ATLANTA, July 12, 2019 – Cox Automotive, in partnership with the National Association of Minority Automotive Dealers (NAMAD), awarded its Rising Star Award to Eddie Hall III, general manager at The Hall Automotive Group in Royal Oak, Michigan. Hall was chosen based on nomination criteria, including being a NAMAD member in good standing under the age … Continued
ATLANTA, July 8, 2019 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.61% month-over-month in June. This brought the Manheim Used Vehicle Value Index to 140.5, a 4.1% increase from a year ago. After seeing steady and slightly lower than normal depreciation in weekly Manheim Market Report (MMR) prices in May, … Continued
Auto Remarketing, July 6, 2019 — In this episode, recorded at the company’s Detroit-area offices, Cox Automotive chief product officer Marianne Johnson discusses practical uses of artificial intelligence for dealers and auto auctions, the use of AI in alternative vehicle usage and connecting the online to in-store experience for car dealers. Plus, she shares how … Continued
Automotive News Weekend Drive, June 29, 2019 — Automotive News Reporters Michael Martinez and Mike Wayland are joined by Jonathan Smoke, chief economist, Cox Automotive, on Weekend Drive to discuss the first half of the year and how the market has fared so far. They discuss several factors affecting the market, including how lower discounts … Continued
Auto Remarketing, June 28, 2019 — Cox Automotive chief economist Jonathan Smoke emphasized that the statement he was about to make was “not a negative thing.” Smoke and other Cox Automotive leaders were speaking to reporters and others gathered at the company’s Detroit-area offices on Wednesday, discussing Cox’s 2019 Mid-Year Review and Outlook report. “The … Continued
Automotive News, June 28, 2019 — For just the third time in a decade, the U.S. auto industry is expected to enter the summer selling season without a monthly sales gain. Light-vehicle deliveries are predicted to decline between 1.5 and 3.3 percent this month from June 2018, according to estimates from four forecasters. That would … Continued
Forbes, June 26, 2019 — Fleet sales have always been the low-profit bottom feeders for automakers looking to keep assembly plants running and padding monthly sales reports. But an analysis presented by Cox Automotive on Wednesday indicates the carp of the car industry has suddenly become attractive game that is not only growing to historic levels, … Continued
ATLANTA, June 26, 2019 – Cox Automotive is forecasting June U.S. auto sales volume to decline nearly 2.7% from last year, about 40,000 units, falling to 1.51 million. The seasonally adjusted annual rate (SAAR) is expected to drop slightly to 17.2 million, below May’s 17.3 million level, but on par with the 17.2 million posted … Continued
Auto Remarketing, June 21, 2019 — Tim Echols, now a commissioner on the Georgia Public Service Commission, was 11 years old and selling boiled peanuts at his family’s auto auction, then known as Bishop Brothers Auto Auction. “As I roamed this lot, talking to car dealers, learning that if burned the peanuts, they would ask me … Continued
SubPrime, June 20, 2019 — This year began with expectations the Federal Reserve would push interest rates higher multiple times. Then this week, not only did policymakers maintain the rate at its current level, experts are seeing the possibility of a rate cut before 2019 closes — perhaps because a recession might be approaching. While not … Continued