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The San Francisco startup announced its partnership with Cox Automotive last week. According to officials, the relationship will help Shift expand operations with reduced capital investment and drive efficient launches in markets where Manheim has a presence.
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It’s not just the wave of off-lease vehicles expected to return to the market this year and next, it’s the type of vehicles returning that could stunt new sales. Rising interest rates, however, could turn the tide for the new-vehicle market.
Read More →Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
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The fourth-quarter reading of the Cox Automotive Dealer Sentiment Index shows dealers are optimistic about the next three months. Concerns about price pressure and showroom traffic persist.
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Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
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Dealer technology expert believes empathy, intelligence, attention to detail, a winning mindset, and teamwork are essential components of an effective tech support team.
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Cox Automotive’s Jason Barrie, who has helped drive Dealertrack’s evolution from credit application portal to an enabler of sales and F&I workflow since 2005, says technology won’t kill F&I. He will be at Industry Summit 2017 to explain why.
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It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.
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Cox Automotive and Holman Enterprises have announced the launch of Flexdrive, a joint venture designed to offer a subscription option to new-car buyers.
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Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
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