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it TuesdayAfter a few conversations with Cliff Banks (one of which was a watchable RefreshFriday: here) it sounds like Cliff is considering moving Cox Automotive away from buying status to selling status. His reasoning for doing that is due to a comment Mark O'Neil, COO of Cox Auto and former CEO of Dealertrack, made at a recent talk. Mark said that Cox believes the future of automotive retail is in fleet purchases. He further went on to say that within the next 10 years fleet deals will account for over 50% of all automobile purchases in the United States.In my opinion, and Cliff says I'm thinking in the right direction, this means Cox will not need the same kind of investments in all of it's consumer-facing products. That's KBB, Autotrader, Dealer.com, MakeMyDeal and potentially VinSolutions.After stumbling upon this old thread it got me laughing in my head about how this whole scenario has shifted. If it actually shifts. At the end of the day, I can only believe that Mark is lost in the corporate echo chamber that is so easy to fall prey to. I was in it not too long ago myself. It is an echo chamber that believes autonomous vehicles will be here pretty soon. Now that I'm out of that echo chamber, I'm not of the same opinion anymore.
it Tuesday
After a few conversations with Cliff Banks (one of which was a watchable RefreshFriday: here) it sounds like Cliff is considering moving Cox Automotive away from buying status to selling status. His reasoning for doing that is due to a comment Mark O'Neil, COO of Cox Auto and former CEO of Dealertrack, made at a recent talk. Mark said that Cox believes the future of automotive retail is in fleet purchases. He further went on to say that within the next 10 years fleet deals will account for over 50% of all automobile purchases in the United States.
In my opinion, and Cliff says I'm thinking in the right direction, this means Cox will not need the same kind of investments in all of it's consumer-facing products. That's KBB, Autotrader, Dealer.com, MakeMyDeal and potentially VinSolutions.
After stumbling upon this old thread it got me laughing in my head about how this whole scenario has shifted. If it actually shifts.
At the end of the day, I can only believe that Mark is lost in the corporate echo chamber that is so easy to fall prey to. I was in it not too long ago myself. It is an echo chamber that believes autonomous vehicles will be here pretty soon. Now that I'm out of that echo chamber, I'm not of the same opinion anymore.
