Cliff Banks - The Banks Report

TBR 2015 Auto Retail Vendor Acquisition Report

January 14, 2016 — Vendor acquisition activity in 2015 was brisk with 30 transactions getting across the finish line. But even though the number of acquisitions doubled what the industry saw in 2014, the total dollar figure was significantly less in 2015. More than $30 billion in equity changed hands in 2014 as several deals…

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Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

January 14, 2016 — (UPDATED JAN. 15, 2016 7:10 AM — FCA’s Response Below) Hang on to your seats — the latest automotive scandal is beginning to erupt, and this one is going to rock the automotive industry. The news broke yesterday that the Napleton Automotive Group filed a lawsuit in a federal court in Illinois… Continue Reading

Two Luxury Dealership Buy-Sells Close Out 2015

Two Luxury Dealership Buy-Sells Close Out 2015

January 11, 2016 — Acquisitions of an Audi dealership in Austin, TX and a Mercedes Benz store in Freehold, NJ closed out 2015 in what was a record year for dealership buy-sells. Approximately 470 dealerships changed hands according to data compiled by The Banks Report which will be published in the TBR 2015 Dealership Buy-Sell Report…

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Brutal Morning for Dealer Group Shares

Brutal Morning for Dealer Group Shares

January 6, 2015 — Better check your portfolios if you are holding shares in any of the publicly traded dealer groups. stock prices have plunged for each of the seven automotive dealer groups following Monday’s overall market selloff (due to concerns about China),  yesterday’s report of softer than expected December sales along with remarks made…

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Volkswagen Lawsuit Fines Far More Than $18 Billion

Volkswagen Lawsuit Fines Far More Than $18 Billion

January 5, 2016 — Judging from the lawsuit filed by the Department of Justice on behalf of the Environmental Protection Agency against Volkswagen, Porsche and Audi yesterday, it could be several months before the German automaker begins digging out from the mess its cheating on emissions standards created. The lawsuit could be particularly bad for dealers…

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Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday envisions a future where vehicles are autonomous and personal ownership becomes a relic of a bygone era. It’s coming out party is tonight at the Consumer Electronics Show — we’ll see if it brings anything new to the conversation. January 4, 2016 — Over the next few days, headlines will trumpet announcements from the…

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Hot December for Dealership Buy-Sells

Hot December for Dealership Buy-Sells

December 17, 2015 — It was an intense first two weeks in the dealership buy-sell world as transactions involving 38 stores were either closed or announced through December 15. December is shaping up to be a huge month which could put the industry near 500 rooftops exchanging hands in 2015. It’s the biggest two week stretch since The Banks Report…

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