Tom Webb will retire as Cox Automotive's chief economist after a more-than-four-decade career, where he became a leading voice about the economic health of the automotive industry.

Webb will retire on June 30, Cox Automotive has announced.

"Tom has been an invaluable resource in the automotive industry for years, and his contributions are countless," said Sandy Schwartz, president of Cox Automotive. "While Tom will be missed by us and many in the industry, everyone at Cox Automotive wishes him all the best in his well-deserved retirement and next chapter. He will always be a big part of the Cox Automotive family."

Webb joined Manheim in 2000 as chief economist, where he became an expert in analysis of the used car market based on data gathered from Manheim's operating auctions, associated businesses and industry research.

He produced the annual Manheim Used Car Market Report, as well as developed the Manheim Used Vehicle Value Index that's viewed as a key indicator of used vehicle pricing trends.

Prior to joining Manheim and Cox Automotive, Webb spent 26 years with the National Automobile Dealers Association (NADA) as a spokesman and analyst for the nation’s franchised new car dealers. In 1999, Webb left NADA to become a senior manager in PricewaterhouseCoopers’ automotive practice, where he developed measures to assess efficiency levels in the retail distribution of vehicles.

Cox Automotive will name its new chief economist in the coming weeks, the company announced.