Learning Center | Cox Automotive

Data Innovation That Drives Bottom Line Results 04/10/2023 By: Brad Phelps, Senior Director of Data Strategy “Innovation is seeing what everyone has seen and thinking what no one has thought.” -Dr. Albert Szent Gyorgyi, Nobel Prize winning biochemist. Everyone knows that good data informs better decisions. In parts one and two of our DRiVEQ blog series, we described the difference between data that drives a single intelligent decision vs. repeated, industry leading decisions. In… Read Article

Turning Data into Actionable Intelligence 12/21/2022 By Brent Towne, Sr. Director of Consumer Data Strategy Today’s consumers expect brands to understand them better than ever, offering personalized products and services. Meanwhile, brands are investing in customer data and experience management to maximize customer satisfaction, loyalty, and lifetime value. But modern data capabilities don’t always translate into relevancy and efficiency for the consumer. Or generate value for brands. In part two of our… Read Article

Connected Data: The engine that powers better results 08/11/2022 The Automotive industry is changing at breakneck speed. This includes a dizzying array of new vehicles being offered, many from completely new OEMs. A radical shift to electrification, and a steady and pronounced shift to more digital interactions are being felt throughout the entire industry. Read Article

Marketing

All Operations Inventory Marketing Sales Service Market Insights

Become More Profitable & Efficient with Insight from Today’s Top Performing Dealerships 06/15/2021 In every industry, there are top performers who separate themselves from the pack by achieving results that go above and beyond what others manage to accomplish. But, they also separate themselves through their daily actions, by differences in the way they approach operations. These discerning dealers are thriving — and they’re sharing the secrets of their success. See full image As a general rule, top performers… Read Article

Operations

Telematics Take the Headache – and Cost – Out of Your Loaner Fleet 01/23/2020 A loaner fleet can involve significant costs – and a lot of moving parts. It’s not easy to track and recoup expenses associated with their loaner vehicles, keep tabs on mileage or servicing, or just stay up to speed on what is going on with the fleet at any given moment. That’s where telematics can make all the difference. A fleet manager’s best friend, telematics help… Read Article

Mobility vehicle subscription loaner fleet telematics Operations

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

Mobility vehicle subscription Operations Sales

Consumer Attitudes Toward Car Ownership Are Changing 05/28/2019 Take a snapshot of the road today – before you know it, it will look completely different. Today the traditional model of mobility (that is, individual car ownership, taxis and public transportation) reigns supreme. Most miles driven today are by owner-operated vehicles, and nearly everyone (83%) is using a personally owned vehicle on a weekly basis.1 But alternative transportation options are starting to chip away at… Read Article

Mobility vehicle subscription Operations 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 vehicle subscription Operations Sales

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

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

Is It Time to Reevaluate Your Dealership’s CRM? 08/20/2018 As the saying goes, we all strive to “work smarter, not harder.” That’s undoubtedly why your dealership invested in its current CRM: to get a tool for improving workflow, increasing efficiency and boosting ROI. What happens when your salespeople have had time to get to know your CRM, but the improvements aren’t materializing or are less dramatic than you’d hoped? Assuming your staff is using the… Read Article

CRM sales process Sales Operations

Want to Improve Employee Retention and Satisfaction? Everyday Tools and Technology Can Help 08/07/2018 Happy employees make for successful dealerships. It’s hard to disagree with that statement, right? Everyone wants employees to enjoy their work, be motivated to succeed, and to relish the idea of coming to work every day. But we all know that it’s not so simple. Boosting morale – and maintaining it – is a complex mesh of salary, opportunity, culture, and the day-to-day requirements of work.… Read Article

CRM Fixed Ops DMS F&I Staffing Operations

A Way to Increase Profitability That Many Dealerships Overlook 08/06/2018 We all know that margins are shrinking for dealerships and that it’s a trend that is likely to continue. With that in mind, it’s important to look for ways to preserve your dealership’s profits. Where should you start? The smart money’s on employee retention. Let’s take a look at some numbers from the Cox Automotive Dealership Staffing Study to understand why this is so important: The average dealership… Read Article

CRM Staffing Operations

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