By Bob George, AVP of Product, Dealer.com

If dealers have learned anything over the last few years, it’s to stay on their toes. Whether they have leaned into digital retailing or overhauled their consumer privacy protocols, dealerships have seen more innovation in the last two years than many have seen in their whole careers. The marketing game has also fundamentally changed. It’s no longer about being everywhere all the time. With the right data, dealers can market more efficiently and reach the right consumer, with the right message, at just the right time.  

An industry-wide movement is taking place and dealerships who resist or don’t get onboard risk seeing their lots get left in the dust. The million-dollar question is: How do dealers embrace this revolution and make the RIGHT marketing changes to support the current landscape and set them up for success in the future?

Get Personal

As consumer behavior changes and digital competition continues to increase, dealerships must figure out how to cut through the noise and get personal with consumers. That starts with figuring out how to make your best offerings discoverable. But it’s not enough to focus on new customers; you also need to tie these acquisition efforts to retention, which drives long-term, sustainable growth.

Remember, a seamless experience isn’t just cross-channel marketing, it's about moving customers along the buyer journey with traditional marketing tactics, while instilling a long-term sense of loyalty and value. Find the balance between what the consumer wants to get out of any given interaction with your brand and what your business needs to get out of it, then make sure to keep the barrier to entry for consumers as low as possible.

Data is Gold

Dealers decrease the leads they generate by 164% if they fail to use a data-driven, multichannel strategy. However, marketers need to do more than just gather data—the data needs to be meaningful to improve marketing campaigns.

To future proof your marketing, intent data is key. Intent data is information specifically about a person or company's activities. It can be gathered from a company website by looking at which pages a customer visited, how long they stayed on those pages, and which links they clicked or procured from a third party. Intent data can be used to prioritize the best customer prospects and create more personalized campaigns to drive better conversion. 

By Bob George, AVP of Product, Dealer.com

By: Derek Hansen, vice president of wholesale, vAuto

Vehicle wholesaling was turned on its head during the pandemic, and I would argue that it’s changed for the better. Even with physical wholesaling options, more dealers than ever are turning to digital wholesale platforms to purchase inventory. That’s a great thing for sellers, as more eyeballs on their cars have no doubt contributed to the banner profitability most have seen in wholesale recently. However, it’s important to realize that the recent seller success has much more to do with market conditions (high wholesale values and limited inventory) than a newfound strategy or discipline.

And since we all know that what goes up in wholesale usually comes back down—at least to some degree—now is the time to make the strategic shift that can help sellers keep their wholesale efforts generating profits.

Progressive dealers are already rewriting the rules of wholesaling. The most successful ones are starting at the time of acquisition—a shift from the traditional retail-first approach.

Deciding when to wholesale a vehicle has changed.

With tight supply in used cars over the last year, we’ve seen a rise in dealers activating “we’ll buy your car” campaigns just to get inventory, sometimes even flipping those vehicles right into wholesale. As wholesale values appreciated month after month, dealers realized that, in some cases, wholesaling the vehicle right away represented the exit strategy that made the most financial sense for the vehicle and the dealership. This double-barreled evaluation of each vehicle’s retail or wholesale exit, at the time of acquisition, represents a competitive advantage for dealers who need to make money with every vehicle they acquire, irrespective of whether the profit comes from the retail or wholesale market. 

And with the ease of offsite wholesaling—where dealers can sell vehicles right from their lots—the process of getting a vehicle into the wholesale marketplace has been dramatically transformed. Offsite solutions such as Manheim Express eliminate transport costs since the vehicles don’t have to be moved to a physical auction, while also enabling those vehicles to get listed quickly with leading condition tools to showcase them well. Sellers love it, and buyers do too, as evidenced by the triple digital growth Manheim Express has seen year-over-year.

With all these trends converging, it’s no wonder that we’ve started to see some of that double-edged thinking already put in motion. That approach has served dealers well in this market—and it has the potential to continue serving them as the market shifts back closer to normal.

What happens when the market goes back to “normal”?

We firmly believe that wholesale can and should be profitable in any market—and that’s where Cox’ Automotive’s new Upside™ solution comes in. When dealers get a Kelley Blue Book Instant Cash Offer for a vehicle and then select to wholesale it in the Upside Direct digital auction, they will know at the time of appraisal what their minimum profit will be—no matter what the vehicle actually sells for. 

All vehicles are listed with no reserves and bids start at 50% of MMR, so the unit will almost certainly sell. And if the vehicle sells for a price above the Upside minimum, the seller gets to keep the lion’s share of the additional profit. Ultimately, Upside gives sellers even more reasons to lean into a new approach, as it offers an easier and more assured opportunity to maximize profitability for their vehicles.

You may be wondering how we can be so confident in this new way to wholesale that we practically guarantee sellers wholesale profit in any market conditions. The answer is simple. We’ve taken every piece of research, data and best practice we’ve learned from touching the entire retail-to-wholesale process for decades and put them all into practice in one seamless experience.

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• 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

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Digital Transformations in the Auto Industry Continue to Rise, Supporting Faster Processing of Total Loss Titles

NORTH HILLS, NY and WESTCHESTER, IL, June 9, 2021 – IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, today announces an enhanced strategic agreement with Dealertrack to provide electronic registration and titling services in Ohio through facilitating the digital transfer of total loss titles. The agreement is announced as the global COVID-19 health crisis continues the acceleration of digitization efforts across the automotive industry, which faces yet another challenging year ahead due to the ongoing impacts of inventory shortages. These digital capabilities will be essential for dealerships to meet consumer expectations of completing more of the shopping experience online, as more than three quarters of today’s shoppers are open to the idea of buying a vehicle completely online.[1] The enhanced capabilities offered by IAA and Dealertrack will connect consumers, dealerships, and insurers in Ohio for a more efficient, more profitable electronic total loss title processing experience.  

The pandemic changed longstanding industry dynamics in several unforeseen ways. In particular, the total loss segment of the market has been affected by the circumstances of the last year. According to industry data, in 2020, overall traffic volume decreased by 14%, with passenger interstate travel dropping more than 50% in mid-April alone.[2] Even with drivers traveling fewer miles and submitting fewer overall claims, accident severity levels rose due to drivers increasing their median speeds. The percentage of vehicle claims that were non-drivable and flagged as total losses rose over the previous two years. Repair costs also trended higher during most of 2020, increasing 4.9% between 2019-2020, compared to 3.6% increases between 2018-2019.[3] Higher repair costs in turn are pushing insurance companies to total vehicles that previously would have been restored.

These higher costs and totaled cars arrive amid a tight used car market due to industry-wide supply constraints caused in part by electronic chip shortages reducing availability of new vehicles that will likely persist in the coming months. The good news is the pace of digital transformation has greatly increased to keep up with this challenging environment. Prior to the pandemic, total loss title processing often took 8-10 weeks. This caused a delay in transferring ownership of total loss vehicles, which stalled cash flow for insurance companies, dealers and the downstream players who derive value from fixing, parting out or recycling salvaged vehicles. Twenty-five (25) states offer Electronic Lien and Title solutions (ELT) and 29 allow electronic registration and titling (ERT), including Ohio, which is eligible to transfer total loss titles digitally. Prior to the collaboration in Ohio, IAA and Dealertrack Registration and Title Solutions announced a strategic agreement in July 2020 when North Carolina passed a bill to become the 25th state to offer ELT services.

“Insurance companies need to control costs and cycle time, so there is less of a lag between making the customer whole and moving the vehicle value to the final party,” said Tab Edmundson, vice president of client solutions for IAA. “This IAA and Dealertrack collaboration has the potential to expedite back-office workflow and improve deal efficiency by leaps and bounds.”

More than 5 million vehicles are declared a total loss each year, according to IAA estimates, and up to 70% of those vehicles carry a loan.[4] The IAA Loan Payoff solution, which was recently enhanced with Dealertrack Payoff Quote, can reduce the time to secure a vehicle title for a total loss claim by up to 50%, which can result in greatly reduced storage costs and vehicle depreciation. 

“We’ve seen more titling legislative activity in the last year than we’ve seen in the last 50 years because many of these laws were written in the 1950’s when digitization wasn’t a consideration,” said Kaitlin Gavin, vice president of operations, Dealertrack Registration and Title Solutions. “The last year catalyzed digital transformation and adoption in many parts of the auto industry including the total loss sector. Thanks to strategic agreements like the one between Dealertrack and IAA. Technology such as the Ohio electronic titling solution can accelerate the loan payoff and the title release, which not only improves sales velocity, but improves the bottom line for dealerships in Ohio and across the country.”

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About Dealertrack

Dealertrack provides industry-leading software solutions that give dealerships, lenders, and partners the confidence to thrive in an ever-changing automotive market. The company’s integrated suite of powerful easy-to-use products and services helps dealerships and their lending partners grow by increasing efficiency and improving decision-making. Dealertrack is part of the Cox Automotive family, a company that is transforming the way the world buys, sells, owns and uses cars. Dealertrack—along with its unmatched network of dealership and lending partners—is improving the car buying experience by embracing the technologies that will shape the future of automotive retail. For more information about Dealertrack, visit www.dealertrack.com.

About IAA
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles.  Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom.  IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.   For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn.  

Please refer to IAA's forward-looking-statements disclosure.

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

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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

Volkswagen Strength Driven by Best-Selling Models; Tesla Falls on Price Declines for Its Most Expensive Vehicles

IRVINE, Calif., May 18, 2021 – The estimated average transaction price for a light vehicle in the United States was $40,768 in April 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $864 (up 2.2%) from April 2020, while increasing $92 (up 0.23%) from March 2021.   

“Comparing the market to this time last year when COVID-19 brought the industry to a halt, highlights an increase in demand, sales, and vehicle prices all have contributed to continually rising transaction prices,” said Kayla Reynolds, industry intelligence analyst at Cox Automotive. “Many manufacturers reported year-over-year growth in average transaction prices with Volkswagen Group seeing the largest increase year over year (up 9%), while Tesla had the greatest decrease from last year, down 10.3%.”

The strength of the Volkswagen brand, up 6.8%, was driven by its two best-selling models, the Atlas and Tiguan, both increasing approximately $3,000 on average since last year. Audi, up 6.7%, reported a 30% year-over-year increase in the average transaction price of its second-highest-priced model, the A7, which also increased in sales from April 2020.

While Volkswagen’s transaction prices rose last month, the story was different for Tesla. The Model X and Model Y, the brand’s two most expensive vehicles, dropped 9% in average transaction prices from last year. 

At the segment level, luxury full-size SUVs and crossovers had the largest year-over-year growth (up 14.4%). Luxury full-size utility vehicles posted the second-highest average transaction prices at $98,017, just behind high-end luxury cars. All models in the luxury full-size utility segment experienced an increase, including the Cadillac Escalade, Lincoln Navigator, Lexus LX, Land Rover Range Rover and more. More than half of the vehicles in this segment also experienced large gains in sales year over year.

Electric vehicle prices dropped 10.8% year over year, driven mostly by the drop in Tesla transaction prices. The electric vehicle segment average decline, down more than $6,000, was due to the introduction of more reasonably priced electric vehicles recently hitting the market, including the Volkswagen ID.4 and Mustang Mach-E

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

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Media Contact:

Brenna Buehler                                                                               

949-473-6595                                                    

brenna.buehler@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

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Media Contact:

Brenna Buehler 

949-473-6595 

brenna.buehler@coxautoinc.com