January 13, 2016 — Volkswagen quickly is becoming a textbook example of how not to manage a PR crisis. This week — during the North American International Auto Show in Detroit, arguably the industry’s biggest stage — the bad news just keeps coming at the German automaker. What’s troubling is that Volkswagen is showing no ability to… Continue Reading
January 16, 2016 — For the auto analysts and executives who are projecting 18 million or more in vehicle sales in 2016, take heed. The yellow flags are out, says Mike Jackson, chairman and CEO of AutoNation, the nation’s top dealer group. He followed up on his strong warning last week on CNBC telling attendees… Continue Reading
January 11, 2016 — The CES hype fest from Las Vegas last week is over. Just scanning the headlines, one would think none of will be owning or driving vehicles in the next couple of years. The reality, however, is that the cars are still the stars and will likely drive record attendance this year… Continue Reading
January 11, 2016 — Acquisitions of an Audi dealership in Austin, TX and a Mercedes Benz store in Freehold, NJ closed out 2015 in what was a record year for dealership buy-sells. Approximately 470 dealerships changed hands according to data compiled by The Banks Report which will be published in the TBR 2015 Dealership Buy-Sell Report…
January 10, 2016 — Cadillac announced late Friday that it has hired Dan Creed to replace Jim Bunnell as its vice president of sales operations in the U.S. Creed spent 12 years at BMW and most recently oversaw the German automaker’s 96 dealers in its Eastern Region. The move comes as the North American International Auto… Continue Reading
January 8, 2016 — The Penske Automotive Group announced yesterday that it has made an investment in the Japanese dealer market. It’s not an outright acquisition, but the dealer group has taken a 49% equity position in the Nicole Group, a four-store luxury group selling BMW, MINI, Rolls Royce and Ferrari brands in Tokyo and Kanagawa. The… Continue Reading
January 6, 2015 — Better check your portfolios if you are holding shares in any of the publicly traded dealer groups. stock prices have plunged for each of the seven automotive dealer groups following Monday’s overall market selloff (due to concerns about China), yesterday’s report of softer than expected December sales along with remarks made…
January 6, 2015 — Automaker shares took a hit yesterday as December’s auto sales were much softer than analysts projected. Predictions of a December SAAR (Seasonally Adjusted Annual Rate) being the fourth straight month exceeding 18 million missed by nearly a million units. But this is where you have to dig into the numbers. The softer… Continue Reading
January 5, 2016 — Judging from the lawsuit filed by the Department of Justice on behalf of the Environmental Protection Agency against Volkswagen, Porsche and Audi yesterday, it could be several months before the German automaker begins digging out from the mess its cheating on emissions standards created. The lawsuit could be particularly bad for dealers…
January 4, 2016 — General Motors is jumping into the ride sharing world investing $500 million in three-year old start up Lyft, reports Bloomberg Business. Meanwhile, GM’s president Dan Ammann will be on the company’s board. The investment is part of a $1 billion fund raising effort from Lyft which raises the company’s valuation to $5.5… Continue Reading