Cliff Banks - The Banks Report

2015 NADA Report Section 3: Vendor Analysis

This is Section Three of our post 2015 NADA Report. In this section, Cars.com, DealerSocket, Solera Holdings and ELead1One are covered. The entire report, which we will be published in different sections is now over 10,000 words. We decided to break the report into different sections to make it more readable after talking with several subscribers. Section… Continue Reading

GM’s Shop-Click-Drive: Do the Math

GM’s Shop-Click-Drive: Do the Math

UPDATED — March 23, 2015: A recent article in the Wall Street Journal about General Motors’ Shop-Click-Drive initiative shows just how far the automotive industry has to go before consumers have the ability to complete the entire car buying transaction online. (Updates are in italics.) GM created Shop-Click-Drive (www.ShopClickDrive.com) to make it easier for their… Continue Reading

Cliff Banks - The Banks Report

2015 NADA Report: Section 2 – Vendor Analysis

This is Section Two of our post 2015 NADA Report. In this section, we evaluate the leading vendors — primarily those in the technology space. Companies covered in this section include CDK Global; DealerTrack Technologies; Cox Automotive; Reynolds and Reynolds; Dominion Dealer Solutions. Section Three will cover Cars.com; DealerSocket; Solera Holdings and ELeadOne. Section Four… Continue Reading

Cliff Banks - The Banks Report

Berkshire Hathaway Automotive Makes its First Purchase

The newly minted Berkshire Hathaway Automotive wasted little time making its first acquisition buying Frank Kent Honda in Fort Worth, TX last week. The dealership was owned by Corrie Watson and her brother Will Churchill who decided to sell following the unexpected death of Watson’s husband, Tim. Churchill and Watson are great grandchildren of Frank Kent… Continue Reading

Cliff Banks - The Banks Report

2015 NADA Report – Section 1: Vendor Acquisition Activity

Vendor acquisition activity in the automotive retail space this year will not come close to the mind-blowing $30 billion in equity that changed hands in 2014. So far, through the first week of March, there have been four deals announced ranging from $5 million to more than $190 million.  This is Section One of our post…

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Wilson and GM Cut a Deal

Wilson and GM Cut a Deal

March 8, 2015 —  The Wall Street Journal is reporting that General Motors will lay out Monday its plans to return billions to shareholders in a more aggressive timetable than originally planned. The move is part of an agreement with activist investor Harry Wilson who has agreed to not pursue a board seat. The amount GM intends to… Continue Reading

Cliff Banks - The Banks Report

TBR Daily Update — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar?

February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…

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