Tough Times Ahead for Fiat Chrysler Dealers

Tough Times Ahead for Fiat Chrysler Dealers

June 11, 2015 — Since October of 2014, when asked which automotive brands I like during the Q&A sessions following presentations I’ve given, my advice has been to “Sell your Chrysler store today.” Often the response is incredulous — “Sales are through the roof, and we’re making money, why would we sell?” is the question.…

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Cliff Banks - The Banks Report

Vendor Acquisitions on a Hot Pace

June 7, 2015 — There have been 13 automotive retail vendor acquisitions through the first week of June far outpacing 2014’s total of 19 transactions. The difference this year is that the transactions are much smaller. While last year’s acquisitions, mergers and IPOs involved more than $30 billion in equity in changing hands, according to…

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Cliff Banks - The Banks Report

Monster May for Dealership Buy-Sells

June 7, 2015 — May was a monster month for dealership acquisitions setting a monthly record for number of transactions since January 2013. Notable deals included Group 1 Automotive, Lithia Motors, Bill Jacobs, Tom Durant and Euro Motor Cars, Victory Automotive and AutoNation. At least 33 transactions accounted for 41 dealerships changing owners in May, according to…

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Cliff Banks - The Banks Report

FCA Australia Scandal Reaches U.S.

  June 6, 2015 — An erupting scandal involving former Fiat Chrysler  and Mercedes Benz executives in Australia snags website provider MotorTrak and potentially threatens its business globally while raising questions about its deal to provide websites to Mercedes Benz retailers in the U.S.  For the last week, media outlets in Australia and New Zealand have been… Continue Reading

Cliff Banks - The Banks Report

J.D. Power to Acquire NADA Used Car Guides

May 28, 2015 — The acquisitions in the automotive retail space keep coming. The latest is J.D. Power and Associates’ acquisition of NADA Used Car Guides, announced minutes ago. It’s a move that will shake up the used vehicle pricing guides space, which includes Hearst Corporation’s Black Book and Kelley Blue Book, which is owned by…

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Cliff Banks - The Banks Report

TrueCar’s Lawsuits – Just Noise or Something More?

May 27, 2015 — UPDATED: First it was non-dealer customers, then it was its dealer customers in California suing TrueCar — now its investors have filed a lawsuit against the online vehicle shopping site. Is it just noise or do the lawsuits indicate a deeper problem for TrueCar?   Following last week’s announcement that the California New Car…

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Analysis of Autobytel’s Acquisition of Dealix

Analysis of Autobytel’s Acquisition of Dealix

May 22, 2015 — Yesterday, Autobytel announced the acquisition of competitor Dealix for $25 million from CDK Global, confirming a prediction The Banks Report made in February. We have the inside story and a full analysis of the deal and what it means for the industry and Autobytel’s future. Meanwhile, numbers show the leads business may…

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Cliff Banks - The Banks Report

New Country Makes Big Acquisition

May 17, 2015 — New Country Motor Cars Inc. recently added six top-line franchises to bring its total number of locations to 30. It’s only the seventh transaction since January 2013 that included six or more dealerships and is the second biggest acquisition of the year.  Michael Cantanucci’s New Country Automotive Group in Hartford, CT is turning into…

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Cliff Banks - The Banks Report

Public Group Buy-Sell Activity Slow in 2015

May 8, 2015 — The public dealer groups are off to a slow start in 2015 on the acquisition front. Asbury Automotive Group announced its first purchase of the year last night, acquiring Capitol City Nissan in the Atlanta area. The transaction is only the ninth this year completed by the six public groups according to data…

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