Renault Nissan Alliance Saved for Now

Renault Nissan Alliance Saved for Now

December 11, 2015 — The Renault Nissan Alliance and the French government reportedly have agreed to terms that will restore balance of power between the two sides. The agreement, which still has to be voted on by the board, will allow Nissan to protect itself from increasing influence from the French government. The dispute (read more here)… Continue Reading

Volkswagen News Mixed for U.S. Dealers

Volkswagen News Mixed for U.S. Dealers

December 10, 2015 — Volkswagen executives today presented a far more favorable picture of the automaker this morning during an early press conference than could have been envisioned a few weeks ago. But the situation in the U.S. remains more murky as Volkswagen waits for guidance from U.S regulatory officials on whether its proposed fixes…

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Renault-Nissan Alliance Threatened

Renault-Nissan Alliance Threatened

December 8, 2015 — If you haven’t been paying attention to French politics recently, an intriguing battle is brewing for control of the Renault-Nissan Alliance. A vote by the alliance’s board that likely will determine its future is scheduled for December 11. The background is complicated. In a move to protect jobs and its ability to…

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Cliff Banks - The Banks Report

Volkswagen’s Issues Continue to Grow

December 6, 2015 — Volkswagen’s challenges are showing no signs of letting up and appear to be growing in complexity. Plunging sales, disappearing incentives, VW’s inability to find a fix and questions surrounding management continue to plague the automaker and its dealers. According to a report in the Wall Street Journal, top Volkswagen executives are…

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Cliff Banks - The Banks Report

Dealers are a Monopoly? Come On, Man…

December 1, 2015 — Apparently, someone recently declared it to be open hunting season for the media on car dealerships. Recent stories include claims of racism (in the Huffington Post) due to dealers fighting against the CFPB’s efforts to curtail financing profits to claims yesterday in the Daily Signal that removing the dealership monopoly from… Continue Reading

Cliff Banks - The Banks Report

A New Digital Land Grab Coming to Automotive

December 1, 2015 — Industry-specific domain extensions are coming to the automotive industry next week and could create a digital land grab reminiscent of the Oklahoma land rush in 1889. Cars Registry Ltd, a joint venture between XYZ and Uniregistry,  which owns and operates the new extensions, is making the domains, .cars, .car and .auto available for purchase… Continue Reading

Cliff Banks - The Banks Report

HGGC Acquires Third Automotive Firm

November 30, 2015 — The Banks Report has learned that private investment firm HGGC has just completed an acquisition of a third company in the automotive retail industry. The announcement should come in the next couple of days. HGGC, owned by Steve Young, a former NFL quarterback who was elected to the Hall of Fame, currently manages…

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