CarMax, Inc. announced its board of directors has elected Mark O’Neil as a director.

O’Neil, 61, retired as COO of Cox Automotive in March. He was named to that position in 2016 following Cox’s acquisition of Dealertrack, where he was chief executive officer and a director. O’Neil worked on the development and rollout of CarMax and served in various roles at CarMax from 1992 until 2000, including as vice president from 1997 to 2000.

“Mark is an automotive industry veteran with significant experience in bringing digital innovations to market,” said Bill Nash, chief executive officer of CarMax.

Dealer sentiment is higher among franchise dealers than independents, according to the Q3 2019 Cox Automotive Dealer Sentiment Index (CADSI).The index reading of 48 indicates that slightly more dealers feel that the current market is weak compared to the number who feel the current market is strong.

The report stated franchised dealers, for example, feel the current market is strong, with an index score of 56, a two-point increase from Q2. Independent dealers, on the other hand, feel the current market is weak, with an index score in Q3 of 46, a two-point decrease from Q2.

“Dealers are becoming less optimistic as they consider the future,” said Cox Automotive Chief Economist Jonathan Smoke. “We also continue to see a big difference in outlook by type of dealer, as sentiment consistently skews more positive for franchises compared to independents.”

Market conditions remained in the top spot as the most cited negative factor for both groups.

Cox Automotive Rates & Incentives (CAR&I) announced the introduction of three new enhancements that will generate a more consistently accurate industry indicator of retail buying motivation, available on a monthly basis.

First launched as its own brand in 2016, CAR&I is the powerful combination of two of Cox Automotive's well-known operations: Dealertrack Rates & Residuals, a data provider for lease and residual value calculation, and AIS Rebates, a reader-friendly guide to incentivized manufacturer offers. Both brands demonstrated decades of success before joining forces to power CAI applications and external client needs. CAR&I’s incentive database contains more than 10 million individual data points collected across all industry verticals. The addition of three new enhancements include:

  • Automation of data input: facilitates added speed and accuracy of information release by allowing dealers and software integrators to publish and update new incentives quicker for more precise and up to date offers and discounts;
  • Dynamic transaction templates: reformatting data allows for real-time deal scenario-building, enabling the consumer to transact 100 percent online with incentives that are specific to their household, vehicle and location with full compliance; and
  • Advertised specials: full set of OEM compliant tier I and II advertising offers used in digital advertising and competitive research making it easy to implement single integration for all OEM’s including factory and dealer disclaimers.

Clutch Technologies announced the integration of new features that use proprietary market data and powerful optimization technology developed by Cox Automotive Data Solutions (CADS), to help dealers and OEMs manage their loaner, subscription and mobility fleets.

Subscription providers now have the opportunity to leverage fleet valuations and remarketing data and better evaluate their optimal fleet size and mix.

The Clutch Subscription Platform will now incorporate solutions developed and managed by the Cox Automotive Data Solutions team.

Capitalizing on data from vAuto, and the CADS-generated algorithms that power Cox Automotive's Manheim Market Report (MMR) and Kelley Blue Book valuation products, the Clutch Subscription Platform now provides wholesale and retail vehicle valuation and gaps, and market supply and demand data to help identify the right time to remove vehicles from fleets.

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