Used-vehicle retail sales have continued tracking at an annual pace near 39 million units, according to a sales forecast released this week by Edmunds. The company is projecting 3.2 million used-car sales for October, which would be even with September. The seasonally adjusted annualized rate for used sales in October would be 38.9 million units, … Continued

Millennials lead the way when it comes to calling it quits at car dealerships, where employee turnover has been a chronic issue. Cox Automotive’s 2017 Dealership Staffing Study says the turnover rate for 20- and 30-something Generation Y’ers is 52%, meaning, on average, every other Millennial who hires on at a dealership ends up leaving. … Continued

The first thing you might have noticed at Manheim Atlanta earlier this year was a countdown and buttons worn by employees that notified sale attendees that “a change is coming.” That change they were specifically referring to was Manheim’s investment in a widespread technology update and redesign of some of its auction processes, a change … Continued

The following is excerpted from Like I See It: Obstacles and Opportunities Shaping the Future of Retail Automotive by Dale Pollak. If I needed investment advice, I probably wouldn’t go to a car dealer or a used vehicle manager. To be sure, I’ve come to respect dealers and used vehicle managers for their savvy and … Continued

The Federal Emergency Management Agency said Friday that during the next seven days, 20 million meals and more than 11 million liters of water would be arriving on Puerto Rico. After confirming the safety of all 30 employees on the island, Cox Automotive put in motion a variety of initiatives to help the Manheim Caribbean … Continued

Despite a strong September, Columbus Day weekend car-shopping activity was down this year, according to new data from Dealer.com and Dealertrack (divs. Cox Automotive). Analysts reported a 5% decrease in dealership visits and a 3% drop in dealer website visits when compared with traffic from the six prior weekends. The decrease can in part be … Continued

In the automotive industry, more than half of dealership gross profit margin goes to payroll, which means the impact your employees can have on your customers and on your culture can be significant. According to the 2017 Cox Automotive Dealership Staffing Research, which was conducted on behalf of Cox Automotive by KS&R with consultation from … Continued