It could not have been predicted how important the focus of Cox Automotive’s message at NADA last February was. The Power of Knowing unknowingly paved the path for dealerships to follow to implement contactless and digital strategies. In 2020 dealers have done things they never thought they could do, as they accelerated their digital capabilities by ten years in just seven months.
At the beginning of 2020, Cox Automotive’s Retail Brands launched 29 new solutions and invested $500 million in R&D to make sure dealerships around the country were equipped with the tools and data needed for success in 2020. These advancements have allowed dealerships to serve their customers throughout the pandemic in innovative ways, including:
While technology played a role in making flexible and contactless options available, make no mistake that dealerships are the ones responsible for quickly implementing and adapting to these new technologies. The automotive business has proven to be a resilient industry, and the COVID-19 pandemic is certainly no exception.
Dealerships have put up a strong fight against the challenges presented by 2020, but there is still more work to be done. On October 13-15, Cox Automotive’s Retail Brands will be holding Forward Focus 2020, their inaugural client virtual user conference, to ensure business continues to thrive no matter what unforeseen challenges arise. We all could use a little ‘magic’ these days, and my upcoming Forward Focus conversation with NBA Hall of Famer Earvin “Magic” Johnson about facing adversity and prevailing through teamwork is one not to be missed. To learn more about Forward Focus 2020, click here.
Mark Vickery is senior director of performance management for VinSolutions.