Cox Automotive Cuts Staff, Focuses on 'Digital Services'

Cox Automotive eliminated around 1,600 jobs this month as it prepared to better embrace online commerce (and nobody having any money). The company axed nearly 300 employees in June after having furloughed over 12,000 people in response to the coronavirus pandemic this spring. A large number of those positions were related to its Manheim auction arm, which suffered the hardest due to stringent lockdown protocols that prohibited public gatherings.

Now it’s talking about improving some of the digital features it added to Autotrader this year and embracing the virtual landscape to future-proof itself while forecasting a 25-percent cut in annual profits, and letting people go — with the majority of the layoffs coming to furloughed Manheim employees.

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Survey Suggests Automotive Auctions Remain a Booming Business

People aren’t buying nearly as many new cars these days, but at least one aspect of the vehicular marketplace is still thriving — auto auctions. Nearly 18 million vehicles were eligible for the auction block in 2016.

While not all of those 18 million vehicles were sold, they still pushed the business beyond the $100 billion mark and made 2016 the best year on record, continuing five years of industry growth.

Thanks largely to swollen used car inventories, 2017 looks to continue that trend. Volume for 2016 was up 2 percent over the year before and has continued to creep upward at the start of 2017.

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  • Analoggrotto TTAC is full of drug addicts with short memories. Just beside this article is another very beautiful article about how the EV9 was internationally voted by a renowned board of automotive experts who are no doubt highly educated, wealthy and affluent; the best vehicle in entire world. That's planet earth for you numbskulls. Let me repeat: the best vehicle in the world is the Kia EV9. Voted, and sealed, and if you try to deny it Fanny Willis is ready to prosecute you; but she will send her boyfriend instead because she is busy.
  • MaintenanceCosts Our Bolt is not going away for a while but if I had to predict today what would replace it, I'd predict an EX30. It checks every box for my wife.
  • Ajla Both Biden and Trump are on record caring ~0% what the WTO says and the US government isn't bound by WTO rulings.
  • Honda1 The FJB Inflation Reduction Act will end up causing more inflation down the road, fact! Go ahead and flame me libbies, get back to me in a few years!
  • Cprescott Fisker is another brand that Heir Yutz has killed.