Cliff Banks - The Banks Report

Dealerships Are Key in Cyber Attack Wars

December 27, 2014 — Much of the auto industry’s discussion regarding cyber warfare focuses on the inherent vulnerabilities of the connected vehicle. But one area that receives little scrutiny is the retail side of the automotive industry. This will soon change as dealerships likely will become one of the central battlefields in the cyber wars that will be… Continue Reading

3rd Quarter Dealership Buy-Sell Update

3rd Quarter Dealership Buy-Sell Update

November 3, 2014 –The dealership buy-sell market remains hot through for the year with 200 acquisitions through the third quarter. While Warren Buffett’s announcement brought a renewed sense of energy to the market, it ultimately may dampen potential acquisitions for the next couple of quarters as buyers are content to wait out what is proving to…

This content is for subscribers only.
Log In Subscribe
The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

OVERVIEW Through the first six months of 2014, 125 dealerships changed ownership, up from 89 through the same period in 2013 according to data compiled by The Banks Report. Eighty-three different buyers accounted for the 125 acquisitions. Note: The 125 does not include the 27 stores Lithia Motors will gain when it closes on its…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Dealership Buy/Sell Update January – May 2014

There have been 89 dealership acquisitions through the first five months of 2014 – up from 71 through the same period in 2013, according to data compiled by The Banks Report. Even though the number was up through May, the pace for the year was relatively flat – although, still brisk. Last year, there were 202…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

The Problems with CFPB’s Approach Toward Dealers

By David Ruggles with Cliff Banks The Consumer Financial Protection Bureau, created as a part of the sweeping Dodd – Frank Act, recently entered into a “consent agreement” with ALLY Bank. The penalty and restitution levied amounts to $98 million, plus ongoing costs mandated by the CFPB to ensure continued compliance with the “agreement.” According…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

2013 Dealership Acquisition Report

YEAR IN REVIEW The pace of automotive dealership buy/sell activity was moderately brisk in 2013, with 180 dealerships accounting for 260 franchises changing owners in the U.S. January started with a bang when Group 1 Automotive announced the acquisition of one of Brazil’s largest retailers, UAB Motors Participacoes S.A., for $47.4 million cash, 1.45 million…

This content is for subscribers only.
Log In Subscribe