TBR Weekly Top 10 – Sept. 18

TBR Weekly Top 10 – Sept. 18

September 18, 2015 — Why you need corporate security; Changes in car buying; Preparing for normalization; Why you’ll never buy a driverless vehicle; OEMs slack approach to cyber security; Co-op money – what’s it good for? Hyundai’s future dealership. The TBR Weekly Top 10 is our list of what we believe are the week’s must-read stories… Continue Reading

Cliff Banks - The Banks Report

NADA Closing in on CFPB Victory? Not Quite, But Closer Than Ever

September 9, 2015 — In late July, following a sometimes bitter debate, the House Financial Services Committee cleared the way for legislation repealing the Consumer Financial Protection Bureau’s 2103 bulletin governing automotive lending. The move is a victory for The National Automobile Dealers Assn. which has lobbied vigorously the last two years to build bi-partisan… Continue Reading

July-August Dealership Buy-Sells Sizzling Pace

July-August Dealership Buy-Sells Sizzling Pace

September 9, 2015 — A torrid July and August in the dealership buy-sell market saw 81 rooftops change hands bringing the 2015 total to 322 through the first eight months of the year — just two shy of all of 2014’s total. Averaging about 40.25 buy-sells a month this year, the industry is on pace to…

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Cliff Banks - The Banks Report

“Punching” Sales Practice Under Fire from Maserati Dealer

September 3, 2015 — Last Friday, Stuart Hayim, owner of Recovery Racing, a group that owns Maserati and other luxury franchises in New York, New Jersey and Florida, filed a $200 million lawsuit against Maserati North America alleging the automaker forced dealers to participate in discriminatory incentive and sales programs designed to prop up sales numbers… Continue Reading

Cliff Banks - The Banks Report

Fiat Chrysler’s Big Show in Vegas – A Lot of Hype

August 26, 2015 —  An unexpected strong second quarter and big dealer party this week in Las Vegas to show off more than a dozen new vehicles along with promising nearly 30 newly redesigned or brand new vehicles over the next 24 months have Fiat Chrysler dealers celebrating. But there is trouble under the hood.  Call…

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Monster Deals Pending in Automotive Retail

Monster Deals Pending in Automotive Retail

August 22, 2015 — By the end of the year, it is conceivable the automotive retail industry may see at least three publicly traded vendors go private in deals ranging from $4.5 billion to $9-$10 billion. Dealertrack, CDK Global and Solera Holdings, all multi-billion dollar vendors, are either close to or are exploring sales to private…

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AutoNation Acquires 16 Stores

AutoNation Acquires 16 Stores

August 18, 2015 — AutoNation announced this morning its biggest acquisition by revenue since 2001. The nation’s largest dealer group is acquiring 16 dealerships — 13 from Carl Gregory Enterprises and three stores owned by the Valley Motors Auto Group. Combined, the stores generated more than $600 million in revenue in 2014 on nearly 20,000 new and used…

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