Cox Automotive Recent Developments
In March 2018, vAuto launched the automotive industry’s first Digital Assistant for dealerships called Nexi. Through a skill for Amazon Alexa, available on Echo Devices, Nexi helps dealers access their inventory, sell cars and generate profit. The cloud-based service is capable of answering a full range of questions on inventory, local market data, operations and more.
The Nexi AI-enhanced service is offered at no additional cost to all vAuto customers who use Stockwave, vAuto’s proprietary solution to help dealers analyze their current inventory.
With Stockwave, Nexi alert dealers when wholesale vehicles that meet a dealer’s profile and profit objectives are available. Nexi also work with vAuto’s Provision and Conquest solutions to call out general inventory management tasks that need attention or are overdue.
In May 2018, RMS Automotive, a Cox Automotive Brand combining powerful analytics with Cox Automotive’s data assets, RMS Automotive has created an AI-powered Optimization product suite that provides clients with vehicle-specific insights that drive data-driven decisions and improve overall portfolio performance.
The AI approach enables these solutions to leverage large amounts of data to make scientific, prescriptive recommendations that are fast, automated, integrated with client systems, and dynamically updated as market conditions change. Specifically, these products can: • Accelerate sales, • Increase portfolio returns and residual values, • Match inventory with the right buyer, • Enable faster, more confident decisions, and • Enable clients to focus on exceptions and reduce administrative burden.
The RMS Optimization product suite – Pricing, Location and Reconditioning – provides clients with VIN-specific recommendations, including how to price vehicles most accurately, where to best distribute inventory across physical wholesale auctions, and how to optimally recondition vehicles prior to sale. Pricing and Location Optimization are available and are live with several clients.
Reconditioning Optimization is set to launch soon, taking advantage of Cox Automotive’s proprietary knowledge of AutoGrade, the industry standard condition scoring system. RMS products can be tailored to meet clients’ business goals and priorities and are applicable to both digital and physical auction inventory. The Optimization suite uses data science algorithms to drive actions and then displays controls and reporting in a web-based user interface.
To complement the Optimization product suite, RMS is also partnering with Manheim to develop a vehicle recommendation engine for wholesale buyers. This new capability uses machine learning to analyze individual buyers’ purchase and bidding patterns and then presents similar vehicles that are available for sale within the Manheim marketplace.
The goal is to help dealers find the right inventory faster and also show them relevant vehicles which they might not otherwise have found. Personalized recommendations will benefit sellers, too, by increasing dealer exposure to their inventory and driving marketplace velocity. Building data-driven solutions that propel client businesses forward requires expertise across different areas and lots of teamwork.
The AI algorithms that power RMS solutions are developed by Cox Automotive’s team of several dozen data scientists and are brought to life by technologists, software developers, product managers and client consultants. Using data from across the Cox Automotive ecosystem, these experts create solutions that equip RMS clients with an unmatched set of decision-making tools.
Cox Automotive M&A Activities
In October 2018, Cox Automotive has completed the acquisition of Intersection Technologies Inc., which does business as F&I Express. The deal furthers Cox Automotive’s mission to transform the way the world buys, sells, owns and uses cars.
Cox Automotive Overview
Ownership: - Cox Enterprises
Employees: 34000
Functional Market: Content Management, Customer Relationship Management, eCommerce, ERP Financial Management, ERP Services and Operations Management,
Key Verticals: Automotive,
Cox Automotive Key Enterprise & Cloud Applications
DealerTrack DMS, VinSolutions CRM
SCORES Analysis
Cox Automotive Strengths
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide.
Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader, Dealer.com, Dealertrack, Kelley Blue Book, Manheim, NextGear Capital, vAuto, Xtime and a host of other brands.
The global company has 34,000-plus team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc.
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- Key differentiators
- Domain Expertise
- Product portfolio
- Solution scope
Cox Automotive Revenues, $M:
| Type/Year | 2016 | 2017 | 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:
| Type | License | Services | Hardware | Support & Maintenance | SaaS |
|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
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 | 2017 Total Revenues, $M | 2017 Enterprise Applications Revenues, $M | 2017 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 |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Cox Automotive Customers
No. of Customers: Subscribe
No. of Enterprise Applications Customers: Subscribe
No. of Cloud Customers: Subscribe
No. of Cloud Subscribers: Subscribe
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- Reference wins across regions
- Customer Size segments
- Customer wins momentum
Cox Automotive Opportunities
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- Market Opportunities at the vertical and subvertical levels
- Mergers and Acquisitions (M&A), Funding
- Geo Expansions
Cox Automotive Risks
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- Ability to handle internal and external risk and challenges
Cox Automotive Ecosystem
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- Health of ecosystem
- Network Effects of BPO, ISV, SI
- VAR Partners
- Direct vs Indirect sales
Cox Automotive Cloud Infrastructure Insights
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- Cloud Infrastructure (IaaS)
- Cloud Platform (PaaS)
- Cloud Application delivery (SaaS)
- Data Center (Hosting)
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).
For additional information on our methodologies, here's the link:
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