Can TrueCar Rebound from its Tough 2nd Quarter?

Can TrueCar Rebound from its Tough 2nd Quarter?

July 31, 2015 — The first six months of 2015 have not been kind to TrueCar. The stock price, which was just under $23 on December 31, is now trading below $7. The question is, can the company rebound? The challenges seem to be piling up — multiple lawsuits; a significant second quarter earnings miss;…

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Cliff Banks - The Banks Report

TrueCar Settles — Wins — Legal Dispute with Sonic Automotive

July 29, 2015 — One lawsuit down, several more to go. In what is some much needed good news for online car buying platform TrueCar,  it announces it has reached a settlement with Sonic Automotive in a trademark dispute dating back to August 2013. The Banks Report first reported the dispute in September 2013 (TrueCar… Continue Reading

Cliff Banks - The Banks Report

Chip Perry’s New Gig

July 13, 2015 — One of the questions I’ve been asked the most the last few months is what is Chip Perry doing? Now we have an answer — and it’s not automotive-related. Today, RentPath LLC announced it has named Perry President and CEO. The firm is the parent company to sites Apartment Guide, Rent.com, Rentals.com… Continue Reading

Cliff Banks - The Banks Report

Asbury Sells BMW Store to Holman

July 13, 2015 — The Holman Automotive Group acquired Princeton BMW MINI in New Jersey today from the Asbury Automotive Group.  It is Holman’s second acquisition in the last several weeks as it acquired Audi of Willow Grove outside of Philadelphia in June. Holman operates approximately 22 franchises located in Pennsylvania, New Jersey and Florida. The… Continue Reading

Cliff Banks - The Banks Report

Private Equity & Automotive Retail – More Hype than Reality?

July 11, 2015 — Headlines in the trade press in January hyped the increasing involvement private equity would play in automotive retail — specifically in the acquisition of dealerships. On the heels of Warren Buffett’s announcement of that Berkshire Hathaway was buying the 81-store Van Tuyl automotive group (a deal that ended up being for… Continue Reading

Investor Sues to Stop Dealertrack Acquisition

Investor Sues to Stop Dealertrack Acquisition

July 7, 2015 — An investor in Dealertrack filed a lawsuit yesterday afternoon seeking to stop Cox Enterprise’s $4 billion acquisition of the Long Island, NY-based technology firm contending the deal prohibits investors from participating in Dealertrack’s projected growth while providing executives with golden parachutes. The suit claims the agreement is the “culmination of a…

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2015 Mid-Year Dealership Buy-Sell Report

2015 Mid-Year Dealership Buy-Sell Report

July 5, 2015 — Through June, dealership buy-sells continues to be vibrant and is on a record pace fueled by a strong May and June coupled with Berkshire Hathaway’s purchase of the Van Tuyl Group in March. Meanwhile, automakers continue to leverage the Right of First Refusal to scuttle deals.  The industry hit the mid-point…

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