Dealers say the auto market is strong and expect it to remain so in the near term, but their profitability is constrained by market conditions and competition, a Cox Automotive survey designed to gauge dealer sentiment found. The newly launched Cox Automotive Dealer Sentiment Index, released today, is the equivalent of a consumer confidence index, … Continued
After being asked how they would describe the current used-vehicle sales environment, the view is a bit rosier for franchised dealers than for independent dealers, but overall, the view leans toward positive. And sentiment is on the upswing for independents. That’s one finding in the debut edition of the Cox Automotive Sentiment Index, a new … 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 … Continued
Auto Remarketing recognized 13 Manheim auction locations as Best Auto Auctions to Work For 2017. These awards are particularly significant because they are determined by Manheim team members. By providing their viewpoint on workplace life, they catapulted these locations to the top of their auction peer group and secured the award for their auction. Below … Continued
Munich, Germany, Sept. 14, 2017 – incadea, a leading global provider of automotive retail solutions and a Cox Automotive brand, announced the appointment of Allan Stejskal, as chief executive officer, effective immediately. Stejskal has a long track record of innovation and extensive executive leadership background across leading automotive organizations in United States. With 20 years … Continued
As the auto industry continues to move forward, some are curious as to what the rest of 2017 will look like considering the recent hurricanes. They’ve already impacted the SAAR for August, gas prices nationally, and the loss of more than 500,000 vehicles. In an interview with Jim Fitzpatrick, CBT News, Jonathan Smoke, chief economist … Continued
Auto sales this year have been flat, as predicted. That doesn’t necessarily mean doom and gloom for dealers. But dealers cannot rely on new-vehicle sales alone. It’s time to look harder at other avenues to drive profitability. Which areas need more focus so we can maintain or even increase profit growth? The untapped opportunity lies … Continued
Once damages are finally tallied, Hurricane Harvey will likely prove to be among the worst, most-costly natural disasters to hit our United States. In addition to the heartbreaking loss of life, damages have been estimated by Moody’s Analytics to be in the range of $77 to $97 billion. That’s bigger than Sandy and getting close … Continued
The used-vehicle industry appears to be in better position to welcome extra demand stemming from destroyed units strewn within the path of Hurricane Harvey. But can individuals who lost so much in Houston and elsewhere in the Gulf region handle the potential extra cost of securing new transportation? That’s what experts are now considering. During … Continued
Cox Automotive chief economist Jonathan Smoke on Friday estimated vehicle losses caused by Hurricane Harvey to come in between $2.7 billion and $4.9 billion in the Houston market alone. While that projected figure includes dealerships’ used-vehicle inventory since those units are classified as vehicles in operation, Smoke indicated that loss figure could swell even more … Continued