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Cox Automotive Makes Bold Move with Subscription Services September 12, 2018 CBT Automotive is speaking today with Cox Automotive members: Joe George, president of Mobility Solutions, David Liniado, vice president of New Growth and Development, and Vince Zappa, president of Clutch Technologies to discuss the future of the automotive industry, and find out what consumers really want. Cox Automotive is expanding their business model to include a new branch of the automotive industry, vehicle subscription services. By acquiring… Read Article

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Slowing OEM Production to Fuel Affordability Challenge, Analyst Says December 6, 2018 Recent OEM exits of lower-priced vehicle segments will limit availability and squeeze auto affordability in 2019, said Jonathan Smoke, chief economist at Cox Automotive Inc. “We’re starting to see announcements from major manufacturers about ceasing production of mostly more affordable cars, and so that reduces the number of units available for sale,” Smoke said. In late November, General Motors announced plans to scrap production of most… Read Article

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Autotrader expands footprint to Australia December 5, 2018 After two years of working with dealers there, Autotrader has officially launched in Australia. Parent company Cox Automotive made the announcement Tuesday. “We’re thrilled to be launching this innovative automotive platform in Australia. Buying a car is a big decision that can come with a lot of risk. Autotrader’s goal is to reduce this risk by providing greater transparency and facilitating stronger trust in the seller… Read Article

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U.S. November car sales surprise on upside December 3, 2018 Holiday season deals propped up U.S. auto sales in November, limiting the scale of annual falls at some carmakers and putting overall figures on course to top analysts’ expectations, numbers from several top producers showed on Monday. No.1 carmaker General Motors posted a roughly 1 percent rise in sales, according to a source familiar with the numbers, compared with a fall of more than 2 percent… Read Article

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American buyers continue to abandon the trusty car December 3, 2018 Even Black Friday sales couldn’t save the sedan. Automakers largely reported that cars dragged on U.S. sales last month, in some cases despite booming SUV and truck sales. Meantime, Fiat Chrysler Automobiles, which has been phasing cars out of its lineup, reaped the rewards in November. The November sales results beat some analyst expectations, as most automakers reported smaller sales slips than expected. But U.S. consumers… Read Article

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How to Minimize Car Buying Time at Your Dealership November 29, 2018 As you may know, the F&I Department is perhaps the most rapidly-changing area of the dealership. From e-contracts to digital menus, you might be asking yourself “How can I use this new technology to enhance customer experience?” In this segment, CBT’s Jim Fitzpatrick speaks with Mazen Letayf, Associate Vice President of Product Management for Cox Automotive’s Dealertrack to discuss ways to reduce the amount of time… Read Article

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2019 will bring sweet deals on America’s favorite vehicles, SUVs November 26, 2018 Shoppers could be in luck next year as a flood of new and lightly used SUVs creates bargains on America’s most popular vehicles. 2019 could be a year of great deals on SUVs as incentives on new models rise and off-lease, late-model used SUVs hit the market in unprecedented numbers. Smaller SUVs like the Ford Escape, Hyundai Santa Fe, Toyota RAV4 and Chevrolet Equinox should be… Read Article

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Online auctions key to wholesalers’ future November 19, 2018 While digital auction sales will continue to grow, it remains to be seen how much of the industry's wholesale auction volume eventually will go online and by how much that will pull sales from physical auctions. The two largest players — Cox Automotive's Manheim unit and KAR Auction Services' ADESA arm — are not sitting idly by for the answers. Both are diving headlong into the… Read Article

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Don’t dismiss warnings of retail upheaval November 19, 2018 How many times since 1897 — when Detroiter William Metzger opened the country's first new-car showroom to sell Waverley electrics — has the future of auto retailing been called into question? Far too many to count. So it's understandable why some dealers can listen to doom-laden talk about the changing auto ecosystem and remain blase and incurious. Hasn't there always been a "retail revolution" of some… Read Article

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Battle of the Bots: How to Combat Digital Ad Fraud November 19, 2018 The importance of digital advertising is undisputed. By the end of 2018, an estimated $273 billion will be spent on digital advertising, accounting for approximately 43% of global advertising dollars, according to an eMarketer report. In the automotive industry, digital advertising has become particularly important. Customers now spend 60% of their time online during the car-buying process, according to the 2018 Car Buyer Journey by Cox… Read Article

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NextGear Capital Transacts $1B of Non-Auction Purchases With Floorplan Tool November 19, 2018 NextGear Capital has financed more than $1 billion of non-auction dealer purchases through floorplan tool Rapid Pay since the start of the year. “We are giving our dealers funding before we have that title in hand,” Sarah Lutey, director of corporate strategy at NextGear Capital, told Auto Finance News. Lutey was referring to a Rapid Pay feature, unveiled in March, that initiates funding requests upon notice… Read Article

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