Cadillac’s Project Pinnacle Becomes Reality — Virtually

Cadillac’s Project Pinnacle Becomes Reality — Virtually

June 16, 2016 — Dominating headlines over the last 10 days was Cadillac’s pending move to “encourage” approximately 400 of it smaller franchises to become virtual stores. It’s a story that demands attention — Cadillac moving to virtual reality dealerships. But the reality (not virtual) is, the move likely will have little effect except to ultimately force…

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Cliff Banks - The Banks Report

NY Court Rules GM’s Sales Formula Not Legal

May 10, 2016 –In an intriguing decision last week, the New York’s Court of Appeals determined in a 5 – 1 decision that General Motors’ use of its Retail Sales Index to evaluate its dealers’ sales performance violates state law. The ruling could force manufacturers to change how they measure their dealers’ retail performance. GM used the RSI In 2011 in… Continue Reading

What We Learned From Holman’s Acquisition of Kuni

What We Learned From Holman’s Acquisition of Kuni

Last week’s announcement that Holman Automotive is acquiring the Kuni Automotive Group is significant on numerous levels. The Banks Report, which broke the news of the deal, estimates that it is the biggest dealer acquisition since Warren Buffett’s purchase of the Van Tuyl Automotive Group in March of 2015. So what does the deal mean for…

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Cliff Banks - The Banks Report

Napleton Files 3rd Lawsuit — This One Against Volkswagen

April 10, 2016 — On Wednesday, Ed Napleton, owner of one of the largest dealer groups in the country, filed a lawsuit against Volkswagen alleging the automaker engaged in criminal racketeering. Napleton owns three Volkswagen dealerships acquiring the Urbana, IL store three days before the diesel emissions scandal exploded in September. Napleton also claims the manufacturer… Continue Reading

The Modern Showroom — Thoughts from NADA

The Modern Showroom — Thoughts from NADA

Most dealerships today are configured to yesterday’s processes and experiences. The environment hasn’t kept up with the digital age.  While most dealerships have effective websites and Internet processes, their store images often don’t reflect the new realities of today’s society – touch screen mobile devices; interactive and personalized digital signage and virtual reality (VR) applications. But… Continue Reading

Fiat Revamps Floundering Retail Strategy

Fiat Revamps Floundering Retail Strategy

March 10, 2016 — It’s back to the drawing board for Sergio Marchionne’s grand strategy for Fiat’s return to the U.S. Five years after the Italian brand began its comeback in the U.S., Marchionne’s retail strategy is floundering. Sales are down 15% through February this year, even with the recent launch of the much-awaited 500X, whose…

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Tesla Wins Reprieve in Indiana

Tesla Wins Reprieve in Indiana

February 26, 2016 — Tesla has won its latest battle fighting state franchise law designed to keep it from selling vehicles to consumers. at least for a few months. The Indiana Senate Commerce and Technology Committee decided yesterday to send a controversial bill banning manufacturer-direct automotive sales to customers to an interim study committee later this year. House… Continue Reading