Cox Automotive Names Lori Wittman as New President of Retail Answers and Amy Mills as Govt Vice President and Chief Technique Officer

ATLANTA, March 4, 2022 /PRNewswire/ — Cox Automotive right now named Lori Wittman as the new president of the company’s Retail Alternatives group and Amy Mills as Government Vice President and Main System Officer. Each will report instantly to Steve Rowley, president, Cox Automotive.

Lori Wittman

The promotions signal the automotive tech and services giant’s commitment to transforming the business by creating car or truck obtain, organization success and a more sustainable planet for absolutely everyone, and affirms the company’s solid perception in the power of a numerous and inclusive executive suite.

Lori Wittman: Developing retail connections by facts and individuals

Cox Automotive Retail Answers contains powerhouse brands Autotrader®, Kelley Blue Book®, Dealertrack®, Seller.com, VinSolutions and Xtime. Wittman, who most lately held the role of SVP of Seller Computer software, takes around for interim team President and Chief Strategy Officer Amy Mills. Mills stepped in when Keith Jezek introduced his retirement from Cox Automotive earlier this calendar year.

“Lori has the best combination of organization acumen, staff developing, decisiveness and potential-forward vision to guide our effective suite of Retail Methods,” Rowley claimed. “The momentum these businesses now have is plain. Lori will continue on to connect the automotive practical experience for the client and produce unparalleled, transformational value to our supplier, financial institution and OEM clients.”

As Senior Vice President of Dealer Application Alternatives at Cox Automotive for the past six years, Wittman effectively navigated recession, the COVID-19 pandemic and the worldwide supply lack by harnessing the power of Cox Automotive facts and men and women to revolutionize the automobile obtaining knowledge.

Wittman, who went from rising up on a farm in Kansas to consulting in the tech house, credits a people-centric operating ecosystem for fueling the in close proximity to 20% YOY expansion rate that’s marked her tenure major Supplier Application Remedies, which serves extra than 10,000 dealers and generates additional than $1 Billion in annual profits.

Operating across distant, remote get the job done facilities in Atlanta, Kansas Metropolis, Silicon Valley, Burlington and Salt Lake City, she and her team have amassed a huge assortment of ‘Best Locations to Work’ awards. Wittman has devoted plenty of several hours to furthering Cox’s variety and inclusion initiatives, foremost many systems and talking often to advocate for equal advancement for all.

“I am honored and deeply influenced to carry on the superb perform Cox Automotive Retail Solutions is acknowledged for,” said Wittman. “Each day my laser concentrate will be on making sure our group has almost everything they need to deliver breakthrough solutions and products and services for our purchasers, that genuinely completely transform our marketplace so that every person wins.”

Amy Mills: Driving expansion and profitability for corporation, clientele

Mills has been element of Cox Automotive’s Govt Management Team for the very last numerous many years, reporting to CFO, Mark Bowser. In this new purpose, Mills will report instantly to Rowley, to travel the firm’s

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Cox Automotive Looks Forward Into the Year Ahead

ATLANTA, Jan. 13, 2022 /PRNewswire/ — In the early days of 2022, the Cox Automotive Industry Insights team lays out 10 trends that will shape the auto industry in the year ahead. Overall, the Cox Automotive team is optimistic for the industry. New-vehicle sales are expected to reach 16.0 million, an increase of more than 7% from 2021, while used-vehicle sales will remain strong and above 39 million. Inventory will continue to be challenged in the first half of 2022 but should improve in the second half. Unlike 2021, the second half of 2022 will likely be stronger than the first half. 

When it comes to crystal balls and predictions, however, even the Cox Automotive Industry Insights team knows that looking forward and into the future is never easy.  

“As we move into 2022, our team has a number of expectations for the industry,” notes Cox Automotive Chief Economist Jonathan Smoke. “We believe the auto business is in for a healthy year. Yes, there will be unexpected pitfalls, but those who remain flexible and agile will manage just fine in the year ahead.”

The Cox Automotive Industry Insights team will be particularly focused on these 10 trends that will shape the auto business in 2022.

#1: Vehicle Demand Will Remain Robust, Especially Through the First Half
While the pandemic has been rough on many U.S. consumers, there is sufficient demand in the market to support healthy new- and used-vehicle sales in the year ahead. Recent surveys indicate consumers are expecting higher vehicle prices in 2022, but enough buyers will be in market to support 16 million new-vehicle sales, according to the Cox Automotive 2022 forecast. Total used-vehicle sales are forecast to be 39.3 million, down slightly from 2021 but still a healthy volume.

#2: Used-Vehicle Values Will Depreciate Again, After the Spring
Last year, with new-vehicle inventory historically low, used-vehicle demand increased notably, driving prices higher. At auction, used-vehicle values set new records in each of the final four months of 2021, according to the Manheim Used Vehicle Value Index. Retail prices followed, with the average used-vehicle listing price above $28,000 in December 2021, a record. Used-vehicle prices normally increase in the spring, so the market will see further gains. In the second half of 2022, however, the team is forecasting price increases to end, and a more normal pattern of depreciation to resume.

#3: Tight Vehicle Supply Will Gradually Improve
The central story for the auto industry in 2021 was tight inventory. Supply chain disruptions and production slowdowns due to COVID outbreaks wreaked havoc on product availability, and never in memory was new-vehicle inventory lower. In the second half of 2021, inventory was roughly one-third of the pre-pandemic level, dropping below 1 million units. The process will be slow, but the Cox

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