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The annual forecast for U.S. light-vehicle sales fell to 16.41 million as volume fell 2.3% year-over-year in an April that was expected to bring the year’s first gain following an underwhelming first quarter.
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Cox Automotive’s 2019 Car Buyer Journey report finds consumers are spending less time in dealerships and in the market, accelerating the decisionmaking process as a growing affordability gap continues to threaten new-vehicle sales.
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Cox Automotive’s auction brand will offer ‘next-generation’ vehicle imaging technology to dealer users through a strategic partnership with Fyusion.
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Mark Luber has been named Cox Automotive’s first chief data officer, tasked with leading a 150-person team comprised of experts in data science, product management, analytics, and more.
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The unified companies will leverage a vast network of F&I product providers and new technology to innovate for dealers, agents, providers, and lenders.
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Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
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The tech firm confirmed this week reports that COO Mark O’Neil plans to retire this February. He’ll depart almost four years after Cox’s acquisition of Dealertrack, a company he led as CEO for about 14 years.
Read More →Responding to dealer feedback, the Cox Automotive brand has added a 30-day return option to its DS360 wholesale risk management offering. The guarantee is now available at 100 auction sites, guaranteeing 1.3 million vehicles.
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Adding LendingTree's capabilities to the Autotrader and Kelley Blue Book sites allow car buyers to research, shop and secure financing on a vehicle all in one spot.
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The announcement marks Rowe's return to the company where he started his digital marketing career nearly 20 years ago. It also marks his return to the car business.
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