Cox Automotive

New-Vehicle Prices Set Record in July 2022, According to Kelley Blue Book, as Inventory Improves Year-Over-Year and Luxury Share Remains Elevated

Retrieved on:

Wednesday, August 10, 2022

Buick, Kelley Blue Book, Ram, Industry, Alfa Romeo, Cox Automotive, Kia, Hyundai, Research, ATP, Volvo, MSRP, EV, Phase space, Land Rover, Lincoln, Honda, Fiat, Sport utility vehicle, Retail, Taxicab

Inventory improves year-over-year but remains low; incentives increased slightly in July over June 2022, but remain muted, averaging only 2.4% of the average transaction price.

Key Points:

Inventory improves year-over-year but remains low; incentives increased slightly in July over June 2022, but remain muted, averaging only 2.4% of the average transaction price.
The Kelley Blue Book new-vehicle ATP increased to $48,182 in July 2022, beating the previous high of $48,043 set last month.
Still, with roughly 1.1 million units in inventory in the U.S., new-vehicle inventory remains significantly below levels seen in 2020 and 2019.
The average price for a new electric vehicle over $66,000, according to Kelley Blue Book estimates remains well above the industry average and more aligned with luxury prices versus mainstream prices.

Thomas M. DellaCroce joins FAAREN Group as VP Sales & BizDev for North America

Retrieved on:

Tuesday, August 9, 2022

Pleasure, Multimedia, Industry, CEO, Cox Automotive, Business development, Original equipment manufacturer, Knowledge, John Gotti, Software as a service, Marketing, Contract, Auto Trader, Online shopping, Clutch

Now the company engages Thomas M. DellaCroce, a renowned expert from the automotive industry, who can look back on many years of experience in the American car subscription market.

Key Points:

Now the company engages Thomas M. DellaCroce, a renowned expert from the automotive industry, who can look back on many years of experience in the American car subscription market.
Thomas M. DellaCroce assumed the role of Vice President of Sales and Business Development for the North American market at FAAREN Group on August 1, 2022.
The contact between FAAREN and Thomas M. DellaCroce was established through the German Accelerator network, which supports FAAREN in its internationalization efforts.
DellaCroce will manage all existing customers, acquire new customers, and scale the overall white label solution concept in the North American market.

Cox Enterprises Acquires Axios Media Inc.

Retrieved on:

Monday, August 8, 2022

ATLANTA, Aug. 8, 2022 /PRNewswire/ -- Cox Enterprises announced the acquisition of Axios Media Inc., a company dedicated to delivering vital, trustworthy news and analysis in the most efficient ways possible. Cox Enterprises has a long history in media and is committed to scaling and expanding Axios into more cities, covering more national topics and more premium niches for professionals. This acquisition follows a previous investment by Cox Enterprises in the fall of 2021 and is part of Cox's ongoing goal to grow and diversify the company.

Key Points:

ATLANTA, Aug. 8, 2022 /PRNewswire/ --Cox Enterprises announced the acquisition of Axios Media Inc., a company dedicated to delivering vital, trustworthy news and analysis in the most efficient ways possible.
Cox Enterprises has a long history in media and is committed to scaling and expanding Axios into more cities, covering more national topics and more premium niches for professionals.
"With so much happening in the world, Axios plays a critical role in delivering balanced, trusted news that people need," said Cox Enterprises Chairman and CEO Alex Taylor, who will join the Axios board.
Cox Enterprises is dedicated to building a better future through our leading communications, automotive and media companies.

EPAM Achieves Elite Tier Partner Status with Snowflake

Retrieved on:

Tuesday, August 2, 2022

NEWTOWN, Pa., Aug. 2, 2022 /PRNewswire/ -- For companies to stay competitive, they must change the way they think about and handle data as the need for digital transformation accelerates. For organizations looking to unlock the potential of the cloud, it is imperative to select an experienced partner. EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced that it has achieved Elite tier partner status from Snowflake, the Data Cloud company.

Key Points:

Achievement further propels EPAM in the Snowflake Partner Network, bringing additional technology, industry and business experience for joint customers.
EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced that it has achieved Elite tier partner status from Snowflake , the Data Cloud company.
"We couldn't be more excited or proud of our entire data practice for achieving Elite Services Partner status with Snowflake.
The Elite tier is reserved for Snowflake partners that excel in referrals, integrations, accreditations and customer success.

Blinker Secures Capital Raise and Licensing Agreement from Flagship Credit Acceptance

Retrieved on:

Tuesday, August 2, 2022

Today, Blinker, an automotive e-commerce technology and services company, and Flagship Credit Acceptance, a leading auto-finance provider managed by funds controlled by Perella Weinberg Partners Capital Management LP (PWPCM) and sub-advised by an affiliate of Innovatus Capital Partners, LLC (ICP), are pleased to announce they have completed a Series C capital raise with Flagship as the sole investor.

Key Points:

Today, Blinker, an automotive e-commerce technology and services company, and Flagship Credit Acceptance, a leading auto-finance provider managed by funds controlled by Perella Weinberg Partners Capital Management LP (PWPCM) and sub-advised by an affiliate of Innovatus Capital Partners, LLC (ICP), are pleased to announce they have completed a Series C capital raise with Flagship as the sole investor.
We are excited for Flagship Credit Acceptance to launch a direct-to-consumer experience that leverages machine learning, vision technology and self-service loan origination powered by Blinkers technology, said Rod Buscher, Founder and CEO of Blinker.
The investment in Blinker will allow Flagship to provide accessible lending across our expanding product set while adding significant operational efficiencies, stated Bob Hurzeler, Chief Executive Officer of Flagship Credit Acceptance.
Flagship Credit Acceptance LLC ( http://www.flagshipcredit.com ), headquartered in Chadds Ford, Pennsylvania, with offices in Coppell, Texas, and Tempe, Arizona, helps auto shoppers obtain financing.

Cox Automotive Acquires Trudell, Parent Company of Trudell Trailers and Northeast Great Dane

Retrieved on:

Thursday, July 21, 2022

Acquisition of Trudell includes Trudell Trailer and Northeast Great Dane, the exclusive dealer of Great Dane trailers in numerous upper Midwest and Northeast locations.

Key Points:

Acquisition of Trudell includes Trudell Trailer and Northeast Great Dane, the exclusive dealer of Great Dane trailers in numerous upper Midwest and Northeast locations.
Cox Automotive Mobility Fleet Services will collaborate with Great Dane to deliver additional solutions to the transportation industry.
Cox Automotive's acquisition of Trudell also includes the purchase of Trudell Trailer Sales and Northeast Great Dane, the exclusive dealers of Great Dane trailers in numerous upper Midwest and Northeast locations.
Cox Automotive is a subsidiary of Cox Enterprises, Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion.

Techstars Atlanta Powered by Cox Enterprises Announces 2022 Class

Retrieved on:

Monday, July 18, 2022

ATLANTA, July 18, 2022 /PRNewswire/ -- Techstars Atlanta Powered by Cox Enterprises has announced the 10 startups that have earned spots in its 2022 accelerator program.

Key Points:

ATLANTA, July 18, 2022 /PRNewswire/ -- Techstars Atlanta Powered by Cox Enterprises has announced the 10 startups that have earned spots in its 2022 accelerator program.
The 10 companies for 2022 are part of a landmark class for Techstars and Cox Enterprises .
A key cornerstone of the Techstars program is one-on-one mentorship, provided by Cox Enterprises team members, local Atlanta business leaders and the broader Techstars Network.
Below is more information on the Techstars Atlanta Powered by Cox Enterprises Class of 2022:
Cookonnect - Connecting busy families with early career, personal cooks to create greater access to in-home meal preparation services.

Cox Automotive Retail Solutions President Lori Wittman Announces Leadership Team

Retrieved on:

Thursday, July 14, 2022

Mandi Fang appointed to SVP, Client Operations

Key Points:

Mandi Fang appointed to SVP, Client Operations
Tracy Noonan Fred appointed to SVP, Dealer Solutions
Cheryl Miller VP of Lender Solutions, joins Wittman's team
Jessica Stafford continues as SVP, Consumer Solutions and will lead Dealer.com in addition to Autotrader and Kelley Blue Book
ATLANTA, July 14, 2022 /PRNewswire/ -- As Cox Automotive continues its mission to help clients transform our industry, Lori Wittman, President of Cox Automotive Retail Solutions, has made several key changes to her leadership team.
Mandi Fang becomes the new Senior Vice President of Client Operations and Tracy Noonan Fred becomes the new Senior Vice President of Dealer Solutions.
Joining Wittman's team is Cheryl Miller, who will continue in her role as Vice President of Lender Solutions.
"With these promotions and alignments, Cox Automotive Retail Solutions is poised to lead our clients confidently into this new era of automotive retailing," said Wittman.

BIG BROTHERS BIG SISTERS OF AMERICA NAMES TRAVIS GIBSON AS CHIEF TECHNOLOGY OFFICER

Retrieved on:

Wednesday, July 13, 2022

TAMPA, Fla., July 13, 2022 /PRNewswire/ --Big Brothers Big Sisters of America (BBBSA), the preeminent one-to-one youth mentoring organization in the United States, has named Travis Gibson as its Chief Technology Officer.

Key Points:

TAMPA, Fla., July 13, 2022 /PRNewswire/ --Big Brothers Big Sisters of America (BBBSA), the preeminent one-to-one youth mentoring organization in the United States, has named Travis Gibson as its Chief Technology Officer.
Founded in 1904, Big Brothers Big Sisters of America is the largest and most experienced youth mentoring organization inthe United States.
The mission of Big Brothers Big Sisters of America is to create and support one-to-one mentoring relationships that ignite the power and promise of youth.
Big Brothers Big Sisters has over 230 local agencies serving more than 5,000 communities across all 50 states.

New-Vehicle Prices Set a Record in June, According to Kelley Blue Book, as Luxury Share Hits New High

Retrieved on:

Tuesday, July 12, 2022

Kelley Blue Book, ATP, Kia, Buick, MSRP, Research, Ram, Cox Automotive, Industry, Mercedes-Benz, EV, Lincoln, Cryptocurrency, Taxicab

With low inventory and high demand, incentives dropped to a record low in June, averaging only 2.3% of the average transaction price.

Key Points:

With low inventory and high demand, incentives dropped to a record low in June, averaging only 2.3% of the average transaction price.
New-vehicle buyers have paid above MSRP every month this year, according to Kelley Blue Book.
The new-vehicle ATP increased to $48,043 in June 2022, according to Kelley Blue Book, beating the previous high of $47,202 set in December 2021.
The average price for a new electric vehicle over $66,000, according to Kelley Blue Book estimates, is well above the industry average and more aligned with luxury prices versus mainstream prices.