The Impact of the CDK Hack Will Take Years to Play Out

The Impact of the CDK Hack Will Take Years to Play Out

June 27, 2024 — Late Thursday afternoon, CDK Global began rebooting the systems for a test group of dealers, following a two-pronged cyber attack more than a week ago. (UPDATED July 11 — According to a CNN report, CDK likely paid a ransom of $25 million to the hackers on June 21 — in numerous… Continue Reading

Asbury in Talks to Acquire Jim Koons – An Analysis

Asbury in Talks to Acquire Jim Koons – An Analysis

September 7, 2023 — This week, the Asbury Automotive Group filed an 8-K with the SEC, alerting the market it is talking to the Jim Koons Automotive Companies about purchasing its 21 dealerships.  (UPDATE: Asbury announced it is acquiring Koons — Read more Here.) The filing most likely was precipitated by the news leaking out… Continue Reading

Lithia Motors Strong 2nd Qtr; Armed for Aggressive Acquisition Strategy

Lithia Motors Strong 2nd Qtr; Armed for Aggressive Acquisition Strategy

Updated: 5-yr growth plan and new online brand unveiled. July 22, 2020 — Lithia Motors’ share price is at its all-time high trading above $195 in early trading this morning — which is up from $62.98 on March 18. The Oregon-based dealer group reported its highest ever second-quarter net income this morning generating $3.72 per… Continue Reading

Dealership Buy-Sell June Recovery Points to Sizzling 2nd Half

Dealership Buy-Sell June Recovery Points to Sizzling 2nd Half

July 9, 2020 — After a short COVID-19-induced respite in April and May, the dealership buy-sell market is back in business in a big way finishing the first half on par with 2019 activity. All signs are pointing to a sizzling third quarter continuing a pace set in June that saw 22 transactions involving 31…

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Buy-Sell Activity to Plummet

Buy-Sell Activity to Plummet

March 19, 2020 — Earlier this week, the Asbury Automotive Group (ABG) filed an 8-K document with the SEC informing investors it “intends to continue to evaluate alternatives,” regarding its pending acquisition of 10 dealerships from the Park Place group in Texas. The announcement is not a surprise given what the entire country — and…

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