Cox Automotive Strengths, Domain Expertise, and Key Differentiators
Cox Automotive is spearheading a transformative shift in the global automotive landscape by revolutionizing the processes of purchasing, selling, and owning cars. The company offers comprehensive digital marketing, financial, retail, and wholesale solutions tailored for consumers, dealers, manufacturers, and the wider automotive ecosystem on a global scale. Rooted in a commitment to open choice and the cultivation of robust partnerships, the Cox Automotive family encompasses renowned entities such as Autotrader, Dealer.com, Dealertrack, Kelley Blue Book, Manheim, NextGear Capital, vAuto, Xtime, and various other brands. Operating on a global scale, the company boasts a workforce of over 27,000 professionals across 200-plus locations. Cox Automotive serves as a crucial partner to more than 45,000 auto dealers and collaborates with major automobile manufacturers, concurrently engaging U.S. consumer car buyers through the industry's most recognized media brands. The company's multifaceted approach underscores its dedication to reshaping the automotive landscape through innovative solutions and strategic partnerships.
Cox Automotive Recent Developments
In February 2022, Cox Automotive, known for its innovative vAuto inventory management technology, tools, and business intelligence solutions, introduced a groundbreaking advancement – vAuto ProfitTime's Global Acquisition. This marks a pioneering move in the industry as the first multichannel acquisition system designed to assist dealers in optimizing their inventory sourcing from non-traditional channels. Integrated into the comprehensive vAuto ProfitTime GPS (Global Profitability Solution), the Global Acquisition system addresses the challenge of inventory sourcing by empowering dealers to establish an investment value-based acquisition strategy. This strategic approach guides appraisers and buyers in acquiring inventory across diverse channels, providing a nuanced and effective solution to enhance dealers' inventory management capabilities.
In January 2021, Cox Automotive introduced Complete Retail, an end-to-end digital retail experience that revolutionizes the car-buying process for both consumers and retailers, allowing them to seamlessly navigate every step from initiation to closure, regardless of location. This transformative solution consolidates the entire car-buying journey and deal process into a cohesive experience, encompassing start, flow, sign, and close. Cox Automotive Complete Retail represents a substantial leap forward, underpinned and serviced by a suite of the automotive industry's most reputable and interconnected solutions, including Autotrader, Dealer.com, Kelley Blue Book, VinSolutions, and Dealertrack. Leveraging consumer data and activity from major automotive marketplaces such as Autotrader and Kelley Blue Book, along with multiple dealer websites (Dealer.com managing 60 percent of all U.S. dealership websites), the Complete Retail portfolio is strategically positioned to potentially initiate nearly three-quarters of all car purchases. This expansive reach supports over 100 million unique website visitors and generates over 72 million monthly emails to car shoppers.
In August 2021, Cox Automotive Mobility announced its collaboration with the Institute of Automated Mobility (IAM), a public-private consortium established by Governor Ducey in 2018 to shape the future of transportation safety, science, and policy. This partnership focuses on leveraging emerging technologies to advance mobility solutions with a primary emphasis on safety and efficiency. Key areas of concentration include systems integration, data capture and sharing, and the deployment of smart infrastructure. Arizona's recognition as "The place where automated vehicles go to learn" positions the collaboration to contribute significantly to the development of driverless technology. As electric vehicles (EV) become increasingly integrated with autonomous vehicle (AV) technology, this collaboration holds the potential to bolster Arizona's rapidly expanding EV industry.
Cox Automotive Mergers and Acquisitions (M&A) Activities
In August 2023, Cox Automotive unveiled its latest strategic move with the acquisition of Corcoran’s Mobile Services (CMS), a leading onsite fleet maintenance provider. This acquisition marks a significant expansion of Cox Automotive's nationwide fleet maintenance coverage, reinforcing its unwavering commitment to the secure and efficient servicing of trucks and trailers. Mobile maintenance, catering to light, medium, and heavy-duty trucks and trailers, stands as a cornerstone of Cox Automotive Mobility Fleet Services, encompassing the nation's largest 24/7 emergency repair and towing service. The addition of CMS, renowned for its mobile services across 30 states, contributes to the augmentation of Cox Automotive's mobile workforce, featuring elite technicians dedicated to providing exceptional service.
On July 21, 2022, Cox Automotive made a strategic announcement regarding its acquisition of Trudell, a move aimed at broadening its scope within the medium and heavy-duty fleet parts and service sector. This strategic acquisition not only adds direct parts sales but also incorporates semi-trailer sales into the comprehensive Cox Automotive Mobility Fleet Services portfolio. Beyond expanding its offerings, the acquisition represents a significant entry into a new adjacency for Cox Automotive Mobility Fleet Services. This expansion complements the existing best-in-class mobile semi-trailer service operations, introducing a range of new products, services, and expertise to enhance the value proposition for both current and future customers of the company.
In January 2021, Cox Automotive made strategic moves with two significant acquisitions. Firstly, the acquisition of Dickinson Fleet Services, a prominent mobile maintenance provider for medium and heavy-duty trucks and trailers in North America. This move substantially enhances the capabilities and geographic reach of Cox Automotive Mobility's nationwide Pivet fleet services marketplace. Recognizing the evolving role of fleets and technology in the A.C.E.S. (autonomous/aerial, connected, electric, and shared) future, this investment positions Cox Automotive Mobility to address the anticipated surge in miles traveled per vehicle and the corresponding increase in the demand for service and maintenance. Additionally, Cox Automotive acquired Fyusion, a pioneering computer vision company specializing in immersive vehicle imaging solutions for various industries, including automotive.
In September 2021, Cox Automotive Mobility made a foundational investment in its global electric vehicle (EV) battery service network through the acquisition of Spiers New Technologies (SNT), a leading service provider for EV battery lifecycle management. This strategic move aligns with the growing prominence of EVs, emphasizing the increasing importance and complexity of battery production, health, and lifecycle management for original equipment manufacturers (OEMs), dealers, fleet providers, and consumers. Spiers New Technologies, with current operations in the U.S. and Europe (The Netherlands), positions Cox Automotive Mobility to establish a comprehensive global offering of EV battery service capabilities, catering to the evolving needs of customers across the U.S., UK, and continental European markets.
Cox Automotive Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Cox Automotive applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Cox Automotive and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Cox, DealerTrack DMS, VinSolutions CRM customers.
Cox Automotive Overview
3003 Summit Blvd., Suite 200
Atlanta, GA, 30319, United States
1 855-449-0010
https://www.coxautoinc.com/
Ownership: - Cox Enterprises
Number of Employees: 27000
Functional Markets: Collaboration, Content Management, CRM, eCommerce, ERP Financial, ERP Services and Operations, SPM, SCM,
Key Verticals: Automotive,
Cox Automotive Key Enterprise and Cloud Applications
Cox, DealerTrack DMS, VinSolutions CRM
Cox Automotive Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Cox Automotive Revenue Breakdown By Type, $M:
Cox Automotive Enterprise Applications Revenues By Functional Markets, $M:
Cox Automotive Enterprise Applications Revenues By Verticals, $M:
Cox Automotive Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Cox Automotive Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
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| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Cox Automotive Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Cox Automotive Customers
No. of Cox Automotive Customers: 45000
No. of Cox Automotive Enterprise Applications Customers: x
No. of Cox Automotive Cloud Customers: x
No. of Cox Automotive Cloud Subscribers: x
Cox Automotive, with a vast network of over 45,000 auto dealer clients spanning five continents, plays a pivotal role in seamlessly connecting consumers, manufacturers, dealers, and lenders throughout every phase of the automotive journey.
Cox Automotive Market Opportunities, M&A and Geo Expansions
In response to the surging popularity of online car buying, Cox Automotive is strategically positioned to empower auto retailers in meeting the diverse shopping and purchasing requirements of consumers. This objective is achieved through a robust suite of digital retailing tools meticulously designed to facilitate the personalization that modern consumers expect. The result is an exceptional and tailored experience, irrespective of the purchase path chosen by the consumer.
Cox Automotive Risks and Challenges
In October 2021, the automotive industry witnessed a seventh consecutive monthly surge in new-vehicle prices, marking a new record high exceeding $46,000, as reported by Kelley Blue Book. The average transaction price (ATP) for a new vehicle reached $46,036, reflecting a substantial 12.9% increase (or $5,266) from October 2020 and a 2.0% rise (or $910) from September 2021. The persistently tight supply and sustained demand continue to keep new-vehicle prices notably elevated. Notably, the average new vehicle is now selling 2% above the manufacturer's suggested retail price (MSRP), with the ATP surpassing MSRP by $800 in October. This stands in stark contrast to October 2019 when transaction prices were approximately $2,300 below MSRP. While the impact of high prices on sales remains uncertain, new-vehicle supply constraints persist. Despite a modest 4.1% month-over-month increase, total new-vehicle sales in October reached 1,056,137, reflecting a significant 22.4% decline compared to the previous year and a 21.0% drop compared to October 2019. The constrained new-vehicle inventory, coupled with strategic allocation of microchips to higher-end products, has led to subdued volumes but a substantial increase in sales revenue.
Cox Automotive Ecosystem, Partners, Resellers and SI
In a landmark collaboration announced in July 2021, Penske Automotive Group and Cox Automotive unveiled a groundbreaking, fully automated technology platform tailored for the online retail sale of used vehicles. This innovative online buying platform, exclusively owned by Cox Automotive, facilitates the seamless selection of high-quality, preowned vehicles through PAG's US CarShop used vehicle SuperCenters and franchised dealerships. Powered by Cox Automotive's patent-pending artificial intelligence retail technology, Esntial Commerce, CarShop's U.S. digital platform delivers a 100% automated online vehicle purchasing experience for consumers. Key features encompass personalized monthly payments across all inventories, trade-in capabilities, application and approval for financing, digital contracting, and digital signatures. Esntial Commerce stands out by offering payment personalization based on the consumer's risk profile, selected vehicle, and preferred deal structure, leveraging an advanced AI/machine learning algorithm. Providing actual financing and enabling immediate online transactions instills confidence in consumers, assured that their financing has been seamlessly approved.
Cox Automotive Cloud Infrastructure Insights
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- Cox Automotive Public Cloud and Infrastructure (IaaS)
- Cox Automotive Platform (PaaS)
- Cox Automotive Application Delivery
- Cox Automotive Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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