October 11, 2018 — Automotive online transaction platform Shift Technologies is beginning to see the early benefits of the recent $54 million investment from Lithia Motors, one of the country’s largest dealership groups. Shift announced this morning that through its relationship with Lithia, it has secured a floor plan credit line four times larger than… Continue Reading
October 11. 2018 — While Lyft executives continue to predict the end of private ownership, the rideshare company is expanding its business into dealerships. It’s latest foray is with RedCap Technologies, which today announced the launch of a new courtesy shuttle solution leveraging Lyft’s Concierge API platform. RedCap, which was acquired by Solera Holdings earlier… Continue Reading
October 2, 2018 — The Reynolds and Reynolds Company and several dealers part of a class action lawsuit filed against the technology vendor agreed in principle last week to settle, according to a court document filed late Friday. There is no word on what the terms of the pending settlement are. A similar agreement with…
September 20, 2018 — Amazon launched its Amazon Vehicles page two years ago, setting off a flurry of industry predictions the tech giant was preparing to upend and take over the automotive retail space. Not so fast. Amazon is preparing a huge automotive push, but it will not be in the sales and distribution arena.… Continue Reading
September 19, 2018 — After nearly 20 years at the helm of the nation’s largest dealer group, the AutoNation Mike Jackson joined in October 1999 strategically is not much different than the one he will step away from in the next few months. Jackson, 69 years old, announced earlier this morning he will step aside… Continue Reading
August 13, 2018 — Cox Automotive is announcing early Monday morning it has acquired vehicle subscription startup Clutch Technologies as part of the creation of its new Mobility Solutions Division. The moves are part of a restructuring that includes an ongoing intensive review of where its 34 brands and investments fit in its overall strategy…
August 12, 2018 — Sources have confirmed CDK Global will announce Monday morning it is partnering with ride hailing company Lyft to provide a transportation solution for dealership service departments to integrate into their loaner fleet programs. Lyft Business’ Concierge dispatch solution — already being used by approximately 300 dealerships — will be integrated into… Continue Reading
July 15, 2018 — CDK Global will announce Monday morning it is acquiring the auto retail industry’s leading customer relationship management firm ELead1One, according to several sources familiar with the deal. The acquisition checks off several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.… Continue Reading
July 3, 2018 — The Banks Report has compiled a list of 32 different companies providing aspects of the digital retailing/online transaction process in the automotive industry. The list has grown since our initial report in January on digital retailing. In addition, TBR is putting together an analysis of what’s actually working on the online… Continue Reading
July 3, 2018 — Reynolds and Reynolds and CDK Global counter-sued Authenticom last week alleging the Wisconsin-based firm participated in cyber piracy, trade secret theft and fraud. The counter-suits are the latest in an ongoing legal battle in which as many as four vendors and 25 dealers have accused Reynolds and CDK of antitrust violations.…