Cox Automotive’s study credits digital retailing tools with saving time in car buying and improving customer satisfaction while offering dealers opportunities to create more personalized experiences.
DRIVE has proven to be a valuable resource to better understand the needs of independent dealers.
New general managers named for Manheim Chicago Market and Manheim Houston.
The Q3 report is the fifth consecutive quarter with dealer sentiment below the 50 threshold.
The average transaction price of a new vehicle in August was $48,451, up only $42 from one year ago.
Fusion Auto Finance is now able to consolidate its multiple disparate platforms into a single, seamless experience.
Together, Kelley Blue Book Instant Cash Offer, vAuto and the Manheim Marketplace help dealers take in vehicles at the right price while promising a profitable exit for wholesale units.
Forward-thinking dealers who embrace digital technology and automation within their overall operations have a 64% higher net profit vs. static dealers.
Cox Automotive surveyed more than 500 dealerships at various stages of implementing future-forward strategies designed to help them overcome future challenges.
The study surveyed 1,024 consumers and 152 dealers, comparing data points from EV research conducted by the company over the last several years.
According to the Cox Automotive Dealer Sentiment Index, 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.
These leaders represent a combined 40 years of experience working closely with Manheim’s clients and teams to achieve mutual success.