News/Media Release
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
Cox Automotive welcomes a return to normalcy after four years of everything but normal, with nothing in the data suggesting vehicle market surges in any direction.
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The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
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Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
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While the used vehicle market is not fully back to normal, it shows signs of more stability and balance.
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The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
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The longtime automotive remarketing executive is credited with establishing a best-in-class risk management approach and accelerating the company’s digital transformation.
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Sales incentives were up 136% year over year in November, indicating the new-vehicle market is shifting to a buyer’s market, not a seller’s market.
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Analysts are expecting a measured movement through December and the year, which should reach the January forecast for a 4% year-over-year decline.
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The national network of independently-owned wholesale auto auctions plans to build and strengthen its auction teams.
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The experienced remarketer will oversee the company’s commercial and dealer sales teams as well as marketing and information technology strategies.
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