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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Average Throughput on Pace for Record Says Urban Science

Average Throughput on Pace for Record Says Urban Science

August 25, 2015 — As automotive sales continue to increase, the average sales per dealership — or throughput, to use industry vernacular — is on its way to a fourth consecutive annual record according to Urban Science’s 2015 midyear Automotive Franchise Activity Report. The report projects that throughput will hit approximately 945 new vehicle sales per… Continue Reading

Cliff Banks - The Banks Report

NADA’s Dealer Attitude Survey – Stating the Obvious

August 24, 2015 — The National Automobile Dealers Association surveys its members twice a year on their perception of their manufacturers. The folks at NADA would prefer the results of its Dealer Attitude Survey not make its way into the media, but the enterprising reporters at Automotive News (way to go Lindsay Chappell) got their hands on… Continue Reading

Cliff Banks - The Banks Report

Like Honda, Toyota to Ban Below Invoice Advertising

August 23, 2015 — Like Honda, Toyota to Ban Below Invoice Advertising Confirming what we’ve been hearing for several weeks now, Automotive News is reporting that Toyota will inform its dealers next month that it will begin to prohibit its dealers from advertising below invoice pricing for its vehicles. The move, which is expected to… Continue Reading

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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Cliff Banks - The Banks Report

Dealertrack to Sell Inventory Solution to Dealersocket

August 20, 2015 — Dealertrack informed its employees this morning (and announced in a press release) that it is selling its suite of Inventory+ solutions (formerly AAX) to Dealersocket for $55 million in cash. The announcement likely means Cox Automotive’s pending $4 billion acquisition of Dealertrack is nearing commpletion. In-depth analysis of vendor activity in… Continue Reading

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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Spireon’s Inilex Play Positions It for Future Acquisition

Spireon’s Inilex Play Positions It for Future Acquisition

August 3, 2015 — Two weeks ago, Spireon, backed by private equity firm Bertram Capital, announced the acquisition of privately-held Inilex, a leading GPS recovery solutions provider for an undisclosed sum. The Spireon name probably isn’t familiar to many in the automotive retail space, but it will be soon as the deal could be an intriguing play with significant…

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