March 25, 2019 — Although sources confirmed to us two weeks ago an acquisition of Cars.com was close, we’re still waiting. But signs are a deal should be announced in the next several days. According to a press release this morning, the process is ongoing and involves “multiple parties.” The biggest indication, though, is that… Continue Reading
Tesla Again Revamps Its Retail Strategy
March 11, 2019 — Tesla’s strategy of closing its retail network apparently is a work in progress. After shutting down 10% of its retail locations the last couple of weeks, Tesla announced on its blog last night that it has stopped the process and will evaluate another 20% of its sales locations in coming months.… Continue Reading
Prime Motor Group Acquires Northeast Dealer Group
February 20, 2019 — The Prime Automotive Group added six dealerships last week when it acquired the Marubeni America Corporation’s Auto Gallery in Norwood, MA. The fast-growing Prime, backed by GPB Capital, now has 68 dealerships with revenues approaching $3.5 billion. The transaction is the third large dealership buy-sell of the year and continues the… Continue Reading
Three Acquisitions in 10 Months for Digital Air Strike
January 17, 2019 — Digital Air Strike will announce two acquisitions this week bringing its total to three in the last 10 months. The company is acquiring Target Media Partners Interactive (TMPi), a lead generation ad tech firm, and Libra Systems, a financing, and leasing software company. With the two additions, Digital Air Strike now… Continue Reading
Fair to Go Global with SoftBank Investment
December 20, 2018 — Fueled by a $385 million Series B investment led by SoftBank, vehicle subscription platform Fair is going global. After officially launching in August 2017, Fair is now in 26 U.S. markets with nearly 52,000 vehicles from 3,200 dealerships available on its mobile app. More than 20,000 consumers have used the platform… Continue Reading
CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails
October 23, 2018 — Reynolds and Reynolds and CDK Global and their joint venture Computer Vehicle Registration (CVR) failed in their fourth attempt to dismiss the lawsuits alleging they engaged in several antitrust activities. Late Monday, Judge Robert Dowd in Illinois’ Northern District denied the defendant’s motions to dismiss the lawsuits filed by Motor Vehicle… Continue Reading
Shift Secures Floor Plan Credit Leveraging Lithia Investment
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
Lyft’s RideShare Services Integrated into RedCap’s Transportation Platform
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
AutoNation’s Mike Jackson to Take on New Role in 2019
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
Cox Automotive Acquires Clutch Technologies; Creates Mobility Solutions Division
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…
