Joe Gumm sits down with Cox Automotive Chief Economist Jonathan Smoke to discuss the fourth-quarter 2017 Cox Automotive Dealer Sentiment Index. This is a new product from Cox Automotive, who issues the survey to a sample of franchises and independent auto dealers around the country, who express how they feel about the current retail auto … Continued
Big changes can be scary for an organization. And transitions like the movement into cloud-based computing can generate apprehension and uncertainty. Patty Smith, vice president and chief information security officer at Cox Automotive, understands those feelings. But she works to ensure that her coworkers are as effective and agile as the technology that she threads … Continued
Here are three troubling statistics about service departments at franchised dealerships: 1. These dealerships typically retain only about half of the customers who buy a new or used vehicle from them or visit their service department with no prior experience with the dealership. 2. The dealerships handle only 30 percent of service work performed each … Continued
Paul Whitworth rebuts a suggestion that car dealers are limited in choosing ways they can stand out in the auto-retailing marketplace. The short-list argument is a dealership may distinguish itself by focusing on, say, big inventory, low prices, top service or deep community roots. But the bill of fare to pick from isn’t much longer … Continued
Dealers are still feeling relatively optimistic about their used-car operations. And for independents, in particular, they’re starting to see some relief from supply shortages — albeit in the form of pricier units. As part of the fourth quarter Cox Automotive Dealer Sentiment Index, franchised and independent dealers were asked for their thoughts on the current used-car … Continued
ATLANTA, Dec. 11, 2017 – Cox Automotive announced today that it has filed a lawsuit against CDK Global LLC (NASDAQ: CDK) (“CDK”) asserting, among other claims, ongoing antitrust and unlawful competition violations. The suit, filed in The United States District Court for the Western District of Wisconsin, alleges that CDK and its non-party co-conspirator The … Continued
Current market seen as more positive by franchise dealers; independents anticipate a positive future ATLANTA, Dec. 11, 2017 – U.S.-based automobile dealers are optimistic about the first quarter of 2018 and believe inventory issues of earlier this year have mostly subsided, according to insights found in the fourth-quarter Cox Automotive Dealer Sentiment Index (CADSI) released … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchise and independent auto dealers, the Cox Automotive Dealer Sentiment Index measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks dealers to rate new-car sales and … Continued
Car buying is about to get better. Consumers are demanding change, and dealers should be as well. The separation between our digital and physical lives has become razor thin, even nonexistent in many cases. What we do and how we interact digitally plays directly into our real-world lives, and vice versa. We’ve seen many industries … Continued
Dealers are positive about the next quarter, but that optimism varies widely by region, a Cox Automotive survey found. The quarterly Cox Automotive Dealer Sentiment Index, released today, is the equivalent of a consumer confidence index, showing how U.S. dealers feel about the current automotive market and prospects for the next 90 days. It also … Continued