Learning Center | Cox Automotive

Staying Connected to Your Customers During COVID-19 03/19/2020 These are unprecedented times. Every day seems to bring more news of COVID-19’s latest impacts, both globally and locally. Through all of this, we are committed to sharing with you the most up-to-date information and relevant best practices to help you continue to provide the optimal customer experience for which your dealership is known. Start with these tips: While many shoppers may delay their vehicle purchase… Read Article

Marketing

Ready or Not, Mobility Is Transforming the Automotive Industry 07/29/2019 EMBRACING THE CHANGE: If You Don’t, Someone Else Will History has proven if a better system comes along and it’s viable, people will use it. It’s entirely plausible that taxicab companies considered that there could be a better way to dispatch their vehicles. But their missed opportunity opened the door for a third-party – Silicon Valley-funded Uber – who revolutionized the ride-hailing industry away from taxicab… Read Article

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5 Car-Shopping Trends That Persist in the Shadow of COVID-19 03/25/2020 It’s news to no one that these are anxious times. But despite what probably feels like all doom and gloom right now, there is actually plenty of opportunity for dealers to stay connected to customers, bring in new business, and even transform your 21st century sales and operational strategy for the better. We’ve analyzed the most recent data on consumer and dealer sentiment as well as… Read Article

Market Insights Marketing

Reimagining the Automotive Consumer Experience 02/21/2020 It used to be that the key differentiator for dealers and manufacturers would be the product on their lots - the vehicle. However, over the years, OEMs have improved their product quality, and the difference between the quality of one vehicle over another is now harder for consumers to distinguish. As a result, consumer experience is of greater importance now more than ever. 2 in 3… Read Article

Market Insights Marketing

Cox Automotive Industry Update Report: February 2020 02/18/2020 The February 2020 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 Consumer Sentiment from the University of Michigan rose to 100.9 in the initial February reading, above the consensus estimate of 99.5 and January’s 99.8. Improvement in expectations is… Read Article

Market Insights

Key Industry Trends for 2020 Is Now Available 01/29/2020 Find out what eight trends Cox Automotive Chief Economist Jonathan Smoke says will have a significant impact on the year ahead. Along with guest Zo Rahim, Jonathan shares how these trends performed in 2019 and makes some predictions for what we can expect them to do in Q1. Read Article

Market Insights

4 Incentive Pillars for Powering Consumer Transactions 01/23/2020 The Cox Automotive Rates & Incentives (CAR&I) team has identified the must haves for your digital and in-store retailing process. The areas to focus on are: Completeness Transparency Accuracy Timeliness Completeness – Does your data provider audit with OEM configuration tools? Complete listings need to include all rates, residuals, rebates and incentives for all U.S. and Canadian OEMs to attract buyers. Transparency – Knowing the complexity… Read Article

Inventory

Cox Automotive Industry Update Report: January 2020 01/17/2020 The January 2020 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 Consumer sentiment declined in December based on the final data for the month from the University of Michigan. The consumer confidence index disappointed in December as the index… Read Article

Market Insights

Gently Used Posing Harsh Threat To New Car Sales 01/14/2020 Consumers may finally be nearing a breaking point as new vehicle prices continue to rise, causing a seismic shift in the marketplace as shoppers scramble to find the models they desire at prices they can afford—and that’s danger for the automakers. That was the sobering message from Cox Automotive economists during a briefing for the media in Detroit on Monday. The average sticker price for a… Read Article

News Coverage

Cox Automotive Industry Update Report: December 2019 12/17/2019 The December 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 Consumer sentiment improved in November based on the final data for the month from the University of Michigan. The consumer sentiment index increased 1.4%, but left consumer sentiment… Read Article

Market Insights

Cox Automotive Industry Update Report: November 2019 11/15/2019 The November 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 came in at 3.6% in October. The October employment report provided evidence of a slower but stabilizing economy. Job creation slowed to 128,000 when analysts… Read Article

Market Insights

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

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