Cliff Banks - The Banks Report

Fiat Chrysler Says Dealer Allegations Are Baseless

January 15, 2016 — Fiat Chrysler Automobiles came out fighting late yesterday in a strongly worded release rejecting the allegations of falsifying sales made in a civil lawsuit filed this week by dealer Ed Napleton. In the statement, FCA called the lawsuit “nothing more than the product of two disgruntled dealers who have failed to perform… Continue Reading

Cliff Banks - The Banks Report

TBR 2015 Auto Retail Vendor Acquisition Report

January 14, 2016 — Vendor acquisition activity in 2015 was brisk with 30 transactions getting across the finish line. But even though the number of acquisitions doubled what the industry saw in 2014, the total dollar figure was significantly less in 2015. More than $30 billion in equity changed hands in 2014 as several deals…

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Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

January 14, 2016 — (UPDATED JAN. 15, 2016 7:10 AM — FCA’s Response Below) Hang on to your seats — the latest automotive scandal is beginning to erupt, and this one is going to rock the automotive industry. The news broke yesterday that the Napleton Automotive Group filed a lawsuit in a federal court in Illinois… Continue Reading

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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