Recent Cox Automotive research shows that dealers have mixed feelings about artificial intelligence and automation. According to a survey of 360 dealers, both franchise and independent, fielded October 2-9, 2024, many dealership employees see the potential in AI:
- Only 20% of dealers say AI tools are too technical or complicated to use and their store
- 40% of dealers say that AI tools can simplify daily tasks+
And yet, many also aren’t quite sure how to put artificial intelligence to use in their roles:
- 41% are hesitant to use AI
- 39% struggle to understand how AI can be used
- Only 23% trust AI to help them do their jobs
It’s no surprise dealers are experiencing this mix of feelings about AI. There has been an influx of AI and automation applications for automotive retail recently, but it isn’t always clear how AI and automation will deliver bottom line results. And these technologies are not all created equal.
There’s good news: Cox Automotive is here to help.
Cox Automotive has long been invested in the power of AI and automation, and dealers have long benefitted from the investment in innovation. The Retail360 vision is continuing to put that power in the hands of dealers, lenders and manufacturers.
Cox Automotive delivers the most powerful, actionable insights in the automotive retail industry. What we mean by “insights” is pieces of information about consumers that dealers and staff couldn’t realistically uncover by manually reading through recent activity in their customer profile or emails—things like their true down payment range and their likelihood to buy.
With Cox Automotive insights, dealers know the shoppers they’ll close them before they even submit a lead. That’s because Cox Automotive’s insights are aggregated from data from 7 out of 10 in-market shoppers using our Autotrader, Kelley Blue Book, and Dealer.com properties.
With these insights, based on consumers’ online browsing behavior and expanding well beyond the information they’ve submitted in lead forms, dealers know exactly what each shopper truly wants—enabling dealers to stay in control and maximize the profitability of every deal. Dealers can use these insights to optimize every part of the car-buying journey, from having the right inventory at the right time to personalizing every website visit.
The power of these insights is elevated by Cox Automotive’s AI-led automation, which puts repetitive tasks on cruise control and enables dealers to do more with less. Automation saves time, and insights inform how to make the most of that time.
The Cox Automotive team is here to help you understand how insights, automation, and other types of AI can drive results. Download our new guide for an overview of these types of AI and more, plus guidance on how to evaluate these tools and examples of AI in action.
