Cox Focuses on ‘Way Forward’

By Staff Writer July 01, 2020 1287
Cox Enterprises Headquarters park in Atlanta, Georgia. Cox Enterprises Headquarters park in Atlanta, Georgia.

Cox Automotive President and CEO Sandy Schwartz recently discussed his strategic plan called “The Way Forward,” during the company’s recent Mid-Year review.

“These are just crazy times,” Schwartz said. “We’ve gone from selling 50 percent online at Manheim to 100 percent online.”

But that’s not bad news.

Schwartz said Manheim’s flagship auction – Manheim Pennsylvania – recently sold 8,000 vehicles in one week, all digitally.

Plotting “The Way Forward,’ involves three areas, Schwartz said.

No. 1 is accelerating digital adoption to meet dealer demand. That means, creating the touchless car buying experience consumers want, while nurturing long-lasting service relationships and freeing time and resources to better serve customers, he said.

“This isn’t a new tune, we’re just beating the drum more loudly and a lot more,” Schwartz said.

When Cox asked Schwartz to run Manheim about a dozen years ago, Manheim was only selling 5 to 8 percent of its cars in some digital form. It took over 10 years to get to 50 percent, but the pandemic has moved that figure to 100 percent in just the last couple of months, Schwartz said.

The company has numerous tools to accelerate digital adoption.

“We can’t go backwards,” he said.

The second part of “The Way Forward,” is a focus on real-time market insights to fuel and help Cox Automotive’s customers make the best market decisions at all times.

Schwartz said Cox, with tools across more than 20 brands, has “unmatched data and analytics” to help with both wholesale and retail products.

No. 3 is to “be human at your core,” Schwartz said. This has to do with make continued safety the top priority for employees and customers. It means to nurture relationships and deepening customer ties by giving back to the community. It also means choosing business partners that share the same values.

Schwartz said despite Cox’s focus on technology, it’s “still the human touch, it’s still the human direction, that drives our technology.

“Trust is vital and the human touch must be felt in everything Cox does, from eco-friendly sanitizers in cleaning vehicles to social justice issues in communities.”

Rate this item
(2 votes)
Last modified on Monday, 13 July 2020 14:18