ATLANTA, April 15, 2019 – According to a new study released today by Cox Automotive, budget-minded, time-strapped, tech-savvy U.S. car buyers are spending a higher percentage of their shopping time online and less total time in market as they hunt for their perfect ride. The 2019 Cox Automotive Car Buyer Journey study also indicates consumers continue … Continued
ATLANTA (April 15, 2019) – In response to the skyrocketing digital wholesale marketplace where seeing is believing, Cox Automotive is continuing its investment strategy. This latest investment is to accelerate the digital buying and selling experience, bringing it closer to a live interaction. With Fyusion, Manheim enables dealers to take advantage of 360-degree interactive viewing capability, … Continued
We now know from the IRS statistics that tax refunds have indeed been lower this year as we had feared would be the case. Total refunds are down 1.5% in number and down 2.6% in dollar amount through April 5. The decline amounts to $6 billion less being pumped into consumers’ pockets. The average refund … Continued
Despite tame inflation, Fed patience with raising interest rates, wage gains and other positive economic signs, consumers are increasingly nervous, not about today, but about the future. Consumer sentiment dips: The initial reading on Consumer Sentiment from the University of Michigan fell in March, and the April initial reading was also below forecast. Consumers are … Continued
Auto Remarketing, April 15, 2019 — Two years ago, 59% of vehicle shoppers were focused on used cars. According to the 2019 Cox Automotive Car Buyer Journey study, that number is now 64% — and the struggle around new-vehicle affordability is a major reason why. The numbers reflecting used-leaning shoppers include those that are either A) only … Continued
ATLANTA, April 15, 2019 – Cox Automotive has named Mark Luber to the newly-created role of chief data officer effective today, reporting to Chief Product Officer Marianne Johnson. In this role, Luber will lead the Cox Automotive Data Solutions team and will work across Cox Automotive to unleash the power of its data assets. He … Continued
Auto Remarketing, April 9, 2019 — In this article. Senior Editor Joe Overby explores how certified pre-owned (CPO) vehicles represent an opportunity for the auto industry. While interest in CPO itself is up, it doesn’t appear familiarity has quite gotten there yet. As for the most recently completed month, Cox Automotive reported in Monday’s Auto … Continued
Auto Remarketing, April 9, 2019 — It wasn’t the strongest of starts to the year for used-vehicle sales, but the first quarter closed with the pre-owned market poised to remain at peak levels. The annualized rate of used-car sales in March was more than 39.5 million*, beating year-ago figures by roughly 200,000 units, Cox Automotive manager … Continued
CBT News, April 9, 2019 — First quarter sales data has recently been released for the auto retail industry, and there are several trends that indicate some headwinds and tailwinds for the rest of the year. Here to talk in-depth about what dealers can expect from the Q1 sales is Jonathan Smoke, chief economist for … Continued
The Hill, By Jonathan Smoke, April 9, 2019 — Mexico is arguably our most important trading partner for the automotive market, both for fully-assembled vehicles and, even more importantly, for parts to go into vehicles assembled in the U.S. Of new vehicles sold in the U.S. in 2018, 15 percent were assembled in Mexico. Japan is … Continued