Coronavirus has been acknowledged among a series of “significant challenges” facing the automotive retail sector in the middle to long-term in Cox Automotive’s monthly Market Tracker report.
Unpredictable trading conditions prompted a drop in retail demand for 65% of car dealers, according to the latest sentiment survey from Modix.
Modix has announced that its managing director Darren Sinclair will take up the appointment of chief customer officer in a senior management reshuffle.
Car dealers reported a 60% decline in demand during March as reaction to political uncertainty over Brexit the introduction of WLTP-related taxation changes caused owners to hold on to their cars for longer.
Wholesale used car prices rose by 0.5% month-on-month in February as car retailers continued to express their concerns about margin compression, Cox Automotive reported.
Cox Automotive has reported that volumes of nearly-new diesel vehicles declined in January as the used car sector showed stability by “following its normal seasonal pattern”.
Modix has announced it has signed a new partnership with Toyota GB which will see its AdBox marketing solution rolled out across the Japanese brand’s dealer network.
Modix has welcomed Paul Flanagan and Jules Rastelli as two “industry heavyweight appointments” to its senior team.
GardX has signed a strategic reseller partnership with Modix UK, part of Cox Automotive, for the Spincar 360 imaging product.
Modix has announced the appointment of Julian McClung as head of product and Jason Jones as head of delivery as it continues to expand its retailing platform.
Modix and Xtime join existing Cox Automotive brands in the UK, including Manheim, Motors.co.uk, NextGear Capital UK, Dealer Auction and Movex.
