Cox Automotive Mobility will help fleets convert to electric vehicles and modernize while expanding its fleet of mobile service trucks outfitted with on-demand charging for EV fleet customers.
Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
The partnership between Cox Automotive Mobility and Spiers New Technologies adds new service centers to support the transition to electric vehicles.
While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
The downward trend continues, as June CPO sales were down 1% from May’s sales stats.
Compared to last month, wholesale used vehicle prices are down 1.3%, but year over year, prices are up 10.7%.
May’s CPO sales result is the lowest since February, also down over 22% from May 2021.
The unified brand brings together a more complete array of services for light, medium and heavy-duty trucks and trailers.
The unit encompasses four business solution areas: Fleet Services, Fleet Operations, EV Battery Solutions and Emerging Ventures.
Despite the interest in EVs, cost remains a critical barrier for fleet managers, particularly the larger upfront costs known to deter EV adoption.
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