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Last week, Cox Enterprises announced the formation of Cox Automotive, an entity that includes more than 20 wholesale and retail auto brands — among them Manheim, AutoTrader.com and Kelley Blue Book, reported Auto Remarketing.
Forming Cox Automotive, officials said, “further strengthens the company’s investment in the automotive industry and provides end-to-end global solutions for customers throughout the vehicle lifecycle.”
Sandy Schwartz, who had held separate roles as both president of Manheim and as president of the AutoTrader Group, is now president of Cox Automotive.
“Cox is the industry leader in marketing and remarketing vehicles, and this move reinforces our company’s confidence in the global automotive industry,” said Cox Enterprises’ president and chief executive officer John Dyer. “Over the past several years, we have invested in different segments of our auto business, from dealer services to our top-rated consumer brands.
“Under Sandy’s leadership, our wholesale and retail automotive brands have thrived and we are committed to leveraging opportunities to better serve and add value to our customers,” Dyer added.
Cox Automotive will serve as the banner company for the various international and domestic auto entities; however, the individual brand of each business remains intact.
They will be organized into five core areas, as follows:
Auto Auctions and Wholesale Services: Manheim, 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: www.Dealer-Auction.com, BitAuto, Motors.co.uk, Jingzhengu, Manheim Retail Services, RMS Automotive, Modix
“Over the past few years, I’ve been excited to be a part of an industry that is taking a leading role in driving economic growth, innovation and greater efficiencies,” said Schwartz. “We formed Cox Automotive because we know that the automotive space is not one where any of us can go it alone. Our goal is to pave the way for our customers by offering them unique perspectives, industry insights and end-to-end solutions that deliver greater business value.”
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