Mark Luber has been named Cox Automotive’s first chief data officer, tasked with leading a 150-person team comprised of experts in data science, product management, analytics, and more.
The unified companies will leverage a vast network of F&I product providers and new technology to innovate for dealers, agents, providers, and lenders.
Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
The tech firm confirmed this week reports that COO Mark O’Neil plans to retire this February. He’ll depart almost four years after Cox’s acquisition of Dealertrack, a company he led as CEO for about 14 years.
Responding to dealer feedback, the Cox Automotive brand has added a 30-day return option to its DS360 wholesale risk management offering. The guarantee is now available at 100 auction sites, guaranteeing 1.3 million vehicles.
Adding LendingTree's capabilities to the Autotrader and Kelley Blue Book sites allow car buyers to research, shop and secure financing on a vehicle all in one spot.
The announcement marks Rowe's return to the company where he started his digital marketing career nearly 20 years ago. It also marks his return to the car business.
The San Francisco startup announced its partnership with Cox Automotive last week. According to officials, the relationship will help Shift expand operations with reduced capital investment and drive efficient launches in markets where Manheim has a presence.
It’s not just the wave of off-lease vehicles expected to return to the market this year and next, it’s the type of vehicles returning that could stunt new sales. Rising interest rates, however, could turn the tide for the new-vehicle market.
Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
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