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auto

A mixed bag in the latest Cox Automotive Weekly Summary

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Cox Automotive released its weekly summary Monday, which included updates on sales and prices across the auto market, the Fed’s potential plans, home sales and construction statistics, consumer sentiment, and jobless claims. While some metrics are positive, others are continuing to struggle as the COVID-19 pandemic drags on. Auto Outlook Auto sales for September are […]
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DealerSocket

DealerSocket lays off large portion of employees as part of...

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Dozens of DealerSocket employees were let go from their jobs in July effective immediately, just two months after the Software as a Service (SaaS) firm was acquired by Solera Holdings Inc. Sources say other employees were given a 90-day notice of their termination, which Solera has announced is part of its restructuring plan that included […]
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Vantine

Business development expert Sarah Vantine on the cost of ineffective...

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Fixed ops are the focus for many dealers right now as profit continues to increase, but is training being left behind? On today’s show, we’re pleased to welcome Sarah Vantine, Vice President of Business Development Strategy at Quantum5.  Vantine begins the conversation by discussing her transition from Scott Automotive Group to Quantum5. She says Quantum5 […]
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Cox survey finds that most car dealers are struggling to...

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The average car dealer is having a tough time finding people for open positions, according to the 2021 Cox Automotive Dealership Staffing Study. Of those asked, 72% of franchised dealers say it’s challenging to find and hire the right staff. The struggle comes even as interest in working in the auto retail industry has increased […]
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auto

Auto Market Summary points to slight market correction

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Cox Automotive released its latest auto market weekly summary Monday and while some trends continued, others slightly veered off course. Jobless claims were up, consumer sentiment and retail sales for the auto industry were down, and the supply of used vehicles has finally reached a stable level. This week’s report also reported lower numbers of […]
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Auto sales

Auto sales forge ahead in May despite inventory shortages

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April was one of the best months in automotive retail historically, and May was expected to be similar. However, the seasonally adjusted annual rate (SAAR) reversed course by a fair margin, declining to 17.0 million. Contributing factors for the most recent completed month’s numbers are wide-ranging including faltering consumer sentiment and the new inventory shortage […]
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unemployment

Conflicting views on US auto recovery as unemployment up, sales...

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The Associated Press posted Thursday that the number of unemployment benefit applicants rose by 898,000 last week. That’s the highest number reported in the past two months, and it’s a step backward in the effort to regain the 22 million jobs lost due to the pandemic. In stark contrast, weekly sales data from LotLinx shows […]
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Paragon

How Paragon Found Success by Utilizing a Frictionless Business Model...

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At the start of the COVID-19 pandemic, New York City quickly became the epicenter of the virus, and the city promptly shut down for months longer than anyone anticipated. However, amidst the challenges and uncertainty, Paragon ended the month of June as number one in the nation for new and used Acura sales and number […]
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stimulus

Deal Struck on White House Stimulus Package

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On Tuesday, March 24, 2020, The US government announced that a deal had been struck between the Trump administration and the bipartisan Senate. Valued at more than $2 trillion, the financial aid comes in the form of both tax breaks and spending to stimulate the US economy. A significant portion of the stimulus package will […]
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strong year

Retail Auto Finishes 2018 on a High Note – Jessica...

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Historically low unemployment, new tax cuts, and a sharp decrease in gas prices set the tone for yet another strong year for 2018. According to numerous projections, the industry is likely to see the fourth consecutive year above 17 million vehicles. Here to tell us more about the December numbers is Executive Director of Industry […]
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