market Insights

In a World Where Fewer People Own Cars, Where Do Dealerships Fit In? 10/09/2019 If you’re looking for a front-row seat to an unfolding disruption, keep your eye on the automotive industry. Right now it feels a bit like the wild west with so many mobility options and providers entering the market, and it remains to be seen how the landscape will settle. But one thing is for sure: the evolution is underway. It’s predicted that, in the near future,… Read Article

Mobility vehicle subscription Sales

Case Study: The Art of the Digital Deal 09/24/2019 OPENING VIRTUAL DOORS Driver’s Village has always prioritized its customers wants and needs. Faced with the harsh winter climate of upstate New York, the group converted an obsolete 90-acre regional mall into the country’s only auto mall with 20 franchises under one roof. This unique business model made shopping easier and more pleasant for customers. So, when digital retailing took off and a segment of customers… Read Article

Digital Retailing Case Study Sales

Is Car Subscription the Way of the Future? 09/20/2019 Emerging trends in mobility, such as the rise of ride-hailing, car sharing, and subscription services, are changing the way people use, value, and relate to personal vehicles. These new mobility services are contributing to a growing change in transportation preferences as consumers are shifting away from vehicle ownership and towards “vehicle usership.” But while pretty much everybody already understands ride-hailing and car-sharing (think: Uber, Lyft and Zipcar), vehicle… Read Article

Mobility vehicle subscription Sales

Cox Automotive Industry Update Report: September 2019 09/19/2019 The September 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 Job creation slowed to 130,000 when analysts had expected 160,000. The prior two monthly numbers were revised down for a net decrease of 20,000 fewer jobs than originally… Read Article

Market Insights

Make Meaningful Connections & Sell an Experience 09/11/2019 Here we are in 2019, and it’s fair to assume that just about every dealership general manager or sales manager in America has heard about digital retailing. It’s also a reasonable assumption that some are all-in when it comes to adopting digital retailing, while others remain skeptical – and even more are unclear about the potential benefits to their business. The confusion is understandable. On its… Read Article

Digital Retailing Marketing Sales

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