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Younger Generations Could Provide Answer to Dealership Turnover Issue 07/23/2019 ATLANTA, July 23, 2019 – As employee turnover across the U.S. reaches new heights and competition for talent redefines the workforce, dealerships find themselves at the epicenter of the struggle to attract and retain skilled workers. Fortunately, the Cox Automotive 2019 Dealership Staffing Study reveals an optimistic forecast with younger generation showing a greater interest in dealership jobs than older generations. According to the latest study,… Read Article

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U.S. Auto Dealer Sentiment Remains Slightly Negative, Despite Stronger Traffic, Profits 06/10/2019 ATLANTA, June 10, 2019 – According to data from the Q2 2019 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. auto dealer sentiment is similar to the first quarter as the overall current market index remained in negative territory. The current market index – a measure of business conditions in Q2 2019 – rose one point to 49, which is not a statistically significant increase. Again… Read Article

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Car Buyers Visiting Fewer Dealerships, Making Faster Decisions as Online Engagement Rises 04/15/2019 ATLANTA, April 15, 2019 – According to a new study released today by Cox Automotive, budget-minded, time-strapped, tech-savvy U.S. car buyers are spending a higher percentage of their shopping time online and less total time in market as they hunt for their perfect ride. The 2019 Cox Automotive Car Buyer Journey study also indicates consumers continue to be frustrated by new-vehicle prices and are more likely than… Read Article

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Head of the Class: Ford, Mercedes-Benz Named Valedictorians in New Retail Brand Scorecards Study 01/24/2019 SAN FRANCISCO, Jan. 24, 2019 – As auto dealers from across the country gather in San Francisco for the annual NADA convention, top honors were given to Ford and Mercedes-Benz in the non-luxury and luxury categories, respectively, in a new study released today. The comprehensive study measures and compares core brand attributes that most impact dealer performance. The Retail Brand Scorecards are compiled by Cox Automotive… Read Article

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Retail Auto Sales to Drop Further as Alternatives to Ownership Become More Accessible and Affordable, According to Final Phase of Cox Automotive Evolution of Mobility Study 01/17/2019 ATLANTA, January 17, 2019 – Retail auto sales in the U.S. could drop as much as 29 percent as alternatives to traditional vehicle ownership becomes more accessible and affordable, decreasing the amount of miles consumed by personally owned vehicles. This is the key finding in Phase No. 3 of the Cox Automotive Evolution of Mobility Study, released today. The latest study shows how the cost of… Read Article

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This Week in Car Buying 08/23/2019 Kelley Blue Book’s Senior Managing Editor Matt DeLorenzo writes This Week in Car Buying, a weekly column on KBB.com. In this week’s news, Matt gives us the rundown on the 2020 Bolt EV that will now go 259 miles between charges, up from the previously announced 238. We also learn that through Silvercar by Audi, a car rental service devoted exclusively to Audi models, the German automaker… Read Article

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Annual Miles Driven Per Capita Plateaued Near 12,500, About 750 Miles Below All-Time Peak 08/22/2019 Annual per capita miles driven in the United States has plateaued since the Great Recession. In the mid-2000s miles driven peaked at around 13,200 per capita (population aged 16+) then decreased every year between 2006 and 2014. A tepid, flat-income economic recovery combined with historically higher fuel prices significantly increased the real cost of operating a vehicle for the average household. With the collapse of fuel… Read Article

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California Vital to Automakers Volunteering to Meet Stricter Fuel Economy Rules 08/21/2019 Four major automakers recently announced they had agreed to voluntarily meet California’s tougher fuel economy standards, while the Environmental Protection Agency attempts to weaken federal fuel economy rules. BMW, Ford, Honda and Volkswagen have said they will increase the fuel economy of their fleets under California rules, which are looser than those proposed by the Obama administration but stricter than what the Trump administration has proposed.… Read Article

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New Study Offers Blueprint for Dealership Fixed Ops Staffing Success 08/19/2019 Automotive News, Aug. 19, 2019 -- The shortage of talented auto service technicians is acute and growing. The turnover of service advisers at new-vehicle dealerships has come to resemble a revolving door. Workers younger than baby boomers aren't especially interested in dealership jobs, including those in the service department, parts desk and body shop. Even as franchised dealerships must rely on service revenue for an ever-greater share… Read Article

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CPO Gains Some Year-Over-Year Steam to Start 2nd Half 08/19/2019 Auto Remarketing, Aug. 19, 2019 -- It was a great start to the second half of the year for the certified pre-owned car market. There were 236,579 CPO vehicle sales in July, which beat year-ago figures by 6%, despite trailing June figures by 2%, says a new Data Point report from Cox Automotive, which cites Motor Intelligence data. This follows a first half where sales were up… Read Article

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Misconceptions About EVs Hindering Demand 08/19/2019 Automotive News, Aug. 19, 2019 -- Cost and practicality are deterring customers from buying electric vehicles, according to a Cox Automotive study. But Cox says much of the concern is based on misconceptions. "A lot of it is misconception and an education opportunity for manufacturers and dealers," said Rachelle Petusky, manager of research and market intelligence for Cox Automotive's mobility group. "Their understanding of EV is… Read Article

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Tesla Is An EV Brand Awareness Juggernaut Compared To Competition 08/19/2019 Forbes, Aug. 19, 2019 -- When it comes to electric vehicle brand awareness in the marketplace, Elon Musk’s Tesla by far surpasses all others, according to a study released Monday by Cox Automotive. When asked what brands of electric vehicles they were aware of, 81% of consumers responding who said they are considering an electric vehicle purchase named Tesla. Far behind were Toyota Motor Co. at 52%, Chevrolet… Read Article

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Cox Automotive Evolution of Mobility Study: The Path to Electric Vehicle Adoption Study Released 08/19/2019 Dealers and automakers are in the driver’s seat when it comes to laying a positive foundation for the nearly 100 new electrified models scheduled to arrive in the U.S. market in the next few years. However, without collaboration between the two groups, clearing up the common misconceptions facing electric vehicles (EV) could delay widespread adoption, according to the Cox Automotive Evolution of Mobility: The Path to… Read Article

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Overcoming Electric Vehicle Misconceptions is Crucial to Converting Consideration to Sales 08/19/2019 ATLANTA, Aug. 19, 2019 – Dealers and automakers are in the driver’s seat when it comes to laying a positive foundation for the nearly 100 new electrified models scheduled to arrive in the U.S. market in the next few years. However, without collaboration between the two groups, clearing up the common misconceptions facing electric vehicles (EV) could delay widespread adoption, according to the Cox Automotive Evolution… Read Article

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Auto Market Weekly Summary 08/19/2019 Last week was a week filled with new economic data and financial market volatility. More than half of the week’s new data point to continued strength and even promising improving trends supportive of growth in the U.S. economy. The other half raises concern. Retail sales strong: Retail sales were strong in July, as Amazon Prime Day and back-to-school sales boosted online and physical store sales. Permit activity… Read Article

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