ATLANTA, July 13, 2018 – Cox Automotive, in partnership with the National Association of Minority Automotive Dealers (NAMAD), awarded its Rising Star Award to William Montez (Monte) Perkins II, general sales manager with Taylor Chevrolet in Taylor, Michigan. Perkins was chosen based on nomination criteria, including being a NAMAD member under the age of 40 who … Continued
The number of franchised car dealerships and their owners is expected to decline dramatically in the coming years. That’s the prediction of Mark O’Neil, chief operating officer of Cox Automotive, a company with brands that include AutoTrader, Manheim auctions, Kelley Blue Book and Dealer.com. Currently, there are about 16,800 dealerships or “rooftops,” about 2,000 fewer … Continued
That sea of used cars on a dealer’s lot suggests they came from trade-ins, but that’s often not the case. The little-seen world of wholesale auto auctions is where the secret life of used cars plays out: It’s where the companies that sell used cars come to get them. I recently spent the morning at … Continued
ATLANTA – July 9, 2018 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) defied expectations by increasing 0.53 percent month-over-month in June. This brought Cox Automotive’s Manheim Used Vehicle Value Index to 134.9, a 4.3 percent increase from a year ago and its highest level since last October. “We typically anticipate … Continued
By this time of year, used-vehicle demand (unlike the weather) typically cools down a bit. Not the case in 2018. The “steady and strong” retail used-car market keeps chugging along and is likely to reach 39.5 million sales this year, then level out, according to Cox Automotive. That figure would be an increase from 39 … Continued
Each month automotive industry experts from Cox Automotive and its brands host a sales day commentary call to provide insights into the previous month and to answer media questions related to market movement. The audio for the most recent call which covers the June selling month is available. Listen › Automakers reported June 2018 sales … Continued
DETROIT — Physical auto auctions are unlikely to disappear, but their role in vehicle remarketing is shrinking, Cox Automotive COO Mark O’Neil says. That has Cox, parent of auction giant Manheim, increasingly focusing on digital auctions and looking for ways to bolster other remarketing revenue streams. Cox Automotive expects transaction volume for all wholesale auctions … Continued
On this episode of the Weekend Drive podcast, Cox Automotive COO Mark O’Neil joins Jason Stein, Mike Martinez and Mike Wayland from Automotive News to discuss new-vehicle sales predictions, why tariffs could boost used-auto sales, and the shift toward new digital retail platforms. Listen here›
ATLANTA, June 27, 2018 – New-vehicle sales volume in June is expected to rise 2.1 percent from last year, resulting in a seasonally adjusted annual rate (SAAR) of 16.9 million. The June sales pace is up from last year’s 16.6 million rate and is up slightly from the 16.8 million level in May 2018. Through the … Continued
ATLANTA, June 26, 2018 – Cox Automotive awarded its Breakthrough Leader of the Year Award to Nicole Cockcroft, services and parts manager with Headquarter Mazda, part of Headquarter Automotive located in Clermont, Florida. This honor recognizes women leaders who were inspired to transition to the automotive industry from another industry and made an immediate impact in … Continued