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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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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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Fleet Sales Continue to Cool Off, Still Up for the Year 12/06/2019 Strong fleet sales have supported the new-vehicle market this year, but growth is slowing down. Combined rental, commercial and government purchases of new vehicles were down 9.3% year over year in November. Total fleet volume in November was 184,793, compared to 203,777 in November 2018. Through November, fleet sales are up 3.2% and still on course to set an all-time volume record in 2019. Retail sales… Read Article

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Wholesale Prices Decline Again in November 12/06/2019 Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.98% month-over-month in November. This brought the Manheim Used Vehicle Value Index to 138.9, a 0.1% decrease from a year ago, and the second consecutive year-over-year decline for the Index. The accelerating declining trend in weekly Manheim Market Report (MMR) prices that started in September peaked in October and started November still at… Read Article

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This Week in Car Buying 12/05/2019 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 reports that Buick will be closing the books on traditional car sales when it drops its 2019 Regal at the end of the model year run. In discontinuing the Regal and LaCrosse, Buick will become a crossover SUV brand only, and will be adding models… Read Article

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13-Month Rolling Used-Vehicle SAAR 12/05/2019 As another data point to monitor the health of the automotive market, Cox Automotive calculates a 13-month rolling used-vehicle seasonally adjusted annual rate (SAAR). According to Cox Automotive estimates, total used-vehicle sales volume was down 2.7% year over year in November. We estimate the November used SAAR to be 39.7 million, down from 40.8 million last November and up from October’s 39.6 million rate. The used… Read Article

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Cox Automotive Commentary: November U.S. Auto Sales Boosted By Good Deals and Solid Inventory 12/03/2019 While fewer automakers are reporting monthly sales numbers, the team at Cox Automotive has been tracking results as they can. Our take: November was another solid month of auto sales in the U.S. There were plenty of incentives in play and solid inventory at dealerships. According to our Kelley Blue Book team, average transaction prices (ATP) increased to $38,393, up slightly from year-ago levels. Read the… Read Article

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Part I: How Consignors Achieve Millions in Profit Lift By Choosing Manheim As a Strategic Partner for Pricing Wholesale Vehicles 12/02/2019 I regularly speak to consignors about the importance of using technology and data to make faster, smarter decisions. We know that every day is sale day now that nearly half of all wholesale vehicles are purchased through a  digital channel. To address this reality, my team at Manheim developed M LOGIC™, a suite of decisioning products that brings the power of Cox Automotive data and insights to… Read Article

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Cox Automotive Forecast: Strong Incentives Expected to Prop Up November U.S. Auto Sales 11/26/2019 ATLANTA, Nov. 26, 2019 – The November light vehicle market is not expected to be a turkey, according to a Cox Automotive sales forecast released today, but it isn’t expected to fly either. The seasonally adjusted annual rate (SAAR) is forecast to finish near 16.9 million, up from last month’s strike-impacted 16.5 million level, but down slightly from the current 2019 year-to-date pace near 17.0 million.… Read Article

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Dale Pollak Recognized as 2019 All Star in Software Innovation 11/25/2019 Automotive News, Nov.25, 2019 – Automotive News named its 2019 All Stars. Dale Pollak, Cox Automotive executive vice president and founder of vAuto, was recognized for his leadership in software innovation. According to Automotive News, Dale Pollak has redefined the way many dealers have been buying and selling used cars and trucks in the modern age. Read more Read Article

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Auto Market Weekly Summary 11/25/2019 The past week failed to deliver clarity on a number of topics that we had been waiting for while we got good news on housing and concerning news on credit. Global trade uncertainty: The week did not deliver clarity on a Phase 1 trade deal with China or official movement or postponement of new tariffs on autos and parts from Japan or Europe. Likewise, we went… Read Article

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Cox Automotive Commentary: Tesla Pickup Truck Reveal 11/21/2019 UPDATE, Nov. 22, 2019 – With the unveiling of the Tesla Cybertruck, the analysts and editors at Kelley Blue Book and Autotrader provided some initial comments based on what they saw, either live or through the webcast. From Karl Brauer, executive publisher from Kelley Blue Book and Autotrader: The looks are polarizing, but the performance and pricing specs are undeniable. There will be plenty of demand for… Read Article

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