•  
• Every spring I look forward to the first weekend in May to watch The Kentucky Derby. In this year’s race, Bob Baffert set a record by winning his 7th trophy with the horse Medina Spirit who beat Mandaloun by a ¼ length. It was the closest finish at the Derby since 2005.

The official outcome of the race is still under review, as Baffert was accused of trying to gain an edge with the use of a banned substance. Every advantage counts in horse racing where the prize is so big and the margin of victory so small.

This summer, the new car business is beginning to look a lot like a high stakes horse race, but it’s no longer a race to the customer, it’s a race for inventory.

The supply and demand curve in the new car business has been completely flipped upside down. Demand for new cars is now significantly stronger than supply. We’ve never seen anything like this before in an industry that’s generally swimming in inventory. The microchip shortage has compounded the inventory challenges which began last year when nearly 3M units of production were lost during the Covid factory shutdowns. 

To read more, please visit our site: https://www.coxautoinc.com/learning-center/the-new-car-inventory-derby-of-2021/

IRVINE, Calif., June 22, 2021 – The estimated average transaction price for a light vehicle in the United States was $41,263 in May 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,125 (up 5.4%) from May 2020, while increasing $493 (up 1.2%) from April 2021.   

“Last month’s average transaction price performance highlights an all-time high in year-over-year growth for the month of May,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “Many manufacturers reported year-over-year gains in average transaction prices. The largest increase came from Mitsubishi, up 12% from this time last year.”

As one of the most affordable manufacturers with the lowest average transaction price in May Mitsubishi reported recovery within the retail space moving into the second quarter of the year. A majority of the models within the Mitsubishi lineup experienced year-over-year average transaction price increases in May 2021. The latest Outlander and Outlander PHEV are Mitsubishi’s highest-priced vehicles, with MSRPs starting at $25,795 for the 2022 Outlander and $36,295 for the 2021 Outlander PHEV. Overall, the Outlander model line saw sales more than double for May 2021 when compared to May 2020. The inclusion of the PHEV trim level within the model lineup aided sales and pricing gains.

Despite the large gap in average transaction prices for luxury and non-luxury segments in May 2021, non-luxury vehicles had a larger year-over-year price increase at 4.9% (up $1,805), while luxury vehicles climbed 2.9%, or $1,597, from this time last year. Standard full-size SUVs and pickup trucks contributed to the growth among non-luxury segments. The third and fourth highest-priced models within the segment include the GMC Yukon XL ($79,695) and Yukon ($77,031), both priced substantially above the industry and segment average.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com)

Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.

About Cox Automotive

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

Media Contact:

Brenna Buehler                                                                        

949-473-6595                                              

brenna.buehler@coxautoinc.com

###

Amid Challenging Marketplace for Car Buyers, My Wallet Makes Shopping from Home Easier, More Convenient

ATLANTA, June 7, 2021 /PRNewswire/ -- Car buyers are facing tough times right now, with a difficult market plagued by low supply from vehicle inventory shortages and the resulting high demand driving prices upward. A worldwide microchip shortage has severely limited new-car production and dealers have fewer used vehicles on their lots, so now more than ever car shoppers need to appreciate the power of their individual finances to make the best deal they can. Amid this challenging marketplace Autotrader recently launched My Wallet, a tool that unveils a consumer's total purchasing power with personalized monthly payment details and the ability to compare deals to help make car shopping easier, faster and more convenient from the comfort of home. 

When making a large purchase decision like buying a car, consumers need to understand not only how it fits into the overall big picture of their finances but also how it impacts their monthly spending. My Wallet helps guide car shoppers through setting up their budget so they can get personalized pricing and monthly payment details as they browse, select and move toward a purchase, giving shoppers more accurate pricing than other listings providers. To activate the power of My Wallet on Autotrader, car shoppers simply enter their individual purchase details, estimated credit score, desired term, down payment and trade-in value that is seamlessly generated through an integration with Kelley Blue Book's KBB.com. After setting up My Wallet, each vehicle listing they view on Autotrader will feature a personalized estimated monthly payment so they can clearly evaluate if that vehicle fits within their individual budget. My Wallet estimated payments stay with shoppers so they can easily browse a wide variety of vehicles across Autotrader as they move toward their purchase. By empowering car shoppers with personalized payment details, My Wallet helps improve the shopping-to-buying journey and creates richer connections between buyers and sellers. Since the launch of My Wallet, there has been a 113% increase in shoppers exploring financial terms of their deal on Autotrader, including things like down payment, monthly payment or length of loan, and deal activity has increased by 469%1.

"Consumers should have a comprehensive view of their total purchasing power as they consider their next vehicle, so being able to shop by monthly payment is extremely helpful – especially now given the current economic climate in the automotive industry," said Jessica Stafford, president of Autotrader and Kelley Blue Book. "Autotrader's My Wallet gives car shoppers the best experience and most accurate 'all-in' pricing to help them complete their car-buying journey faster. Personalizing the shopping experience drives convenience that is beneficial to consumers and dealers alike, easing the flow of information and helping to close the gap between shopping and buying to provide a smooth, integrated experience all around."

Beyond the benefits My Wallet affords consumers, the tool also aids dealers. When consumers shop online, price often is a deciding factor and 67% of shoppers are more likely to use the marketplace if they can shop by payment2. Powered by Cox Automotive, My Wallet surfaces the deal pieces earlier in the shopping journey, allowing consumers to determine their trade-in, down payment, financing terms and credit range on every vehicle listed on Autotrader. This information is combined with a dealer's preferred lender, which ultimately provides dealers with more qualified leads and empowers them to service their customers in a more personalized, seamless way that is quicker to close the sale.

With the drastic shift in the automotive consumer journey, being able to complete as much of the car shopping and buying process from home is now imperative for many consumers – and dealers have stepped up to the challenges of digital retailing accordingly. Shoppers now know what is possible in this new car-buying experience and they are going to seek out dealers who continue to deliver that process, resulting in stronger loyalty to those brands and dealerships than ever before. Consumers of all ages have come to appreciate shopping and buying things online versus going to a retail store, and now many prefer and expect it. In addition to providing a resource for consumers to shop for the perfect vehicle by payment using My Wallet, the trust and speed of Autotrader's digital shopping experience makes the overall car-shopping process a breeze.

Buying a car is now easier and safer than ever thanks to Autotrader's At Home Services, which helps shoppers buy and service a car without ever leaving the safety and comfort of their homes. This suite of solutions assists with "no contact" interactions by offering consumers virtual vehicle tours, test drives at home and local vehicle delivery at no additional cost to dealers.

Visit https://www.autotrader.com/ look for the wallet icon in the top navigation and get started with My Wallet to unlock your purchasing power.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

1 Cox Automotive Adobe Analytics, May 8-May 11 2021, 50% of traffic on the Autotrader site.
2 Autotrader Shopping Experience (Oct 2019)

Programs from Lexus, Kia Shine Brightest Among CPO Offerings this Year

ATLANTA, June 3, 2021 – For car shoppers seeking the peace of mind that comes with buying a new car but pricing that aligns closer with buying used, a Certified Pre-Owned (CPO) vehicle is a great solution. CPO vehicles are used models that have been certified by the automaker after undergoing a rigorous inspection, carrying safeguards like additional factory-backed warranties and other advantages. With nearly every auto manufacturer offering a CPO program, it can be difficult for consumers to know which brands offer the most benefits. Because not all CPO programs are created equal, the experts at Autotrader recently evaluated all the CPO programs on the market and determined the automakers currently offering the Best CPO Programs in 2021 are Lexus (among luxury brands) and Kia (among non-luxury brands).

Different carmakers have different standards for their CPO programs, but most certified vehicles have lower mileage and are newer model years. Beyond extra factory-backed warranty coverage, CPO vehicles can offer various value-adds like special financing, 24-hour roadside assistance, free scheduled maintenance visits, free loaner cars during repairs, trip-interruption reimbursement and more. Although the details of warranties and other perks vary from brand to brand, the idea behind every automaker’s CPO program remains the same: provide some additional protection and peace of mind. While buying CPO costs a little more, for many used-car buyers it is money well-spent.

“With used-car prices on the rise and new-car inventory scarce, right now it makes a lot of sense to consider a certified pre-owned car or truck,” said Brian Moody, executive editor for Autotrader. “Autotrader expects the prices of used cars to remain higher than usual for the remainder of 2021, so the gap between a typical used-vehicle price and a CPO price is narrowing. Shoppers can view these current market conditions as an advantage, as buying CPO includes several benefits above and beyond purchasing a non-certified used car.”

After evaluating each available CPO program currently on the market, Lexus and Kia emerged as the best among luxury and non-luxury brands, respectively.

Autotrader’s Best Certified Pre-Owned Luxury Program of 2021: Lexus L/Certified

Hitting all the high notes, Lexus L/Certified leads the way among luxury CPO programs due to the absence of a mileage cap for its added CPO warranty, in addition to the program’s other robust features. To qualify for Lexus L/Certified, a vehicle must be no more than six years old, have no more than 70,000 miles on the odometer, pass a factory-supervised 161-point inspection, and have a clean vehicle-history report.

L/Certified stands out for its CPO warranty adding two years with unlimited mileage coverage to whatever remains of its original four-year/50,000-mile new-car warranty. That’s a total of six years/unlimited-mile limited bumper-to-bumper and powertrain coverage from the new-car purchase date. Other highlights of the Lexus L/Certified program include: 24-hour roadside assistance, loaner car covered during repairs, and trip-interruption allowance providing reimbursement for meals, a rental car ($50 per day for up to five days), and lodging (up to $200 per night for up to three nights). Rounding out the perks are four scheduled-maintenance visits.

Autotrader’s Best Certified Pre-Owned Non-Luxury Program of 2021: Kia Certified Pre-Owned

After weighing all aspects of Kia’s CPO program, it rose to the top among non-luxury automakers in a very competitive marketplace. Kia’s stellar powertrain warranty and the fact that the CPO coverage is transferable gave the brand its leg-up on the competition to win this year’s honor. Kia’s CPO coverage can be transferred to another private owner for a $40 fee. For a used car or SUV to qualify for Kia’s CPO program, it must be no more than five years old, have no more than 60,000 miles on the odometer, pass a 173-point inspection, and have a clean vehicle-history report.

Kia’s CPO program stands out due to its industry-leading 10-year/100,000-mile powertrain warranty. When a Kia model passes from its original owner, its powertrain warranty is reduced to five years/60,000 miles from the original new-car purchase date. However, Kia reinstates the original 10-year/100,000-mile powertrain warranty for its CPO cars and SUVs. In addition, Kia provides its CPO vehicles with a one-year/12,000-mile limited bumper-to-bumper warranty beginning on the CPO sale date (requiring a $50 deductible for each covered repair). Along with the extra warranty coverage, Kia’s additional CPO program perks include: 24-hour roadside assistance, up to 10 days car-rental allowance of $35 per day for covered repairs, limited trip-interruption reimbursement of up to $500 for five days, and a three-month satellite radio subscription.

Autotrader identified the 2021 Best Luxury and Best Non-Luxury CPO Programs based on a series of factors, including powertrain warranty length, available inventory, bumper-to-bumper warranty coverage, special financing terms, highest volume and broadest possible spectrum of CPO vehicle types and price ranges currently listed for sale, and ease of understanding warranty overall.

For more information about buying CPO, including details about manufacturer CPO programs, up-to-date CPO vehicle listings for sale in your area and more, visit https://www.autotrader.com/car-shopping/best-certified-pre-owned-programs.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

###

Media Contact:
Nichole Mrasek               
404-568-6352    

nichole.mrasek@coxautoinc.com

Editors Recommend Best New, Used Rides for Recent College Graduates

ATLANTA, May 17, 2021 /PRNewswire/ -- After getting through another trying school year, many of this year's college graduates are in the market for a new vehicle as they launch into the world to forge their chosen path. Following the commemoration of the hard work they put in during the student years, young adults find themselves in need of their own car as they begin this next phase of life. To help guide the class of 2021 as they consider which vehicle to purchase, the experts at Autotrader recently named 10 Best Cars for Recent College Graduates with a practical focus on value, fuel economy, safety and reliability.

"Whether you're still driving the car you've had since high school or you're ready to purchase your first-ever vehicle, college graduates need affordable, reliable transportation," said Brian Moody, executive editor for Autotrader. "There are many factors to consider and hundreds of different car models available in the marketplace, so it can feel overwhelming when trying to decide which vehicle to choose. We understand that with a job offer in hand it may be tempting to consider splurging on a dream car, but we advise grads not to overdo it. There are plenty of great new and used cars available for a reasonable price that won't stretch your first real paychecks too far."

All vehicles on this year's 10 Best Cars for Recent College Graduates list – a mix of new and used cars and SUVs – are available for under $25,000 and achieve a combined fuel economy rating of at least 30 mpg. Check out the Great Cars for Grads selections for 2021 (unranked and listed below in alphabetical order):

Autotrader's 10 Best Cars for Recent College Graduates in 2021

2021 Chevrolet Trailblazer
The recently re-introduced new Chevrolet Trailblazer, with a starting price of $20,195, is a great choice for young adults looking for something stylish, versatile and affordable. This subcompact crossover is roomier than you may expect and comes with a solid list of standard tech features. 

2018 Ford Focus
Available as a hatchback or sedan and a starting price of around $13,200, the Ford Focus is a great option in affordable used compact cars. The 2018 Focus features a well-designed interior that is aging well so far, and a fun-to-drive character - especially in the high-performance ST model.

2017 – 2018 Honda Civic
The reliable and efficient Honda Civic is a value-conscious choice that becomes an even better value on the used market after a little depreciation. You should be able to find one starting between $15,500-$17,400. Available as a sedan, coupe or hatchback, you can choose the Civic model that best suits your needs and style. 

2018 – 2020 Hyundai Kona          
The Hyundai Kona is a small, stylish, high-tech SUV. While it's likely most practical if you won't have regular backseat passengers or a ton of cargo, it's surely an affordable way to stand out in traffic - especially if you pick one of the more eye-catching paint colors available. A 2018-2020 Kona starts between $17,300-$20,000.

2021 Kia Soul
Some call it a hatchback and some call it an SUV, but either way the Kia Soul consistently is one of our favorite small cars. This quirky yet practical vehicle has a low base price (starting at around $18,765), a great warranty and a roomy interior thanks to its funky boxy shape.

2021 Mazda3
The athletic Mazda3 is a great choice for something on the sporty side of practical compact cars. Available as either a sedan or a hatchback and also available with AWD, it's fun to drive at any speed with agile handling, an eager base engine and a more exciting available turbo engine that still keeps the price under $25k (the Mazda3 starts at around $21,645). It also has available AWD, which is rare in this segment.

2021 Nissan Sentra
The Nissan Sentra is an affordable compact sedan with a muscular attitude, drawing inspiration from bigger, more expensive Nissan sedans. With a stylish exterior, an upscale interior and a lot of standard safety features, we like that you can go up to the top SR trim while still staying in the low-$20,000 range—the Sentra starts at around $20,410.

2021 Subaru Crosstrek
The Subaru Crosstrek is a small crossover that's big on quirks. Starting at around $23,295, there's nothing else quite like it with its unconventional look and impressive off-road chops thanks to tall ground clearance and standard AWD. If you need an efficient, practical car, but also like the idea of occasional off-road adventures, the Crosstrek can do it all without breaking the bank.

2016 – 2018 Toyota Prius
While some may argue that the Toyota Prius won't win any beauty contests, a used Prius is one of the most sensible car-buying decisions a college grad can make. Starting between $15,100-$19,300, the Prius is safe, reliable, affordable, roomy for a compact hatchback, and incredibly fuel-efficient. It achieves over 50 mpg in the city and on the highway.

2016 – 2018 Volkswagen Jetta
The Volkswagen Jetta boasts a strong engine lineup along with a spacious cabin and trunk for a compact sedan. Starting between $11,700-$14,500, the 2016 model year is a good spot to begin your search because that's when the Jetta got a standard touchscreen infotainment system and USB port plus a new turbocharged base engine.

To learn more about Autotrader's 10 Best Cars for Recent College Graduates in 2021, including photos, detailed vehicle information and available inventory, visit https://www.autotrader.com/best-cars/10-best-cars-recent-college-graduates-281474980013135.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

SOURCE Autotrader

For further information: Nichole Mrasek, 404-568-6352, nichole.mrasek@coxautoinc.com

Experts Recommend New Two-Row, Three-Row, Full-Size SUVs, Minivans to Suit Any Family

IRVINE, Calif., May 3, 2021 – Buying a new family car is a task brimming with important considerations, from lifestyle needs and budget concerns to passenger safety and comfort. With an increasing number of new SUV models and options hitting the marketplace every year, in addition to the perennial family-car favorite the minivan, the choices available can be overwhelming to parents in any stage of life. To help narrow down the consideration set, the experts at Kelley Blue Book named the Best Family Cars of 2021 to aid parents in deciding which new vehicle best suits their family.

“When it comes to buying a car for a new or growing family, parents understandably want assurance that their vehicle has outstanding safety and technology features to help protect their precious cargo,” said Matt DeLorenzo, senior managing editor for Kelley Blue Book. “We also know budget factors are top-of-mind for families, so we place a heavy emphasis on overall value including purchase and ownership costs through Kelley Blue Book’s Fair Purchase Price and 5-Year Cost to Own information.”

The Best Family Cars of 2021 include two- and three-row crossover SUVs offering the passenger and cargo-carrying capacity that make them go-to choices, and full-size SUVs/minivans that hold appeal for their roominess and flexibility. This annual list features top recommendations based on in-depth testing with a focus on safety, overall value, connectivity, technology and driver-assist features. Kelley Blue Book’s editorial staff constantly reviews the newest cars on the market, evaluating options through many lenses to provide the most comprehensive information possible for new-car shoppers. The team also uses data from the National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (IIHS) to ensure recommended vehicles have top safety ratings.

Kelley Blue Book’s Best Family Cars of 2021

Kelley Blue Book’s Best Family Cars of 2021 provides valued service for families to narrow down their search for a new vehicle, and its Dealer Home Services makes it easier to shop for a car right from home – from a virtual walk around or test drive, to delivering a car right to your driveway with touchless delivery.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues nearly $20 billion. www.coxautoinc.com

###

Media Contact:

Brenna Buehler 

949-473-6595 

brenna.buehler@coxautoinc.com

Amid Rapid Segment Growth, Tax Season and Earth Day, Experts Break Down EV Tax Credit Details and More

IRVINE, Calif., April 22, 2021 – Electric cars undoubtedly are the wave of the future, and growth in the segment is on quite an upward trajectory. According to data from Cox Automotive, electrified vehicles accounted for 7.8% of the total Q1 2021 sales, up from 4.8% in the same period last year. By the end of 2024, experts expect to see more than 100 electric models available to car shoppers. With an ever-growing list of new electric vehicles (EVs) hitting the marketplace, many shoppers are intrigued by the option to switch from gasoline to electric. Yet as they seek to understand the environmental and financial benefits an electric car provides, shoppers may be confused trying to navigate the details of available tax credits for EV owners. Accordingly, here amid tax season and just in time for Earth Day 2021, the experts at Kelley Blue Book created How Do Electric Car Tax Credits Work? to help break down the facts.

“The electric car market is quickly growing, and data shows that car shoppers are getting more on board with the idea of driving an EV,” said Matt DeLorenzo, senior managing editor for Kelley Blue Book. “While it’s easy to understand the environmental benefits of driving an EV, sometimes the nuances of the financial benefits aren’t quite as clear. Available incentives can vary greatly on the state and local level, but the well-publicized federal tax credit is something that certainly piques the interest of many shoppers considering going electric. We want to help them understand these details so they can go into the car-buying process feeling confident and knowledgeable.”

Understanding the $7,500 Federal Tax Credit

Most shoppers considering an EV likely have heard of the most significant government incentive, a federal tax credit worth $7,500 for certain alternative-energy cars. While that can help drive down the overall cost of a more expensive EV, shoppers should understand the details and that it doesn’t necessarily apply in all circumstances.

• You Don’t Get the Tax Credit Right Away – While manufacturers may advertise it as a discount on the car’s price, it isn’t. It is a government policy that allows you to claim up to $7,500 in credit against federal income taxes you owe in the year in which you buy the car. In other words, it reduces your tax liability. If you’re eligible for a refund, you’ll get whatever credit you’re entitled to on top of that. Buyers still must pay the full price they negotiate for the car, and then they can claim the credit the next time they file their taxes.
• It Applies Only to New-Car Sales, and It Doesn’t Apply to Leased Vehicles – If you’re leasing a new EV, the tax credit will go to the manufacturer offering you the lease. However, they may choose to apply that credit to help lower your monthly payments, which is a good point for you to bring up in negotiations.
• It Applies to EV, Plug-in Hybrid, and Fuel Cell Vehicles – The law states that the credit applies to road-going vehicles that are charged from an external source and have battery packs with 4 kilowatt-hours or greater. The U.S. Department of Energy maintains a list of vehicles that qualify for the tax credit and the amount buyers could deduct for them.
• Some Electric Cars are No Longer Eligible – The full credit is available on the first 200,000 vehicles a manufacturer builds; beyond that, the credit begins to sunset. Currently, two manufacturers have completely exhausted their available credit: Tesla and General Motors.
• It May Change This Year – The federal government’s EV tax credit program may change dramatically in 2021, and currently there are a few different proposals working their way through Congress. If you’re able to wait and don’t need to buy an EV soon, it could be worth letting these bills get settled before you buy. With more EVs coming to market and manufacturers lobbying for assistance to ensure their EV bets pay off, chances are that something may happen to make EV tax incentives dramatically better for new-car buyers this year.

State and Local Incentives Could Be Available; Your Electric Utility Company May Help

While the federal government’s effort toward EV discounts is largest, some states and local governments have incentive programs to help new-car buyers afford a more efficient vehicle. These can be things like tax credits, rebates, reduced vehicle taxes, single-occupant carpool-lane access stickers, and exemptions from registration or inspection fees. The U.S. Department of Energy maintains an interactive list of state-level incentives. In addition, some local electric utilities have incentive programs to help buyers get into electric vehicles, like rebates or discounted electric rates for charging an EV outside peak hours. It’s worth checking with your electric utility to see what incentives they may offer if you’re considering buying an EV.

Additional EV Information and Consumer Advice

The editors at Kelley Blue Book also have created several articles with consumer advice and information about EVs to help shoppers navigate the evolving electric car landscape:

• How Much Does It Cost to Charge an Electric Car?
• How Long Does It Take to Charge an Electric Car?   
• 5 Fastest-Charging Electric Cars
• An EV Charger Buying Guide: See All Your Options
• Electric Car Range – Everything You Need to Know
• 10 Longest-Range Electric Cars
• Does it Cost More for Electric Car Insurance?
• Evaluating EV Facts over EV Hype
• 10 Things to Know Before Buying a Used Electric Car

For more information from Kelley Blue Book about electric cars, EV tax credits and more, visit https://www.kbb.com/car-advice/how-do-electric-car-tax-credits-work/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues nearly $20 billion. www.coxautoinc.com

###

Media Contact:
Brenna Buehler                                                                               
949-473-6595                                                    

brenna.buehler@coxautoinc.com

During Earth Month 2021, the search for a new battery-powered vehicle just got easier

ATLANTA, April 15, 2021 -- The electric vehicle (EV) boom is about to go into overdrive as auto manufacturers increasingly prioritize the electrification of their vehicle fleets and shoppers express their openness to making the switch. In fact, as many as 30% of consumers indicate they are more likely to consider purchasing an EV in 20211. Faced with an ever-growing number of EV choices, there are several factors for first-time electric car buyers to consider in their journey of going green, including costs, incentives, battery life and driving range. With this in mind, the experts at Autotrader recently named the 10 Best Electric Cars for 2021.

"Shopping for an EV in 2021 is an exciting prospect, from the variety of new vehicle options to the range of features offered across multiple price points," said Brian Moody, executive editor for Autotrader. "While EVs historically are more expensive than traditional gas-powered vehicles, the rapid advances in battery technology and increased manufacturer efforts to roll out new models are making EVs more accessible to purchase—and more fun to drive—than ever before."

Autotrader editors selected the 10 Best Electric Cars based on a range of criteria that included the following: vehicles must be priced under $75,000; the car must have a plug or a way to run on electricity only for fifteen miles or more; and the car must be available for sale to the public within the next six months. Check out the latest selections for 2021, unranked and listed below in alphabetical order:

Autotrader's 10 Best Electric Cars for 2021

2022 Chevrolet Bolt EUV
The redesign of the Chevrolet Bolt brought with it a compelling compact crossover variant. It's mechanically the same as the updated Bolt EV electric car but it has a more rugged, SUV-like appearance and more back seat space, making it a little more family-friendly. The Bolt EUV is the first Chevrolet model available with the excellent Super Cruise semi-autonomous hands-free driving tech.

2021 Ford Mustang Mach-E
Ford's first all-electric crossover SUV is a winner. With an impressive range of up to 300 miles, the latest tech features, and the style and performance to back up its iconic name, the Ford Mustang Mach-E does just about everything well. It also helps that it's functional as a practical, everyday driver with plenty of space for people and cargo. 

2021 Hyundai Kona Electric
The Hyundai Kona is an awesome subcompact crossover no matter what is powering the wheels. The EV variant has a nice range of up to 258 miles, plus 250-kWh of free charging from Electrify America. Unfortunately, it's not available nationwide, but if you live in a state that sells the Kona EV, it's a great choice in affordable electric SUVs.

2021 Hyundai Ioniq Electric
Another compelling electric car in the Hyundai lineup is the all-electric version of the Ioniq. The electric Ioniq has a stellar 133 combined MPGe rating, which makes it more efficient than the Nissan Leaf and Chevy Bolt. That translates to an estimated annual fuel cost of only $500, according to the EPA. However, its range is a bit limited at 170 miles.

2021 Lincoln Aviator Grand Touring
The Lincoln Aviator Grand Touring is a plug-in hybrid midsize luxury SUV. This stylish and upscale three-row crossover has plenty of room to transport the family in a quiet and comfortable sanctuary. It also can be a blast for the driver thanks to its PHEV powertrain, making 494 horsepower and 630 lb-ft of torque. The trade-off is that it sacrifices efficiency for performance, but it does manage an all-electric range of up to 21 miles.

2021 Nissan Leaf
The Nissan Leaf was the original mass-market electric car. Now in its second generation, it's still a strong contender on the more affordable side of EVs. The styling is sleek, the interior is roomy, and the base price is within reach of a wide range of shoppers. The base model has a 150-mile range, but if you upgrade to the Leaf Plus, it achieves up to 226 miles of range.

2021 Toyota RAV4 Prime
Toyota has long been the king of hybrids, and now the Japanese brand has finally come out with a plug-in hybrid version of its most popular SUV. It's well-equipped with standard features including AWD, and it has a good all-electric range of 42 miles.

2021 Volvo XC40 Recharge
Volvo is getting serious about electric cars. Part of this move is the XC40 Recharge, which is an all-electric version of the excellent XC40 subcompact SUV. This Volvo has the safety ratings and features you'd expect from the brand, plus high-quality interior materials and head-turning style. The electric range of 200 miles makes it a practical commuter for many drivers.

2021 Volvo XC60 Recharge
The Volvo XC60 Recharge is the plug-in hybrid variant of the Swedish brand's compact SUV. It benefits from a 57 combined MPGe rating, up to 19 miles of all-electric range, and electric all-wheel drive adding to the SUV's practicality. It also delivers pretty muscular performance, making this crossover both fun and efficient in one stylish and safe package.

2021 Volkswagen ID.4
The Volkswagen ID.4 not only is the brand's first electric SUV, but it's also a showcase of what to expect from future electric cars from the brand. A new design language is on display inside and out, and we like the simplicity of the high-tech interior. We also like the 250-mile range, the generous standard safety tech features, and three years of free charging with Electrify America.

To learn more about the 2021 Best Electric Vehicles list from Autotrader, including photos, detailed vehicle information and available inventory, visit https://www.autotrader.com/best-cars/best-electric-cars.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

1 Cox Automotive 2021 Predictive Study

SOURCE Autotrader

For further information: Nichole Mrasek, 404-568-6352, nichole.mrasek@coxautoinc.com

Solution delivers in-app immersive digital experience to differentiate online inventories directly to where consumers shop for vehicles

OAKBROOK TERRACE, Ill., April 15, 2021 – vAuto announces the incorporation of SnapLot 360, a visually captivating 360-degree spin image capturing application that equips dealerships to take photos and videos of a vehicle’s interior and exterior, creating dynamic listing content for online car buyers. With this dynamic merchandising tool located within vAuto Conquest™ and Provision®, dealerships are driving online engagement and potential sales by delivering a more immersive shopping experience for customers as they increasingly rely on new online shopping tools and services to research and compare vehicles.

According to Cox Automotive’s 2021 Car Buyer Journey Study, 74% of franchise dealers say their customers have used digital retailing tools more since COVID-19—indicating that advanced digital merchandising tools and enhanced visualization will be must-haves for dealerships in the year ahead. To increase consumer satisfaction and help drive profit, dealerships can use SnapLot 360 in vAuto Conquest and Provision, providing a new, easier way to merchandise inventory without any additional inventory management platform. Retailers simply need a smartphone and the SnapLot 360 app and they can capture exterior shots in seconds with a single walkaround, creating a 360-degree shopper-controlled and self-guided tour of the vehicle – all in order to increase the visibility of their inventories by leaps and bounds.

In a 2019 study, 73% of car shoppers who bought or leased a vehicle rated 360 displays as extremely helpful in the shopping process, underscoring the importance of this offering for all dealerships. (Source: HomeNet 360 Consumer Study 2019) SnapLot 360 is the perfect integrated application to provide potential customers with a highly visual and virtual experience that closely mimics the real-life experiences when purchasing a car, including visual aspects and live insights at the click of a button.

“SnapLot 360 gives dealerships a digital edge within vAuto, allowing them to use one system for inventory management and merchandising,” said Nathan Fox, Senior Director of Business Development for vAuto leading all merchandising initiatives. “The dynamic, interactive images of a vehicle’s interior and exterior create the transparency demanded by shoppers as they complete more of the car buying process digitally.”

SnapLot 360 incorporates several innovative features that support a dealership’s goal to create a more immersive shopping experience for customers, including:

• Exterior 360 Capture:  With a quick walk around the vehicle, capture high-resolution, exterior 360 spin images in seconds, using your Android or iOS device.
• Interior 360 Capture: Create compelling interior panoramic views that bring the customer inside the cabin.
• Hot Spot Tagging: Uses stencils that guide dealerships to specific features in the photos and automatically tags them as hot spots providing a more visual and informative vehicle detail page.
• 360 Syndication: Dealerships can take images and syndicate those photos to top car shopping sites and website providers in the industry, including Autotrader and Dealer.com.
• Automatic Photo Extraction and Upload: After capturing the 360 spin images, automatically extract photos and upload them to vAuto Provision or Conquest via wireless, reducing the manual work required by dealers in order to save time and increase efficiency.

“Since using SnapLot 360, we’ve been able to differentiate ourselves from the competitors and engage more customers. It’s simple to use and creates a unique, standout experience for shoppers,” said Robert Velez, Internet Manager, Liberty Auto City. “We’ve seen measurable results with great engagement without adding more work to our plate with SnapLot 360.”

“Matching supply to demand is going to be a big challenge for our industry in 2021. Connecting advanced marketing and merchandising capabilities, like Snaplot 360, directly to the marketplaces where consumers instinctively go to look for vehicles establishes a new level of value for dealerships,” added Paul Whitworth, Senior Vice President Inventory Solutions at Cox Automotive. “This is just one of the many ways we are reimagining the vast array of solutions across Cox Automotive to solve business problems for our clients.”

For more information on vAuto SnapLot 360, visit vAuto.com/snaplot360 For information on all of Cox Automotive's 2021 new offerings, visit www.coxautoinc.com/experience. 

About vAuto  
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers' used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto founder, Dale Pollak, Provision helped dealers adopt a more transparent- and turn-focused approach to used vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. vAuto's solutions also include Conquest, a new vehicle inventory management and pricing system, and Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform. In 2018, vAuto released the Provision ProfitTime metric and methodology to help dealers maximize inventory turn and gross profit based on the investment value or profit potential of each vehicle. In 2020, the company debuted an all new iRecon solution, integrated with Provision, to help dealers recondition vehicles and get them retail ready faster.  

Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

Greta Crowley, vice president of marketing for Autotrader

The automotive consumer journey – from browsing options to purchasing a vehicle – has changed drastically. Given this evolution of where and how consumers are shopping, it will be imperative for dealerships to closely evaluate how they are marketing their inventories online. With the right approach, retailers will be in a position to capitalize on these trends in car shopping well into the future, all while garnering a stronger return on their marketing spends.

In order to better understand this shifting landscape, consider a few key insights that Cox Automotive has observed in recent months. According to Cox’s Digitization of End-to-End Retail report, 76% of shoppers are open to the idea of buying completely online. Further, buyer satisfaction has reached a higher level than it has been since 2016 – over 70% of consumers reported being highly satisfied with their overall shopping experience in 2020. Shedding even more light on the past year’s seismic shift on consumer habits, the Cox Automotive Car Buyer Journey Study: Pandemic Edition noted that car buyers are more decisive than they have ever been. The amount of time spent researching and shopping online dropped by more than two hours from 2019 – and the average number of automotive websites that consumers visited also fell during this time.

So, what does this mean for car dealers? It underscores the fact that they have less time to capture the attention of car shoppers – and need to tailor their digital marketing strategies accordingly. Auto dealers’ media buys should therefore align with the desired journey of today’s car buyer.

For retailers, an efficient marketing spend starts with the right platforms. Traditional big data partners may be a main fit for the general marketing community, but dealerships need a more targeted approach to generate quality leads. In fact, the Car Buyer Journey study found that third party sites were the most popular first and last destinations for buyers over OEM sites, Google search, and other locations – indicating they are a must for dealerships to consider when advertising.

Before a dealer’s customers decide where and what they are buying, they’re being influenced by other dealerships. Successful dealers realize that while their CRM is indicative of their strategy’s overall success, it doesn’t provide crucial insight into the consumer’s entire buying journey and purchase process. These dealers know customers are cross-shopping prior to buying. This knowledge allows them to make informed decisions about their marketing presence and prioritize areas where they reach the most customers – the most often.

Autotrader allows dealers to influence the customer’s buying journey at every stage of the buying process – starting at the beginning. Autotrader and KBB.com are the top two third-party sites shoppers visit when they begin their search and are essential for lead generation. In fact, Autotrader led the industry with over 17k total vehicle sales in January 2021 as well as nearly 10% growth in its close rate. Importantly, Autotrader’s average gross profit per lead is $117 – 69% higher per lead than competitors – underscoring the value of generating quality leads and really selling the experience of a dealership.

Additionally, proactive outreach to buyers will better capture their attention during a shortened window of opportunity. Features ecosystem like Personalization and Relevant Search, target in-market shoppers with interactive content and displays that simplifies and advances the whole process. Cox Automotive solutions such as Audience Explorer are in place for dealers to identify shoppers that are interested in their inventory based on their online activity, offering yet another data-driven means of optimizing their marketing efforts.

Ultimately, the fact that satisfaction with dealership experiences was higher during the pandemic than ever before shows that there’s immense potential amid this online shopping environment. Digital retailing has driven higher loyalty and trust over the last year – and that connection can be initiated by retailers through a sound marketing strategy that reflects an intimate understanding of today’s car buying journey.