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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.
ATLANTA and GRAPEVINE, Texas – Cox Automotive Inc. (CAI) today announces the acquisition of Intersection Technologies Inc. d/b/a F&I Express. F&I Express is dedicated to leading the aftermarket industry into the digital age with innovative technology solutions. The deal furthers Cox Automotive’s mission to transform the way the world buys, sells, owns and uses cars. Both ... Read More » The post Cox Automotive Acquires F&I Express® appeared first on P&A Magazine.
Cox Automotive released the findings of its Future of Digital Retail Study, with results showing that the current dealership model needs to change with consumer preferences, but that the dealership remains central to car buying. While most consumers prefer completing at least one step of the car buying process online, most car buyers want to ... Read More »
NORTH HILLS, N.Y. — Integrated dealership technologies provider Dealertrack (div. Cox Automotive) has released its 2018 Compliance Guide, which outlines the changes and updates in compliance that will affect dealers in 2018. Now in its 13th year, the Compliance Guide is a popular resource on current trends and best practices in F&I compliance. “Dealers understand ... Read More »
LAKE SUCCESS, N.Y. — The perception that millennials — consumers ages 18-34 — are content with a carless, ride-hailing life may not be true after all, at least according to new data from Dealertrack. In 2015, a record-setting sales year, millennials accounted for 34.6% of all auto loans originated through the Dealertrack platform, according to the ... Read More »
ATLANTA — Cox Automotive has appointed Joe George as senior vice president of Manheim Vehicle Solutions. He will be responsible for strategy to execution, driving the wholesale and retail solutions long-term plan related to reconditioning, imaging purchase protection and inspections. Effective Oct. 17, George will report to Janet Barnard, president of Cox Automotive Inventory Solutions. ... Read More »
LAS VEGAS — Software expert Kumar Kathinokkula will serve as moderator for a panel dedicated to online F&I at the upcoming P&A Leadership Summit, organizers announced Thursday. The event will be held Aug. 30–31, 2016, at Paris Las Vegas. “Making F&I products available online for end consumers is a subject of great interest to dealers, agents ... Read More »
ATLANTA – Cox Automotive named Shirley Powell as its vice president of communications and community relations. She will lead and manage day-to-day operations of the company’s global communications organization, according to F&I and Showroom magazine. Powell has more than 25 years of experience in strategic communications and most recently served as executive vice president and ... Read More »
ATLANTA — Cox Automotive is getting into the F&I business. The company announced today it has acquired a minority interest in SilverRock Holdings LLC, which is majority owned by Ernest Garcia and Ray Fidel of DriveTime through a separate company, Oreno Holdings Inc. The transaction closed on Dec. 31, 2015. According to officials, Go Financial ... Read More »
TORONTO — Cox Automotive Canada, through its Manheim Canada operation, has acquired complete ownership of Manheim Source Edmonton. The auction will now operate as Manheim Edmonton and will continue to serve clients in its existing market. This announcement follows Cox Automotive Canada’s announcement in October that it is broadening its footprint in Western Canada. “We ... Read More »