Don’t Like GM’s Plant Closures? Blame the Threat of Activist Investors

Don’t Like GM’s Plant Closures? Blame the Threat of Activist Investors

February 6, 2019 — This week, General Motors began the difficult task of laying off more than 4,000 salaried employees as part of a massive restructuring this year that includes the idling of five North American plants, eliminating vehicles and an overall workforce reduction of 14,700 employees. The moves are designed to save the automaker… Continue Reading

Flurry of M&A Deals in Auto Retail Tech Kicks Off 2019

Flurry of M&A Deals in Auto Retail Tech Kicks Off 2019

January 21, 2019 — A flurry of several mergers and acquisitions last week among auto retail vendors started 2019 off with a bang. Through the first two weeks of the year, six deals have been announced. The fast start follows a record-breaking 2018 in which 77 deals were completed. Additionally, Cars.com announced last week its board retained…

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Auto Retail’s Industry’s Next Disruptor?

Auto Retail’s Industry’s Next Disruptor?

January 13, 2019 — Two somewhat obscure press releases last week hint at what may be the next “disruption” in the auto retail industry. Disruption is an easy term to throw around, but in automotive retail, three areas are ripe for significant innovation — CRM, service and dealer management systems. The Banks Report isn’t in…

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Cliff Banks - The Banks Report

Launch of Pivet Solution Indicates Bigger Mobility Play by Cox

January 13, 2019 — As part of its transformation into becoming a leading player in automotive mobility, Cox Automotive’s Mobility Group launched its new Pivet brand Sunday at a media event in Detroit prior to today’s opening of the North American International Auto Show. Pivet aims to build a network of service and maintenance hubs…

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Fair to Go Global with SoftBank Investment

December 20, 2018 — Fueled by a $385 million Series B investment led by SoftBank, vehicle subscription platform Fair is going global. After officially launching in August 2017, Fair is now in 26 U.S. markets with nearly 52,000 vehicles from 3,200 dealerships available on its mobile app. More than 20,000 consumers have used the platform… Continue Reading

Vendor M&A at Record Levels

Vendor M&A at Record Levels

November 13, 2018 —  A flurry of 26 deals since the beginning of September has pushed the year’s total to 64, a record for investments and acquisitions in the automotive retail vendor space. The blistering pace continued into the first week of November with data analytics firm Marchex’s purchase of Telmetrics and Infomedia’s acquisition of…

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Amazon’s Automotive Play

For Autovate 2018 Attendees September 20, 2018 — Two years ago, Amazon launched its Amazon Vehicles page setting off a flurry of industry predictions the tech giant was preparing to upend and take over the automotive retail space. Not so fast. Amazon is preparing a huge push into automotive, but it’s not going to be… Continue Reading