In preparation for next’s week’s 2021 NADA virtual show, anchor Jim Fitzpatrick sat down with Lori Wittman, Senior Vice President of Dealer Software for Cox Automotive, and Jessica Stafford, Senior Vice President of Consumer Solutions also for Cox Automotive.
Stafford begins the conversation by discussing the progress that was achieved across the industry in 2020. While 2020 challenged dealers in many ways, the automotive industry showed resilience to rally back to record sales numbers. Dealers stepped up to the challenge of digital retailing as more customers demanded online solutions. According to Cox Automotive research, nearly 70% of dealers added digital retailing tools to their dealership operations in 2020 due to the COVID-19 pandemic. Stafford says the industry progressed faster than anticipated and now it will be up to dealers to carry the momentum going forward.
Wittman adds that dealers and consumers both understand the growth of online shopping in 2020. She says that the popularity of online car shopping is bound to continue growing in 2021. 84% of franchise dealers expect an increase in online sales in 2021.
Wittman then shares how Cox Automotive is protecting the privacy of its customers. Dealertrack DMS is integrated with several third parties and helps dealers access their data securely. Secure data integration should never strap a dealer financially. Stafford adds that consumers are begging dealers to promise privacy while using their data to create a better overall experience.
Wittman concludes the conversation by talking about the support of Cox Automotive to its dealers. She said that several people approached her during the 2019 NADA show to thank her and the Cox team for the continuous support. Stafford adds that dealers have been very satisfied with the many solutions offered by Cox that help them gain an edge in a very competitive market.
For more information on the many solutions offered by Cox Automotive, visit coxautoinc.com today.
