September 5, 2022 – General Motors’ strategy to buy out Buick dealers not wanting to transition to an all-electric future is good news for the brand and its dealers. The automaker introduced its plans to Buick dealers on Friday (kudos to Mike Colias of the Wall Street Journal for breaking the news). The move follows Buick’s announcement… Continue Reading
August 23, 2022 — President Biden signed the Inflation Reduction Act into law a week ago. The new law enacts several changes to the tax credit available for new electric vehicles. As we noted prior to the law’s signing, many of the changes are confusing and needed clarification from the government. In the last week,… Continue Reading
August 10, 2022 — The Inflation Reduction Bill is not yet law, but it may be as soon as this weekend. The impact on dealers will be immediate. Members of the House of Representatives are slated to return to the chamber on Friday to vote on the version the Senate passed 51-50 on Sunday. The… Continue Reading
August 10, 2022 — The Inflation Reduction Act is not yet law, but it may be as soon as this weekend. The impact on dealers will be immediate. Members of the House of Representatives are slated to return to the chamber on Friday to vote on the version the Senate passed 51-50 on Sunday. The…
August 2, 2022 — Canada’s TD Bank Group (Toronto Dominion) confirmed this morning the month-long speculation that it will acquire U.S.-based investment bank Cowen Inc. The deal, which is expected to close in the first quarter of 2023, is for $39 a share — a 62% premium more than what it was trading for in… Continue Reading
July 25, 2022 — AutoWeb, formerly known as Autobytel, announced this morning that a subsidiary of One Planet Group is acquiring it for $0.39 a share. The transaction, valued at nearly $5.5 million, is expected to close in September this year. Payam Zamani, founder and CEO of One Planet, will replace Jared Rowe as CEO… Continue Reading
July 12, 2022 — After a three and half year hiatus, Brian MacDonald is returning to CDK Global in his former role as CEO. He replaces Brian Krzanich who replaced him in November 2018. CDK is expected to make the announcement this morning. The move follows last week’s $8.7 billion sale to investment firm Brookfield… Continue Reading
April 17, 2022 — A direct-to-consumer sales model appears to be a non-starter for Toyota as sales chief Bob Carter calls it “a disaster waiting to happen.” Carter provided his perspective on a wide range of topics during an on-stage interview with Jason Stein, president of Motormindz, at the NADA/J.D. Power Automotive Forum in New… Continue Reading
February 8, 2022 — Cars.com announced this morning it is acquiring the assets of Accu-Trade, Galves Market Data, and MADE Logistics from founder Robert Hollenshead. Terms of the transaction, which should close within the next month, include an initial cash payment of $65 million with another expected $63 million earnout payment based on certain financial… Continue Reading
October 27, 2021 — As the auto industry continues to manage an ongoing chip shortage, a looming magnesium and silicon shortage is threatening to erode vehicle production even further. Magnesium and silicon are key ingredients in the production of aluminum alloy, which is used in numerous vehicle parts. Silicon also is a main component in…