Two Luxury Dealership Buy-Sells Close Out 2015

Two Luxury Dealership Buy-Sells Close Out 2015

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…

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Penske Automotive Makes Investment Play in Japan

Penske Automotive Makes Investment Play in Japan

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

Brutal Morning for Dealer Group Shares

Brutal Morning for Dealer Group Shares

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…

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Volkswagen Lawsuit Fines Far More Than $18 Billion

Volkswagen Lawsuit Fines Far More Than $18 Billion

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…

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Lyft Gets a Lift from General Motors

Lyft Gets a Lift from General Motors

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

Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday envisions a future where vehicles are autonomous and personal ownership becomes a relic of a bygone era. It’s coming out party is tonight at the Consumer Electronics Show — we’ll see if it brings anything new to the conversation. January 4, 2016 — Over the next few days, headlines will trumpet announcements from the…

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Lithia Announces Sixth Acquisition of 2015

Lithia Announces Sixth Acquisition of 2015

December 22, 2015 — Lithia Motors announced its sixth acquisition of 2015 yesterday — the Barton Chrysler Dodge Jeep Ram Alfa Romeo Fiat dealership in Spokane, WA. The purchase adds to Lithia’s presence in Spokane where it already owns stores selling the BMW, Chevrolet Cadillac, Mercedes-Benz Sprinter, and Subaru brands. Lithia expects the purchase to add approximately… Continue Reading