Cox Automotive brings world-class connectivity to NADA Show 2024

Atlanta, January 23, 2024 – Cox Automotive, the world’s largest automotive services and technology provider, will occupy the largest exhibit space at NADA Show 2024, February 1-4 at the Las Vegas Convention Center. The National Automobile Dealers Association's annual convention regularly draws tens of thousands of dealers and guests and is a showcase of the technologies and solutions driving America's auto retail industry.

The on-site Cox Automotive Village spans approximately 29,000 square feet, the size of half a football field, and includes 10 booths, the Cox Automotive Stage and more than 200 demonstration stations. This venue provides an opportunity to demonstrate how Cox Automotive is working to change the way the world buys, sells, owns and uses cars.

“Our theme this year, 'Where Everything Connects,' speaks to Cox Automotive, which connects our customers to their goals through the industry's most dynamic insights and unparalleled data,” said Cox Automotive President. Steve Rowley said. “We are excited to showcase the automotive industry's most complete and connected ecosystem at NADA Show 2024, arguably the automotive industry's event of the year.”

The annual NADA convention opens at an interesting juncture for the industry, as the latest Cox Automobile Dealer Sentiment Index shows dealers are concerned about the outlook. Cox Automotive expects the U.S. auto market to return to normal in 2024, but auto dealers face many new challenges including shrinking profit margins, new technology and the transition to a more electric future. confronting.

Cox Automotive, the world's largest automotive services and technology provider, introduces an ecosystem of leading solutions to help dealers achieve their goals. Highlights include:

• Cox Automotive Retail360 Trading: An AI-powered platform that connects the online and in-store activities of buyers and sellers to create faster, more efficient, and better deals no matter the sales channel.
• Automation of EC contracts: New features that save buyers and dealers time by automating the flow of data across financing, desk, and contracting processes.
• ProfitTime GPS global search: The industry's first strategy-driven inventory acquisition tool that helps dealers source the right vehicles across multiple channels. – Everything in one place.
• Vehicle Intelligence 360: vAuto's upcoming AI-driven merchandising solution that automatically generates interactive vehicle listings.
• Damage detection using AI: Advanced computer vision technology that leverages comprehensive image processing to automatically detect damage will assist inspectors across Manheim and further improve the consistency of condition reporting across the Manheim Marketplace.
• Over $100 million investment in vehicle logistics: Cox Automotive is transforming Central Dispatch from the industry's largest loadboard to the first fully integrated automotive transportation marketplace.

Hear the latest trends from Cox Automotive experts and leaders at NADA Show 2024

Driven by the most experienced team in the industry, Cox Automotive provides unparalleled solutions, data and insights, making us your trusted partner. At the 2024 Convention, these industry experts will share their insights to help dealers grow in 2024 and beyond through 14 different speaking sessions.

• Thursday, February 1st Cox Automotive leaders will begin the official NADA session with a deep dive into two key topics. Derek Hansen, Vice President of Operations for Inventory Management Solutions, will lead a workshop on how inventory management has changed and what dealers can do to maximize his ROI. A panel of Cox Automotive EV experts will discuss the closed-loop EV ecosystem.
• Friday, February 2nd There will be plenty of exciting topics on stage at Cox Automobile Village and beyond, including an economic overview from Chief Economist Jonathan Smoak. Sessions will also include a deep dive into consumer shopping behavior, digitizing vehicle logistics, and improving inventory management. Notable moments included vAuto Founder and Cox Automotive Executive Vice President Dale Pollack highlighting a new path to optimal performance in used vehicles; Steve's included Laurie as the leader in presenting his Sustainability Award.
• Speaking sessions will continue Saturday, February 3rd, a second chance to hear from Mr. Smoke and Mr. Pollack, as well as an all-new session on Selling to Gen Z and AI in Automotive Retail, Marianne Johnson, Executive Vice President and Chief Product Officer, Cox Automotive You'll also have the opportunity to hear how they share. Data and technology are driving the future of cars.

Visit the Cox Automotive hub for a detailed schedule.

Awards ceremony recognizing industry leaders

Each year, Cox Automotive recognizes deserving automotive industry leaders at the NADA Show with the Barbara Cox Woman of the Year Award and the Cox Automotive Leader in Sustainability Award.

• Barbara Cox Woman of the Year Award: Cox Automotive is committed to empowering women in the automotive industry. The Barbara Cox Woman of the Year Award recognizes outstanding leaders who demonstrate leadership, community advocacy and a commitment to advancing the auto industry. The award ceremony will be held on Saturday, February 3rd at the Northwood University Dealer Education Awards Breakfast.
• Cox Automotive Leader in Sustainability Award: The Cox Automotive Leader in Sustainability Award recognizes dealerships that have implemented outstanding sustainability programs within their dealerships and involve their employees and communities in these efforts. The on-stage awards ceremony will be held on Friday, February 2nd from 1:50-2:00 pm PT at West Hall Booth #2131W at Cox Automotive Village.

Car purchase satisfaction improves after two years of decline

Good news for the industry as U.S. auto dealers flock to Las Vegas for the convention. A recent study from Cox Automotive suggests that satisfaction with car purchases in the United States is improving. The 2023 Cox Automotive Automotive Buyer Journey Study finds that improved inventory levels, the return of discounts, and the greater adoption of an omnichannel approach to vehicle purchasing that seamlessly combines online and in-dealer activity This shows that it brings a high level of satisfaction.

In 2023, 69% of consumers were very satisfied with the car buying process, compared to 61% in 2022. Specifically, used car buyer satisfaction increased from 58% to 68%, while new car buyer satisfaction rose to 73%, up from 70% a year ago.

Retail stores, or dealers, continue to provide a level of satisfaction that many commentators may be surprised by. In 2023, 74% of all car buyers and 79% of new car buyers reported being “very satisfied” with their dealership experience.