Cox’s Latest Acquisition — And Another Investment

Cox’s Latest Acquisition — And Another Investment

November 23, 2014 — Cox Automotive  continues to be active in the acquisition space buying the assets of small used car data firm last week, following its $325 million purchase of Xtime two weeks ago. It.has spent approximately $3 billion on both U.S. and international (China and Brazil) acquisitions since 2010. Meanwhile, the Atlanta-based firm…

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AutoNation Moves Car Buying into the Future

AutoNation Moves Car Buying into the Future

November 13, 2014 — Next month, AutoNation will take a big step in making true online transactions in the car buying process a reality when it begins the roll out of its SmartChoice Express initiative. It’s one of its biggest initiatives to date and could move the automotive retail space into the next phase of car…

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Cliff Banks - The Banks Report

Cox Automotive Acquires Xtime

It continues to be a sizzling year for acquisitions in the automotive retail space. The Banks Report has learned the latest company to be acquired is Xtime, a firm that provides technology solutions to dealership service departments. Cox Automotive is announcing this afternoon that it has acquired the Redwood City, CA-based firm for $325 million…

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Monster October for Dealership Buy-Sells

Monster October for Dealership Buy-Sells

The automotive retail space is within striking distance of 300 dealership acquisitions for all of 2014 following a monster October that saw 49 rooftops change hands. Meanwhile, prices for deals start to climb in wake of Buffett’s announcement. Fueled by Lithia Motors’ acquisition of the DCH Automotive Group, the 49 rooftops that changed owners in…

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Autobytel Posts Strong 3rd Quarter

Autobytel Posts Strong 3rd Quarter

November 7, 2014 — Autobytel’s shares jumped 7.59% yesterday closing at $10.06 following a strong third quarter in which the Internet pioneer in automotive retail posted revenue increase of more than 26% from 2013 to $27.4 million — its highest quarterly revenue since 2007. Revenue for the first three quarters was $80.2 million, up 39% from…

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Contact at Once Acquired

Contact at Once Acquired

November 5, 2014 — UPDATED WITH NEW REVENUE INFORMATION — Dealership website chat service firm Contact at Once! has been acquired by LivePerson Inc. (NASDAQ: LPSN) for approximately $65 million. Contact at Once! provides text and chat services for dealership websites in the automotive retail space. It acquired the chat solution of OutSell earlier this year.… 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…

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Dealership of the Future Already Here

Dealership of the Future Already Here

November 1, 2014 — A dealership in Great Britain is going to try to sell cars without any salespeople. You read that right — no sales people. The dealership provides iPads located throughout the store for customers to use to complete the entire transaction online, including the financing. The dealership does have “product angels” available… Continue Reading