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Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
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Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
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Cox Automotive Rates & Incentives now features automated data input, dynamic transaction templates, and advertised specials, all designed to deliver data faster and with improved accuracy.
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U.S. sales of new cars and light trucks fell 1.2% year-over-year in August, a sales month that extended through the Labor Day weekend and set new records for Honda, Toyota, and Subaru.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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Cox Automotive’s 2019 Dealership Staffing Study finds approximately 20% of dealership staff are likely to look for another job in the next six months, a problem that could be solved with a greater focus on attracting younger generations to dealership work.
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Eddie Hall III, general manager at Royal Oak, Mich.-based The Hall Automotive Group, has been named this year’s Rising Star Award winner by Cox Automotive and the National Association of Minority Automotive Dealers.
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U.S. dealers sold 2.6% fewer new cars and light trucks in June than in the same month a year ago, but standout performances in key segments kept the seasonally adjusted annualized selling rate above 17 million for the second straight month.
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Cox Automotive analysts say U.S. dealers reported strong traffic and profits but have remained largely pessimistic in their view of the auto retail market in the second quarter.
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U.S. dealers sold slightly fewer new vehicles last month than in May of 2018, but the annual forecast increased to 17.4 million units — thanks in no small part to strong fleet sales.
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