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15 read
10 Key Market Trends – 2019 Spring Update
05/23/2019
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. VIDEO HIGHLIGHTS The Economy – Economic growth has been revised slightly downward from 2.6% to 2.4% GDP due to a softer than expected year-end 2018, plus a slow start in first quarter 2019. Despite the decelerating…
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Fixed Ops
Research
Mobility
credit
interest rates
New Car
Used Car
Market Insights
Economy & Trends
7 min read
Top Insights Shaping the Automotive Industry in 2019
01/24/2019
Jonathan Smoke, Chief Economist at Cox Automotive discusses the economic outlook for the automotive industry into 2019. Isabelle Helms, Vice President of Research & Market Intelligence, shares findings from the Cox Automotive Service Industry study to help dealers understand how to take advantage of these trends and differentiate themselves in the marketplace. Benefit of Strong Economic Tailwinds from 2018 – 2018 saw a robust economy…
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Fixed Ops
Research
Mobility
credit
interest rates
New Car
Used Car
Market Insights
Economy & Trends
7 min read
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%…
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Fixed Ops
Dealership Experience
Research
Service
3 min read
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.…
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CRM
Fixed Ops
DMS
F&I
Staffing
Operations
7 min read
Boost efficiency with a faster, more enjoyable car-buying process
07/09/2018
Here’s why things are changing and why connected retail operations are so important to your business These are challenging times for dealer operators. Business is good, but that doesn’t mean there aren’t issues keeping you up at night, bedeviling today's profitability and compromising your store’s future. At issue is a conundrum with no easy answer: the need to reduce costs and improve the efficiency of the…
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Digital Retailing
CRM
Fixed Ops
Dealership Experience
DMS
customer satisfaction
Operations
5 min read
Keep your customers: Give them the experience they want
02/19/2018
This essay is excerpted from Jim Roche's new book, Fast Lane: How to Accelerate Service Loyalty and Unlock its Profit-Making Potential. Jim Roche is senior vice president of marketing and managed services at Xtime, a Cox Automotive company. If you ask car owners across America, they will tell you the benefits of vehicle ownership, such as the positive impact it has on their lifestyles. Now, ask…
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Service
Fixed Ops
News Coverage
4 min read
Reinventing fixed ops; ‘Same same’ isn’t good enough
12/18/2017
Here are three troubling statistics about service departments at franchised dealerships: 1. These dealerships typically retain only about half of the customers who buy a new or used vehicle from them or visit their service department with no prior experience with the dealership. 2. The dealerships handle only 30 percent of service work performed each year across the country. 3. Service and parts department revenue increased…
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Fixed Ops
News Coverage
Play
3:01 min watch
Fixed Ops
11/06/2017
When it comes to maintenance and repair services, dealers are leaving money on the table. In this video, Isabelle Helms, Vice President of Research & Market Intelligence at Cox Automotive, shares the revenue opportunity with fixed ops and what dealers can do to capture more of this potentially lucrative market. Check out all of the Top 10 Trend videos to learn more: Millennials Affordability Autonomous Vehicles Used Car…
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Fixed Ops
Research
Service
Market Insights
Economy & Trends
1 min read
Top 10 Trends Impacting the Automotive Industry Today
11/06/2017
Over the last decade, the automotive industry has experienced record lows followed by record highs. While the future is full of uncertainty, it is also full of opportunity, and Cox Automotive strives to help clients navigate this ever-changing marketplace. Here are the 10 trends that we believe will have the greatest impact on automotive businesses in the near-term and long-term. We will continue to monitor these…
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Digital Retailing
Fixed Ops
Research
Economy & Trends
Vehicle Tech
Used Car
Millennials
Market Insights
Economy & Trends
2 min read
Service
10/18/2017
When it comes to maintenance and repair services, dealerships are leaving money on the table. Despite being known for their knowledgeable and skilled technicians, dealers only capture 30% of service visits a year. Dealerships must more effectively “sell” their service department. Ultimately, a strong maintenance and repair customer service experience can lead to future sales and referral business. $ B spent on service Consumers spend $99…
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Fixed Ops
Research
infographic
Service
Market Insights
Economy & Trends
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