Slowing OEM Production to Fuel Affordability Challenge, Analyst Says

Recent OEM exits of lower-priced vehicle segments will limit availability and squeeze auto affordability in 2019, said Jonathan Smoke, chief economist at Cox Automotive Inc. “We’re starting to see announcements from major manufacturers about ceasing production of mostly more affordable cars, and so that reduces the number of units available for sale,” Smoke said. In […]
  • Bianca Chan
  • December 6, 2018
  • Risk

Hyundai and Kia Expand Use of Dealertrack Electronic Contracting Tool

Dealertrack said Monday that it is expanding its partnership with Hyundai Motor Finance and Kia Motors Finance that will make Dealertrack Contracting available to the brands’ dealers in all 50 states by the end of October. The contracting tool, currently available in 39 states, allows Hyundai and Kia dealerships to submit contracts electronically, which mitigates manual […]

Clutch Looks To Increase the Number of OEMs, Dealers on Its Subscription Platform by Year’s End

Clutch is aiming to increase the number of OEMs and dealers using its subscription platform by the end of the year, according to Mark O’Neil, chief operating office at Cox Automotive, which purchased the technology company in August. To date, Clutch has signed on BMW, Mercedes-Benz, and Porsche. O’Neil said the company is in discussions […]

Clutch Expands Porsche Subscription Program to Include Hourly, Weekly Rentals                                   

Following its acquisition of fleet-management company Clutch Technologies, Cox Automotive is broadening its program with Porsche to include hourly and weekly rental rates. The expansion provides insights into the philosophy of Cox’s Mobility Solutions unit as OEMs and dealerships embrace subscription programs, President Vince Zappa told Auto Finance News. “When you start to think of […]

Record High Price Trend in Used-Vehicle Market Set to Cool This Fall

The wholesale market saw an unusual uptick in the price of vehicles this past quarter. Manheim documented an abnormal appreciation trend starting in June and running through September. Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.14% month-over-month in September, according to Manheim. This represents a record high and brought the […]

Cox Automotive Boosts Ancillary Product Compliance for Lenders With Acquisition

Cox Automotive Inc. announced the acquisition of Texas-based Intersection Technologies Inc., better known in the industry as F&I Express, the companies announced on Monday afternoon. The acquisition is a move for F&I Express to access more of the resources that Cox can provide, including a large lender and dealer client base. Those clients can now leverage […]

Hurricane Florence to Damage Up to 40,000 Vehicles in Its Wake

As Hurricane Florence hits the Carolinas and surrounding areas, the flooding could damage 20,000 to 40,000 vehicles, according to forecasts from Black Book and Cox Automotive. “The losses are set to cause demand for cars to push higher as consumers rush to replace damaged vehicles,” Anil Goyal, executive vice president of operations for Black Book, […]
  • Nicole Casperson
  • September 26, 2018
  • Risk
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