Demonstratingits industry leadership and goal of transforming the way cars are bought andsold, Cox Enterprises announced today the formation of Cox Automotive. Thismove brings together more than 20 leading wholesale and retail automotivebrands, including Manheim, AutoTrader.com and Kelley Blue Book. The creation ofCox Automotive further strengthens the company’s investment in the automotiveindustry and provides end-to-end global solutions for customers throughout thevehicle lifecycle.
CoxAutomotive companies have relationships with more than 40,000 dealers, as wellas most major automobile manufacturers. Sandy Schwartz, who until now has heldthe dual roles of president of Manheim and AutoTrader Group, will serve aspresident of Cox Automotive.
“Coxis the industry leader in marketing and remarketing vehicles, and this movereinforces our company’s confidence in the global automotive industry,”said Cox Enterprises’ President and CEO John Dyer. “Over the past severalyears, we have invested in different segments of our auto business, from dealerservices to our top-rated consumer brands. Under Sandy’s leadership, ourwholesale and retail automotive brands have thrived and we are committed toleveraging opportunities to better serve and add value to our customers.”
WhileCox Automotive will be the banner company for the diverse portfolio of globalautomotive businesses, each business will retain its individual brand. Thenewly formed Cox Automotive businesses will be organized around five core areasproviding both domestic and global presence. The core areas are below andinclude:
- Auto Auctions and Wholesale Services: Manheim North America, ExportTrader.com, DealShield, Go Auto Exchange, Ready Auto Transport
- Financial Services: NextGear Capital, Go Financial
- Media: AutoTrader.com, Kelley Blue Book
- Software: HomeNet Automotive, Haystak Digital Marketing, vAuto, VinSolutions
- International: Manheim International, www.Dealer-Auction.com, BitAuto, Motors.co.uk, Jingzhengu, Manheim Retail Services, RMS Automotive, Modix
Eacharea will continue to focus on their respective products and servicesexpertise, while working to identify ways that its collective offerings canbetter serve customers.
Throughthese companies, Cox Automotive is able to leverage its extensive data assets,knowledge and industry-wide insights to help customers make better decisionsfor their businesses.
Cox’sindustry-leading AutoTrader.com and KBB.com web sites attract more than 32million unique monthly visitors, with 67 percent of all car buyers relying onthese sites when shopping for a car. And, as a leading global provider ofremarketing services, Manheim registers nearly seven million used vehiclesannually, facilitating transactions representing nearly $46 billion invalue.
“Overthe past few years, I’ve been excited to be a part of an industry that istaking a leading role in driving economic growth, innovation and greaterefficiencies,” said Schwartz. “We formed Cox Automotive because weknow that the automotive space is not one where any of us can go italone. Our goal is to pave the way for our customers by offering themunique perspectives, industry insights and end-to-end solutions that delivergreater business value.”
About Cox Enterprises:
Cox Enterprises is a leading communications, media and automotiveservices company. With revenues of nearly $16 billion and approximately 50,000employees, the company’s major operating subsidiaries include CoxCommunications (cable television distribution, high-speed Internet access,telephone, commercial telecommunications and advertising solutions); Cox MediaGroup (television and radio stations, digital media, newspapers and advertisingsales rep firms); and Cox Automotive (automotive-related auctions, financialservices, media and software solutions). The company’s major national brandsinclude AutoTrader.com, Kelley Blue Book, Manheim, Savings.com and Valpak.
About Cox Automotive:
Cox Automotive is a leading provider of vehicle remarketingservices and digital marketing and software solutions for automotive dealersand consumers. Cox Automotive, a subsidiary of Atlanta-based CoxEnterprises, includes Manheim, AutoTrader.com, Kelley Blue Book, vAuto,NextGear Capital, and a host of global businesses and brands serving customerssuch as auto dealers, manufacturers and financial institutions. Headquarteredin Atlanta, Cox Automotive employs nearly 24,000 employees in over 150locations worldwide. The company partners with more than 40,000 dealers, aswell as most major automobile manufacturers, and touches over 67 percent of allcar buyers in the U.S. with the most recognized brands in the industry. CoxAutomotive unites more than 20 brands in this space, providing an end-to-endsolution to transform the way people buy and sell cars every day.