Uber and Fair Enter Into Strategic Partnership

Uber and Fair Enter Into Strategic Partnership

January 30, 2018 — Fair announced this morning a strategic partnership with Uber along with the acquisition of the lease portfolio of the ride-hailing firm’s XChange Leasing program. As part of the agreement, Fair will become Uber’s exclusive U.S.leasing partner for drivers leasing vehicles for a month or longer. Financial terms of the acquisition were… Continue Reading

Review of Online Vehicle Transaction Models

Review of Online Vehicle Transaction Models

January 25, 2018 — The Banks Report research has found 21 companies that offer some type of online vehicle transaction solution. In the last four years, companies offering such solutions have exploded onto the scene attracting more than $1 billion in investment money — more than $200 million since July (Not including Fair’s $1 billion… Continue Reading

Review of Flexible Vehicle Ownership Models

Review of Flexible Vehicle Ownership Models

January 24, 2018 — Over the last several months, numerous automakers and dealers have launched flexible ownership models creating a new means of interacting with customers beyond the typical loan or lease. The question is whether flexible ownership and vehicle subscriptions will move beyond being a novel and cool idea to becoming an accepted method of…

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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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