ATLANTA, Nov. 28, 2018 – According to a forecast released today by Cox Automotive, the new-vehicle sales pace in November is expected to be 17.1 million units, a decrease from October’s strong 17.5 million level, but on pace with the market’s 2018 overall average. “The market continues to outperform our earlier forecast with expected headwinds … Continued
ATLANTA, Nov. 27, 2018 – Sid Nair is joining Cox Automotive as chief sales officer effective today, reporting to President Sandy Schwartz. In his new role, Nair will oversee the entire Cox Automotive sales operation and marketing in the U.S. The sales and marketing team comprises nearly 2,500 team members serving clients from offices throughout … Continued
Shoppers could be in luck next year as a flood of new and lightly used SUVs creates bargains on America’s most popular vehicles. 2019 could be a year of great deals on SUVs as incentives on new models rise and off-lease, late-model used SUVs hit the market in unprecedented numbers. Smaller SUVs like the Ford … Continued
While digital auction sales will continue to grow, it remains to be seen how much of the industry’s wholesale auction volume eventually will go online and by how much that will pull sales from physical auctions. The two largest players — Cox Automotive’s Manheim unit and KAR Auction Services’ ADESA arm — are not sitting … Continued
How many times since 1897 — when Detroiter William Metzger opened the country’s first new-car showroom to sell Waverley electrics — has the future of auto retailing been called into question? Far too many to count. So it’s understandable why some dealers can listen to doom-laden talk about the changing auto ecosystem and remain blase … Continued
The importance of digital advertising is undisputed. By the end of 2018, an estimated $273 billion will be spent on digital advertising, accounting for approximately 43% of global advertising dollars, according to an eMarketer report. In the automotive industry, digital advertising has become particularly important. Customers now spend 60% of their time online during the … Continued
NextGear Capital has financed more than $1 billion of non-auction dealer purchases through floorplan tool Rapid Pay since the start of the year. “We are giving our dealers funding before we have that title in hand,” Sarah Lutey, director of corporate strategy at NextGear Capital, told Auto Finance News. Lutey was referring to a Rapid … Continued
#RallywithRodi campaign raises $60,000 and awareness to fight prostate cancer ATLANTA, Nov. 16, 2018 – Cox Automotive presented its 2018 Community Impact Award to Joe Rodi, national auction manager, Chase Auto, at the 2018 National Remarketing Conference/NAAA Convention during an awards luncheon on November 15. This annual award is sponsored by Manheim, a Cox Automotive … Continued
Carmakers and consumers can breathe a collective sigh of relief that it’s business as usual — for now. The Trump administration is holding off on imposing new tariffs on car imports as government leaders consider revisions to a report on the national security implications, according to a Bloomberg report. President Donald Trump has threatened a … Continued
Alternative vehicle ownership is becoming increasingly popular among consumers and here to help us navigate through this constantly evolving industry is Rachelle Petusky, research and market intelligence executive for Cox Automotive’s Mobility Group. Today, CBT’s Jim Fitzpatrick and Rachelle discuss phase 2 of their mobility study: A Dealer’s Perspective. Phase 3 will look at consumers’ … Continued