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6 min read
High Interest Rates and Slow Economy Repress U.S. Automobile Dealer Sentiment
09/08/2023
ATLANTA, Sept. 8, 2023 – Overall dealer sentiment in the U.S. held mostly steady in Q3 2023 compared to Q2, as high interest rates and economic concerns weigh heavily on the U.S. auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
8 min read
As Inventory Concerns Begin to Fade, Economic Uncertainty and High Interest Rates Take Center Stage for U.S. Automobile Dealers
06/07/2023
ATLANTA, June 7, 2023 – Overall dealer sentiment in the U.S. improved slightly in Q2 2023, according to the quarterly Cox Automotive Dealer Sentiment Index released today. The current market index is now at 45, up from 43 in Q1 but still below the threshold of 50, indicating that more dealers see the current auto market as weak than see the market as strong. The Q2…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
6 min read
Cox Automotive Dealer Sentiment Index: Strong U.S. Auto Market Performance Expected in Q2
03/09/2023
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below the threshold of 50, indicating more dealers view the current auto…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
3 min read
Cox Automotive Acquires FleetNet America
02/28/2023
ATLANTA (Feb. 28, 2023) – Driven to keep the world’s fleets moving efficiently, safely and sustainability, Cox Automotive today announced the acquisition of fleet industry leader FleetNet America®. With the acquisition, Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market leadership that comes with this joining of our two companies is unmatched in…
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Cox Automotive Mobility
Press Releases
9 min read
Cox Automotive’s Car Buyer Journey Study Shows Growing Frustration with Car Buying Process
01/18/2023
ATLANTA, Jan. 18, 2023 – New research released today by Cox Automotive shows that satisfaction with the car buying process declined in 2022 for the second straight year. The 2022 Car Buyer Journey Study reveals vehicle buyers were frustrated with high prices, limited availability, and the amount of time required to complete the process. Used-vehicle buyers, who are often more price sensitive and face higher interest…
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Car Buyer Journey
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1 min read
CarDealershipGuy Podcast: What’s Next for Car Prices and Auto Lending? | Jonathan Smoke, Chief Economist at Cox Automotive
09/20/2023
Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy Podcast to discuss the state of auto lending and what's to come, how interest rates are impacting the car industry, the No. 1 issue for car shoppers right now, the best and worst car deals on the market, what a UAW strike could mean for the auto industry, winners and losers in the EV space and will used-car…
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News Coverage
Smoke on Cars
1 min read
How the United Auto Workers Strike Could Impact Q4 Sales — Jonathan Smoke | Cox Automotive
09/19/2023
CBT News, Sept. 19, 2023 – Encouraging news of improving sales and affordability over the third quarter arrived amidst a backdrop of concern over a possible labor strike as the deadline for United Auto Workers leaders and Detroit-Three car manufacturers to negotiate a contract drew steadily closer. Now, 13,000 employees are staging a walkout at Stellantis, General Motors and Ford plants across the country, threatening not only…
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News Coverage
Smoke on Cars
1 min read
Why Digital Titling Solutions Are Crucial for Dealership Success
08/22/2023
CBT News, Aug. 22, 2023 – Titling can be a complex and time-intensive part of the car purchase process. With strong sales volumes expected in the back half of the year and car buyers wanting to spend less time at the dealership, the time is now for managers to devise more efficient strategies. On this episode of Driving Solutions, host Jim Fitzpatrick is joined by Kaitlin…
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News Coverage
1 min read
EV Inventory Reaches Critical Mass in U.S.
06/30/2023
Automotive News, June 30, 2023 – Electric vehicles have reached critical mass, outpacing average days' supply of gasoline vehicles at dealerships, according to Cox Automotive, but some dealers still need convincing. EVs are no longer exclusive to the new-vehicle market, said Chief Economist Jonathan Smoke. EV emergence in the used and wholesale market gives them more staying power, he said. "Up until now, this has been…
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Electric Vehicles
EVs
Electrified Vehicles
News Coverage
1 min read
Car Prices Are Starting to Ease as Pandemic Supply-Chain Issues Fade
06/30/2023
Bloomberg, June 30, 2023 – The US new-car market is returning to pre-pandemic norms as supply-chain issues resolve, forcing carmakers to ramp up deals to sustain sales growth. The annual pace of new-car sales likely rose to 15.6 million in June, from 13 million a year ago, according to the average forecast of seven market researchers. Cox Automotive raised its full-year forecast to 15 million, from…
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News Coverage
1 min read
Vehicle Shortages Explained, Car Price Predictions & That Time CDG Bought 50 Chevys — Jonathan Smoke
05/12/2023
CarDealershipGuy Podcast, May 12, 2023 — Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy for a wide-ranging discussion on the automotive industry covering inventory, pricing and how the pandemic has permanently transformed the industry and more. Here's the rundown: Intro (00:51) Our unique market environment (04:12) Jonathan's background (08:45) The Great Digitization (11:46) That time CDG bought 50 Chevys at auction (13:40) Are we in a…
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News Coverage
Smoke on Cars
1 min read
Affordability, EVs, and Digital Retailing: Q1 Performance Sheds New Light on Old Topics – Brian Finklemeyer
04/26/2023
CBT News, April 26, 2023 – As the industry adapts to an unfamiliar automotive landscape, what new challenges will dealers need to face? On this episode of Inside Automotive, Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins anchor Jim Fitzpatrick to discuss the most important takeaways from the last three months of automotive retail performance and what they signal for the future.…
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News Coverage
1 min read
Where Do EV Batteries Go When They Die?
03/29/2023
CNBC, March 26, 2023 – Over 300 million electric vehicles are expected to be on the world’s roads by 2030, according to the International Energy Agency. By 2050, the National Renewable Energy Laboratory expects the demand for graphite, lithium and cobalt, all critical minerals in EV batteries, to increase by 500%. It estimates that the lifetime of an EV battery is around 12 to 15 years…
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Electric Vehicles
EVs
Electrified Vehicles
News Coverage
1 min read
Meet Dealer Beth Beans Gilbert: The 2023 Barbara Cox Woman of the Year
03/22/2023
CBT News, March 22, 2023 – Beth Beans Gilbert, vice president of the Fred Beans Automotive Group, received the 2023 Barbara Cox Woman of the Year Award from Cox Automotive earlier this year. Ken Kraft, chief marketing officer of Cox Automotive, and recipient Beth Beans Gilbert discuss the accolade on today’s Inside Automotive. Watch the Episode.
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News Coverage
1 min read
Used Car Dealer Podcast Episode 48: Interview with Dale Pollak, vAuto Founder and EVP at Cox Automotive
03/13/2023
In this Used Car Dealer Podcast episode, Zach Klempf interviews Dale Pollak, Founder, vAuto and EVP, Cox Automotive. Dale discusses trends in the used vehicle market, as well as why now is the time for dealers to move from Velocity to Variable Management. He also touches on how vAuto’s ProfitTime GPS helps dealers implement a variable inventory management strategy. Watch the Episode.
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Inventory
used-car inventory
ProfitTime
News Coverage
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