ATLANTE, February 24, 2022 /PRNewswire/ — Cox Automotive today launched DRiVEQ, the official brand of the company’s dynamic data intelligence capabilities that powers the industry’s largest portfolio of automotive solutions and services. DRiVEQ combines Cox Automotive’s extensive portfolio of first-party automotive data, sourced from the company’s many end-to-end automotive solutions, with cutting-edge artificial intelligence technology. DRiVEQ is the engine that powers Cox Automotive’s ability to provide valuable business information, services and solutions not only to the company’s many customers, but to the automotive industry as a whole.
Cox Automotive today launched DRiVEQ, the official brand of the company’s dynamic data intelligence capabilities.
“We are entering a new era of growth and innovation as we bring products, engineering and data to solve some of the most complex challenges facing the automotive industry,” said Cox Chairman. Automotive. Steve Rowley. “And we’re doing it at the speed and scale that no one else can deliver to support our customers’ success.”
Cox Automotive is one of the largest automotive service providers in the world and manages a portfolio of solutions that touch nearly every aspect of the modern automotive industry. The company’s data intelligence engine, DRiVEQ, is powered by the largest amount of first-party data in the automotive ecosystem and helps Cox Automotive create actionable insights to drive better business outcomes for customers and customers. industry as a whole. DRiVEQ organizes Cox Automotive’s vast amount of data into three key categories:
Consumer Intelligence: Brought together through first-party web activity, including industry leaders Kelley’s Blue Book, Autotrader and Dealer.com, as well as consumer store visit records. Each year, Cox Automotive hosts 2.3 billion online visits, manages 80 million leads and analyzes 2.9 trillion pieces of consumer information.
Market knowledge: Built from software systems that feed wholesale and retail listings, sales transactions, supply and demand indicators, and pricing and incentive datasets. Each year, Cox Automotive helps facilitate 27 million vehicle sales, 48 million credit inquiries and 4.4 million trade-in requests. Cox Automotive handles 18 billion vehicle valuation requests each year.
Vehicle Intelligence: Collected from construction data, vehicle images, inspection reports, battery condition measurements and service records. Each year, Cox Automotive sees 30 million VINs on the market, handles over 100 million service cases and completes 3.5 million condition reports.
“At Cox Automotive, the breadth of our first-party data is our superpower,” notes the chief product officer. Marianne Johnson. “Thanks to DRiVEQ, we have unified the data streams of all our activities on a single platform. By applying artificial intelligence to this organized and connected data, we are able to provide predictive information and recommendations that no one “Nothing else can. These smart solutions, in turn, drive better outcomes for our dealer, lender, OEM and fleet owner customers and also streamline consumer automotive experiences.”
Cox Automotive’s significant investments in cloud technology, machine learning capabilities, and top engineering and data science talent are also key factors in bringing DRiVEQ to life. Leveraging these investments, Cox Automotive applies new technologies, such as computer vision, natural language processing and advanced statistics, to solve complex problems in the automotive industry. With the capability of DRiVEQ, Cox Automotive can better serve the entire vehicle lifecycle, through purchase, purchase, ownership and disposal.
The Cox Automotive family of brands – more than 20 in all – offers an unparalleled portfolio of products and services to customers to simplify workflows, eliminate friction and enable the smart, connected experiences expected by dealerships, OEMs, lenders, fleet managers and consumers. .
“Data and intelligence have always been at the center of Cox Automotive’s operations,” said Ken Kraft, marketing director at Cox Automotive. “Making a brand name official is important because it will help us communicate our leadership in the data intelligence market. When our partners and customers see DRiVEQ, they should know that they are using the best data intelligence solutions industry, made possible only by Cox Automotive.”
The ability to seamlessly integrate many unique solutions is what enables Cox Automotive to provide its customers with the tools to build profitable, forward-thinking businesses, and for all consumers to benefit from an experience of personalized and actionable purchase. And the work never stops. In 2022, Cox Automotive will launch 37 new products, 55 new integrations and approximately 10,000 product enhancements, all powered by Cox Automotive DRiVEQ. Many new and updated solutions and products will debut in March at NADA 2022.
About Cox Automotive
Cox Automotive Inc. makes it easier for everyone to buy, sell, own and use vehicles. The 27,000+ team members and global company family of brands including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions® , vAuto® and Xtime®, are passionate about helping millions of car buyers, 40,000 automotive dealership customers across five continents, and many more in the automotive industry to thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately held, AtlantaNew York-based company with annual revenue of nearly $20 billion. www.coxautoinc.com
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SOURCE Cox Automotive