Potential Buyers Identified as CDK Sales Process Enters Second Round

Potential Buyers Identified as CDK Sales Process Enters Second Round

January 15, 2018 — For the second time in the last week, CDK Global shares have spiked to record highs due to rumors of a potential sale. Fueling the most recent spike was chatter last week (later confirmed to TBR by sources familiar with the process) that at least three groups are submitting second round…

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AutoNation’s Mike Jackson Named Chairman of Atlanta Federal Reserve Board

AutoNation’s Mike Jackson Named Chairman of Atlanta Federal Reserve Board

January 10, 2018 — AutoNation Chairman and CEO Mike Jackson has been appointed to serve as chairman of Atlanta’s Federal Reserve board for a one-year term that started January 1. Jackson, who previously was deputy chairman, will head Atlanta’s nine-member board that is responsible for the district encompassing Florida, Alabama, Georgia and areas of Mississippi, Tennessee… Continue Reading

Cliff Banks - The Banks Report

Spireon Shows Vehicle Subscription Concept

January 10, 2018 — Spireon Inc. is demonstrating a vehicle subscription concept it is dubbing Drive On Demand at the International Consumers Electronics Show in Las Vegas this week. Calling it a Mobility as a Service (MaaS) technology, the company says the new solution will allow new car dealers to select specific vehicles in their… Continue Reading

Asbury Acquisition Highlights Growing Trend of Move into Midwest

Asbury Acquisition Highlights Growing Trend of Move into Midwest

January 9, 2018 — The Asbury Automotive Group acquired Terry Lee Honda in Avon, IN this week and renamed it Hare Honda. The acquisition follows Asbury’s purchase of Hare Chevrolet in Noblesville, IN in 2017. The two acquisitions indicate Asbury, the country’s seventh largest dealer group with more than $6.5 billion in annual revenue and… Continue Reading

LiDAR Technology and Automotive Retail

LiDAR Technology and Automotive Retail

January 8, 2018 — As 2017 came to a close, two seemingly innocuous announcements hint at the pending impact LiDAR technology may have on automotive retail in the near future. First was AutoNation’s agreement with Waymo to provide maintenance and repair services to its fleet of self driving vehcles. And second was  an under-the-radar press release…

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Antitrust Lawsuits Potentially Headed for Multi District Litigation

Antitrust Lawsuits Potentially Headed for Multi District Litigation

January 8, 2018 — Eight of the 10 antitrust-related lawsuits filed against Reynolds and Reynolds and/or CDK Global in 2017 may be headed to multi-district litigation (MDL) this year. The cases include five dealer class action lawsuits that were filed the final two months of 2017 and three of the five third-party vendor lawsuits that…

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Cox Automotive Files Lawsuit Against CDK Global

Cox Automotive Files Lawsuit Against CDK Global

December 11, 2017 — This afternoon, Cox Automotive and several of its subsidiaries filed a $200 million lawsuit against CDK Global alleging ongoing antitrust and unlawful competition. The suit is the latest in a series of legal actions taken against CDK and Reynolds and Reynolds since February this year by competitors and dealers complaining about… Continue Reading

Cliff Banks - The Banks Report

The Banks Report’s AUTOVATE 2017 Features Early Stage Startups Designed for the Next Generation of Automotive Retail

DETROIT, Nov. 20, 2017 /PRNewswire/ — AUTOVATE 2017, created by The Banks Report and hosted by CarStory, will feature seven early stage startup companies during its debut event Dec. 7-8, in Austin, TX.  The Startup Showcase will allow attendees to learn more about these breakthrough technologies through presentations and panel discussions with industry experts.  “We created AUTOVATE to bring together the influencers and… Continue Reading

The Banks Report Introduces AUTOVATE 2017

The Banks Report Introduces AUTOVATE 2017

DETROIT, Nov. 14, 2017 /PRNewswire/ — Debuting Dec. 7-8 in Austin, TX, is AUTOVATE 2017, a unique event for dealer executives, investors, entrepreneurs and auto manufacturers. Created by The Banks Report and hosted by CarStory, AUTOVATE will focus on advanced technology solutions driving the automotive retail industry forward, including the innovators behind the solutions, decision-making dealer executives, and investors funding growth in the industry. “AUTOVATE is a… Continue Reading