Cox Automotive Leads the Strategy to NADA 2023 with New Options for Retail, Stock and EV Readiness

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ATLANTA, Jan. 18, 2023 – When the Nationwide Vehicle Sellers Affiliation’s annual gathering will get underway later this month, Cox Automotive will likely be showcasing a set of latest providers and options to assist the {industry} deal with a slowing market and shoppers more and more anticipating a extra digital, related vehicle-buying expertise. Cox Automotive, the world’s largest automotive providers and options supplier, would be the largest exhibitor on the present, held for the primary time on the Kay Bailey Hutchison Conference Middle in Dallas, Texas.

The Cox Automotive show will cowl greater than 27,000 sq. toes of expo house and embody the Energy Up dwell stage, greater than 200 demonstration stations, and 30 non-public assembly rooms. Lined up end-to-end, the LED show screens all through the house would stretch throughout half a soccer area. The stand at NADA 2023 is Cox Automotive’s largest ever.

“With a difficult market forward, we predict it’s extra necessary than ever to be showcasing the various sensible options we provide that may assist sellers efficiently develop their profitability and ship the omnichannel expertise shoppers anticipate,” stated Cox Automotive President Steve Rowley. “Now’s the time for our {industry} companions to put money into the options that assist make automobile shopping for extra environment friendly for everybody.”

Good Options to Make Automotive Shopping for Higher

Current analysis from Cox Automotive signifies that satisfaction with the automobile shopping for course of declined in 2022 for the second straight yr. Satisfaction with the automobile shopping for course of peaked in 2020, due partially to widespread adoption of digital and distant automobile shopping for instruments. Excessive costs and restricted stock, nonetheless, have resulted in additional frustration with each the market and the method.

“Cox Automotive continues to pursue new and modern methods to assist purchasers and shoppers thrive within the age of digital transformation,” stated Cox Automotive’s Chief Product Officer Marianne Johnson. “And our portfolio of sensible options is backed by the {industry}’s strongest client intelligence, car intelligence and market intelligence.”

In 2023, Cox Automotive will likely be launching greater than 20 new merchandise and can enhance present merchandise with greater than 70 integrations to assist present higher outcomes for purchasers who make the most of a number of Cox Automotive options. By way of the pursuit of continuous enchancment, the engineering groups at Cox Automotive plan to deploy greater than 12,000 new options and product enhancements within the coming yr.

On the heart of the corporate’s broad portfolio of latest and improved merchandise is an expansive information intelligence engine that powers Cox Automotive’s broad means to ship invaluable enterprise insights, providers and options to the corporate’s many purchasers and to the auto {industry} as a complete. DRiVEQ is the Cox Automotive information intelligence functionality that’s fueled by the biggest breadth of first-party information within the automotive ecosystem – greater than 2.3 billion on-line interactions a yr. Working with 80 million leads and 20 million transactions yearly, Cox Automotive works to construct higher merchandise and actionable intelligence that drives higher enterprise outcomes.

At NADA, Cox Automotive will likely be showcasing new merchandise and capabilities throughout three operational disciplines which can be vital to consumer success. These three focus areas are: 

  1. ​Reworking the Transaction
  2. Optimizing Stock Channels
  3. Constructing EV Readiness

“With 200 demonstration stations obtainable throughout our show house at NADA this yr,” added Chief Product Officer Marianne Johnson, “I believe we’re greater than able to showcase how Cox Automotive merchandise and options will help our purchasers thrive in any enterprise atmosphere.”

Reworking the Transaction

At NADA 2023, Cox Automotive will likely be showcasing an industry-first resolution that may assist make retail transactions quicker, extra personalised, extra correct and extra constant for everybody concerned. Retail360 is rooted within the idea of the Energy of One—one view of the buyer and automobile deal from one accomplice, creating extra satisfying experiences for each automobile patrons and dealership personnel.

Retail360 gives a whole, personalised view of the automobile purchaser’s journey and one deal workflow.  It’s a premium, upgraded retail expertise that features Autotrader, Vendor.com, Dealertrack, Kelley Blue Guide and VinSolutions, guided by Cox Automotive’s first-party information insights and industry-leading capabilities. Dealerships who deploy a number of Cox Automotive options are averaging 23% increased shut charges, 63% extra leads, and $187,000 per thirty days extra in revenue. 

“In the present day’s automotive market is extra aggressive than ever, the place sellers are confronted with scarce stock, growing charges, and patrons or trade-ins which can be more durable than ever to seek out,” stated Lori Wittman, president of retail options at Cox Automotive. “Retail360 transcends this disruption so sellers can predict, attain, and convert potential patrons forward of their competitors and ship much less irritating and extra satisfying automobile shopping for experiences.”

Beta assessments of the brand new Retail360 resolution reveal sellers now can:

  • Know their prospects higher with real-time unique insights and deal intelligence  
  • Get one view of the buyer, their previous purchases, service historical past, lifetime spend, and present stage of their shopping for journey  
  • See one view of the deal to handle profitability and streamline deal workflows to boost the automobile shopping for expertise 
  • Keep on the identical web page with shoppers with to-the-penny pricing, and one constant expertise 

“Our particular person manufacturers have been delivering distinctive outcomes for sellers for many years,” added Tracy Fred, senior vp of supplier options at Cox Automotive. “Retail360 packages the facility of those manufacturers in a complete new method and involves dealerships simply in time to ease the enterprise headwinds they face, as a part of Cox Automotive’s promise to rework the retail transaction.”

Optimizing Stock Channels

For a lot of the previous yr, ‘restricted Stock’ was recognized as the highest issue holding again enterprise by auto sellers throughout the U.S. Within the face of this problem, Cox Automotive has been notably targeted on growing modern options to assist make stock acquisition extra environment friendly, particularly as digital transactions proceed to rise.

“At the start, our prime precedence continues to be ensuring that the digital shopping for expertise is nearly as good as being there in individual, as 75% of Manheim’s transactions went to a digital purchaser in 2022,” stated Grace Huang, president of Cox Automotive Stock Options. “Our journey towards the {industry}’s greatest car data accelerated with the acquisition of Fyusion and continues with much more enhancements that ship purchasers essentially the most complete view of the car within the {industry}.”

At NADA 2023, Cox Automotive and Manheim will showcase extra superior imaging functionality with new Fyusion-powered fastened imaging tunnels (previously often known as gantries), in addition to undercarriage imaging, which Manheim deployed at 39 places in 2022. The undercarriage photos are unmatched in high quality, enabling purchasers to zoom in and pan throughout to visually examine even the tiniest of particulars just like the serial quantity on a muffler or perhaps a small oil leak. Collectively, these imaging applied sciences will proceed to raise belief and transparency within the wholesale market for each purchaser.

At NADA, Cox Automotive may also be confirming new markets for the corporate’s Upside Direct gross sales mannequin. Upside, a brand new method to wholesale, has delivered greater than $3 million in revenue sharing again to purchasers because it launched in 2022. The brand new method continues to show that sellers can generate income on each car by leaning into the Kelley Blue Guide Immediate Money Supply and Upside course of.

Recognizing that sellers will want a brand new playbook in 2023, vAuto may also be demonstrating at NADA contemporary enhancements to the corporate’s flagship resolution, ProfitTime GPS. The brand new options and capabilities will assist sellers consider and value stock extra successfully and in the end assist them execute a “Variable Stock Administration” technique to make sure profitability. 

The aim of vAuto’s Variable Stock Administration is to make use of Cox Automotive’s huge information to assist strategically value every car in stock to optimize its ROI. In the end, by executing the technique, sellers could make higher stock acquisition and pricing choices and preserve their stock ranges in verify, which is especially necessary on this unpredictable market. Utilizing vAuto’s Variable Stock Administration technique, sellers are capable of perceive every car’s inherent funding worth on the level of acquisition and guarantee they’re capturing all of the earnings they will, and will, with every car sale.

“We’ve come to comprehend {that a} one-size-fits-all method to a supplier’s used-vehicle stock is just not the best method in as we speak’s market; sellers are promoting some automobiles too quick and too low cost, and holding on to different automobiles for earnings that may by no means come,” famous Dale Pollak, founding father of vAuto. “Thanks to higher information science and market insights, we are able to now acknowledge every car in a supplier’s stock for its distinctive, particular person potential to create a return on funding. That’s the core of the Variable Stock Administration technique.”

Constructing EV Readiness

In 2022, battery-powered electrical automobiles (EVs) gross sales had been a spotlight in a largely down market, rising yr over yr by greater than 65%. Within the yr forward, Cox Automotive is forecasting a milestone for the U.S. auto {industry}: A million EVs offered. New fashions with extra vary, quicker charging occasions, and extra enchantment than ever are fueling EV gross sales development within the U.S.

Because the car market shifts and evolves with extra EVs on street, Cox Automotive will proceed to put money into EV readiness. At NADA, Cox Automotive will likely be showcasing the following section of its pioneering method to EV Battery Well being scoring and diagnostics that may set the muse for the {industry} normal in EV battery inspection and valuation with the corporate’s VIN-specific battery grading system, inbuilt partnership with Spiers New Applied sciences (SNT). The pilot of Cox Automotive’s new EV Battery Well being cellular app and Bluetooth® dongle will launch at 10 Manheim places throughout the U.S. in 2023.

“We take delight in our EV battery diagnostic device and grading system,” stated Lea Malloy, AVP of EV Battery Options, Cox Automotive Mobility. “Our impartial, third-party normal for EV battery well being diagnostics is unmatched within the {industry}.”

Not like the grading programs of different EV battery diagnostic instruments, which offer a normal battery estimate primarily based on make and mannequin, Cox Automotive’s cellular Battery Well being device straight evaluates every automobile and gives VIN-specific data, which is important in capturing correct data across the well being of the battery. The simple-to-use device measures present battery situation, historic information (occasions, temperatures and varieties of fees) and efficiency, which the corporate’s patented well being algorithm then makes use of to provide a VIN-specific battery rating starting from 1-5. That rating, together with data on the battery’s present estimated vary, is all included within the EV Battery Well being Report.

“To fulfill the long run development of EVs at our Manheim places, we’ve been investing in infrastructure and know-how to service and help our purchasers’ future EV battery wants,” stated Huang. “Making a trusted battery well being rating helps our efforts to construct an {industry} normal for battery well being whereas delivering the kind of car data purchasers require.” 

Cox Automotive is dedicated to being the world’s greatest battery well being innovator and end-to-end EV battery lifecycle providers supplier, providing environment friendly and sustainable options that allow the extension of battery first lives and end-of-life reuse and pre-treatment recycling. The corporate’s world EV battery service community, operated in collaboration with Spiers New Applied sciences, has devoted places throughout the U.S. and Europe.  

Cox Automotive and SNT’s breadth of expertise and depth of information is second to none within the superior automotive battery pack providers {industry}. Present purchasers embody Ford Motor Firm, Normal Motors, Jaguar Land Rover, Nissan North America, Porsche Vehicles North America, Stellantis, Subaru of America, Toyota Motors North America, Volkswagen Group of America and others. SNT at present works with greater than 25 totally different car battery varieties, which encompasses most world battery producers, together with LG, Panasonic, Samsung, Bosch, CATL, A123, Johnson Controls, and Automotive Vitality Provide Company (AESC).

For extra details about Cox Automotive on the NADA Present 2023, or to talk to anybody on the Cox Automotive staff, attain out to the Cox Automotive Public Relations staff. The NADA Present 2023 will likely be held in Dallas from January 26 – 29.

About Cox Automotive
Cox Automotive is the world’s largest automotive providers and know-how supplier. Fueled by the biggest breadth of first-party information fed by 2.3 billion on-line interactions a yr, Cox Automotive tailors main options for automobile buyers, automakers, sellers, retailers, lenders and fleet homeowners. The corporate has 25,000+ staff on 5 continents and a household of trusted manufacturers that features Autotrader®, Dealertrack®, Kelley Blue Guide®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based firm with $21 billion in income. Go to coxautoinc.com or join through @CoxAutomotive on Twitter, CoxAutoInc on Fb or Cox-Automotive-Inc on LinkedIn. 

Media contacts:
Lisa Aloisio
Retail Options
404 725 0651
lisa.aloisio@coxautoinc.com

Dara Hailes
Cox Automotive
470 658 0656   
dara.hailes@coxautoinc.com

Andrew Nicolai
Mobility Options
949 293 5241
andrew.nicolai@coxautoinc.com

Mark Schirmer
Cox Automotive
734 883 6346
mark.schirmer@coxautoinc.com          

Lois Rossi
Stock Options
678 645 2028
lois.rossi@coxautoinc.com





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