Cliff Banks - The Banks Report

TBR Daily Update — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar?

February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…

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Cliff Banks - The Banks Report

Activist Investors Target Automotive — Is that Good News?

February 15, 2015 — Activist investors suddenly have taken a keen interest in automotive-related companies. Is that good news for the targeted firms? It depends on who you ask. CDK Global, Autobytel, and now, General Motors, are the recent targets of activist investors. It’s a relatively new phenomenon in automotive retail. Automotive manufacturing suppliers have… Continue Reading

Cliff Banks - The Banks Report

Hyundai and Subaru in Lawsuits Against Dealers

February 13, 2015 — In a lawsuit you don’t see every day, Hyundai is suing a Chevrolet store for importing parts and selling them to its dealers in the U.S. Meanwhile, Subaru filed a lawsuit against one of its California dealers for falsifying customer service surveys. Wonder how long before that store is on the…

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Cliff Banks - The Banks Report

Does Wilson Have Other Plans for GM?

February 12, 2014 — Right now, it’s a simple share buyback plan that would be-activist investor Harry Wilson is trying to foist upon General Motors. But does the former architect of President Obama’s automotive bailout plan have other plans in mind also? If so, it could be bad news for General Motors dealers. This week, Harry…

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Cliff Banks - The Banks Report

TBR Daily Update — February 4

February 4, 2015 — Felix Sabates Closes Bentley Store; Number of Stores & Average Sales Up in 2014; Mike Sullivan, Barry Switzer Acquire Primeaux Kia in Tulsa Felix Sabates Closes Bentley Store Felix Sabates, has closed the Bentley dealership in Charlotte that he opened in November 2013. Sabates is a partner in several stores with Terry Taylor and…

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Congratulations to Andy Crews — Time Magazine’s 2015 Dealer of the Year

Congratulations to Andy Crews — Time Magazine’s 2015 Dealer of the Year

January 26, 2015 — It’s no secret that the automotive retail industry gets pummeled in the press. Dealers often are journalists’ favorite punching bags. It’s one of the reasons I appreciate and like the Time Magazine’s Dealer of the Year award, which is handed out each year at the National Automobile Dealers Association Convention. The program, sponsored… Continue Reading

Cliff Banks - The Banks Report

TBR Daily Update — January 29, 2015

January 29, 2015 — Group 1 & Prestige Reach Settlement; FCA’s Impressive 2014; W.P. Carey expands into U.K. with $350 Million Deal; Jim Ellis Sells VW Store/ Group 1 Automotive and Prestige Imports Reach Settlement Group 1 Automotive’s pending acquisition of the nation’s top selling Audi dealership took a step closer to completion yesterday following…

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Cliff Banks - The Banks Report

TBR Daily Update — January 28

January 28, 2015 — Fort Walton Beach Stores Sold for $80 Million; Penske Buys Land Rover Dealership; Texans Find Ohio to be Tough; Oregon Dealer Dies; It’s Huge — and Not in a Good Way; Mac Haik Acquires Nissan Store Fort Walton Beach Stores Sold for $80 Million In a deal we reported on two weeks ago, Texas-based…

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