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8 min read
U.S. Automobile Dealer Sentiment Stumbles in Q3 as Political Climate Heats Up
09/06/2024
ATLANTA, Sept. 6, 2024 – The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) shows automobile dealers in the U.S. continue to view the market as weak. The overall Q3 market sentiment index dropped to a score of 40, down from 42 in Q2 and 45 from a year ago, signaling a weakened market sentiment. “For more than two years now, after reaching peak profits in…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
9 min read
U.S. Automobile Dealer Sentiment Index: As Market Uncertainty Grows, Dealers Remain Pessimistic and Cautious
06/10/2024
ATLANTA, June 10, 2024 – The latest Cox Automotive Dealer Sentiment Index (CADSI) remained stable from Q1 to Q2 2024 despite dealer uncertainty in the market and economy. The Q2 current market index score of 42 indicates most U.S. auto dealers see the market as weak. One year ago, the index was 45, also below the 50 threshold. The last time current market sentiment was above…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
7 min read
Cox Automotive 2024 Path to EV Adoption Study Suggests Electric Vehicle Consideration Will Surge in Second Half of Decade
05/14/2024
ATLANTA, May 14, 2024 – A second, significant wave of shoppers ready to consider buying an electric vehicle (EV) is poised to begin entering the market in the second half of the decade, according to the latest findings from the 2024 Path to EV Adoption Study by Cox Automotive. The findings indicate that nearly half of all vehicle shoppers in market today are not even considering…
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Electric Vehicles
EVs
EV
Press Releases
1 min read
WATCH NOW: Insights to Take you to the Next Level for a Healthier World and Stronger Bottom Line
04/22/2024
While it is necessary for dealerships to realize short term benefits from their sustainability efforts, environmental sustainability will increasingly play a significant role in the long-term profitability of dealerships. Being intentional and organized around sustainability is necessary to maximize the benefits. Also, local community engagement is a key enabler of long-term success of dealership environmental sustainability efforts. Learn more about brands featured in the video: Do…
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Speaker Sessions
1 min read
WATCH NOW: Understanding the Differences in Your AI Options for Auto Retail
04/15/2024
“Artificial intelligence is everywhere. And that is a good thing for our industry! Recent advances in technology have the potential to be gamechangers for dealerships. But all AI is not created equal. Watch this video to learn how to make sense of all the buzz, including what to expect from this technology and key questions to ask as you evaluate tools. Learn more about brands featured…
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2 min read
Meet the Consumer Demand for Omnichannel Retailing
10/25/2024
Jessica Stafford, Senior Vice President of Cox Automotive Consumer Solutions, shares how dealers can provide an outstanding shopper experience with an omnichannel approach. Today’s car shoppers have made themselves clear. They want an omnichannel retail experience: 71% of consumers say they are likely to complete their next car purchase using an omnichannel approach. (2023 Cox Automotive Car Buyer Journey Study) 43% of recent car buyers used…
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Back Office
Sales
Marketing
4 min read
Announcing Retail360: The Only True Omnichannel Capability in Automotive Retail
10/08/2024
Today’s consumers want a consistent, connected car-buying journey. In fact, according to Cox Automotive’s Car Buyer Journey study, 43% of recent car buyers used an omnichannel approach, and 71% are likely to do so in the future. That means more than 7 out of 10 shoppers will use multiple channels—online, in-store or some combination—to make their next vehicle purchase. Providing the connected, omnichannel experience consumers want—while…
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Back Office
Sales
Marketing
5 min read
The New Car Inventory Derby of 2021
06/28/2021
Every spring I look forward to the first weekend in May to watch The Kentucky Derby. In this year’s race, Bob Baffert set a record by winning his 7th trophy with the horse Medina Spirit who beat Mandaloun by a ¼ length. It was the closest finish at the Derby since 2005. The official outcome of the race is still under review, as Baffert was accused…
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Sales
4 min read
Case Study: How Clark Knapp Honda Speeds Up Sales
12/29/2019
A FASTER BUYING PROCESS TRANSCENDS INCOME LEVELS Family-owned Clark Knapp Honda sits ten miles from the U.S/Mexico border in Texas’ Rio Grande Valley. Its market spans over 150 miles with 1.5 million people. The Valley has a higher than average poverty rate, which can translate to lower internet access. That may explain why no dealerships in the area offered digital retailing tools. Clark Knapp Honda saw…
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Digital Retailing
Sales
7 min read
Offers are Options: Here’s How Digital Retailing Helps You Get to the Final Deal
12/20/2019
“Look, digital retailing and the transparency it brings is not the issue. And the ‘race to the bottom?’ That’s the reality of the car business today – sure, it started with the internet, but customers have always been willing to travel four hours to save 500 bucks on a $30,000 car. That's not going to change.” —Digital Retailing Dealer Welcome to the upside-down world of price and…
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Digital Retailing
Sales
4 min read
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…
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Digital Retailing
Marketing
Sales
4 min read
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,…
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Mobility
vehicle subscription
Sales
6 min read
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…
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Digital Retailing
Case Study
Sales
6 min read
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…
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Mobility
vehicle subscription
Sales
7 min read
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…
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Digital Retailing
Marketing
Sales
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For more info or news from other Cox Automotive brands, visit the following sites:
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