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Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
Cox Automotive announced the promotion of Holly Capps to senior vice president of Manheim sales, where is she is expected to prioritize a stronger alignment among sales teams.
U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.
A Cox Automotive report finds high demand for automation and AI technology among dealers and their customers. But dealers cited cost and their staffs’ inability or unwillingness to adopt new tools and update processes as major obstacles.
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.
Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
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.
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.
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.
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.