The Manheim Used Vehicle Value Index (MUVVI) increased 8.6% in the first quarter, ending March at 238.1. The MUVVI has risen for four consecutive months after experiencing the largest decline within one year in the series’ history in 2022. Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.5% in March from … Continued
ATLANTA (April 7, 2023) – According to data assembled by Cox Automotive, the world’s largest automotive services and technology provider, the market for used electric vehicles (EVs) in the U.S. is beginning to accelerate rapidly as more used EVs become available and buyers snap them up. The rapid growth of new EV sales in the … Continued
CNBC, March 26, 2023 – Over 300 million electric vehicles are expected to be on the world’s roads by 2030, according to the International Energy Agency. By 2050, the National Renewable Energy Laboratory expects the demand for graphite, lithium and cobalt, all critical minerals in EV batteries, to increase by 500%. It estimates that the … Continued
Updated, April 3, 2023 – As the Cox Automotive Industry Insights team expected, new-vehicle sales in Q1 delivered solid year-over-year gains. Higher inventory levels and improved fleet sales combined to lift overall industry results. Honda and Nissan delivered stronger-than-expected vehicle sales in Q1; both GM and Ford had good results fueled by strong truck and … Continued
CBT News, March 22, 2023 – Beth Beans Gilbert, vice president of the Fred Beans Automotive Group, received the 2023 Barbara Cox Woman of the Year Award from Cox Automotive earlier this year. Ken Kraft, chief marketing officer of Cox Automotive, and recipient Beth Beans Gilbert discuss the accolade on today’s Inside Automotive.
In this Used Car Dealer Podcast episode, Zach Klempf interviews Dale Pollak, Founder, vAuto and EVP, Cox Automotive. Dale discusses trends in the used vehicle market, as well as why now is the time for dealers to move from Velocity to Variable Management. He also touches on how vAuto’s ProfitTime GPS helps dealers implement a variable inventory … Continued
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below … Continued
SAN FRANCISCO – March 7, 2023 – In the machine learning world, making models run across a variety of mobile phones is notoriously challenging. This is why Fyusion, a visual intelligence company owned by Cox Automotive, has delivered a powerful new open-source library that makes it easy and efficient to run machine learning models on … Continued
ATLANTA – March 2, 2023 – Cox Automotive has tapped Derek Hansen as vice president of Operations, Inventory Management Solutions. In this new role, he will advance vAuto’s new Variable Management strategy, supported by its flagship solution ProfitTime® GPS, while continuing to grow Kelley Blue Book® Instant Cash Offer and Upside™—ultimately helping dealers achieve more profitable … Continued
ATLANTA (Feb. 28, 2023) – Driven to keep the world’s fleets moving efficiently, safely and sustainability, Cox Automotive today announced the acquisition of fleet industry leader FleetNet America®. With the acquisition, Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market leadership that … Continued