Not the First Choice, but Miller is the Right Choice for AutoNation

Not the First Choice, but Miller is the Right Choice for AutoNation

July 23, 2019 — Late yesterday afternoon, AutoNation announced long-time CFO and vice president Cheryl Miller as its new CEO and president. She’s replacing Carl Liebert. On the surface, the change was a shock. Liebert had only assumed the top job at the nation’s top-selling dealer group in March after a months-long search that reportedly…

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Cliff Banks - The Banks Report

Chip Perry Retires as CEO of TrueCar

June 3, 2019 — After three and half years at the helm of TrueCar, Chip Perry is stepping down as CEO and president, the company announced today. TrueCar has not named a replacement for Perry, who will continue to consult with the company. Perry, one of the pioneers in the automotive Internet space, founded AutoTrader… Continue Reading

Cliff Banks - The Banks Report

Thoma Bravo to Acquire 2nd Automotive Technology Company

May 1, 2019 — Yesterday’s announcement that PE firm Thoma Bravo is acquiring Autodata Solutions from Internet Brands could be Act Two in what may be an ambitious play in automotive. The pending transaction also portends an M&A market that is heating up after a slow first quarter that saw only 11 deals completed, down…

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Cliff Banks - The Banks Report

Tesla Again Revamps Its Retail Strategy

March 11, 2019 — Tesla’s strategy of closing its retail network apparently is a work in progress. After shutting down 10% of its retail locations the last couple of weeks, Tesla announced on its blog last night that it has stopped the process and will evaluate another 20% of its sales locations in coming months.… Continue Reading

Cars.com Sale Likely Close, Here’s a Rundown of Possible Buyers

Cars.com Sale Likely Close, Here’s a Rundown of Possible Buyers

March 10, 2019 — An announcement regarding who Cars.com’s new owner will be could be made as early as this week. The company is an attractive play for numerous players — both from a strategic and an investment perspective. Cars announced in January the board had voted at the end of September to retain J.P.…

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