Cliff Banks - The Banks Report

Hyundai Buying FCA? We Have Questions

July 2, 2018 — Late last week, the financial newsletter Capitol Intelligence Group reported Hyundai Motor Group’s CEO Chung Mong-koo is preparing a possible takeover of Fiat Chrysler Automobiles sometime before the Italian automaker’s annual shareholder meeting scheduled for May 2019. A Hyundai spokesman later called the reports “groundless” according to a report by CNET’s RoadShow.…

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Cliff Banks - The Banks Report

Cars.com for Sale? Probably Not

May 31, 2018 — A late report in the New York Post yesterday afternoon claiming Cars.com is for sale pushed the company’s stock up more than 4% in after hours trading. The only problem is, the story, which was picked up in numerous media outlets, likely isn’t true. The story also reported the Cars.com had… Continue Reading

Cliff Banks - The Banks Report

Chanos on Musk – “No Extradition Treaty with Mars”

April 26, 2018 — Harsh comments from Jim Chanos, founder and managing partner of Kynikos Associates, this morning on CNBC’s Squawk Box about Elon Musk and Tesla. His firm, well-known for its short-selling investment strategy, has been short on Tesla for four years. Chanos brings some street cred to the conversation. He was one of the first… Continue Reading

Cliff Banks - The Banks Report

Auto Industry Enters Era of Uncertainty

March 30, 2018 — On the wall outside the executive conference room at Cars.com’s headquarters, is a mural. It’s a picture of a two-lane road in the forest that bends abruptly to the left. The turn —  which is a bit misty — is so sharp, we can’t see what’s beyond the bend. CEO and… Continue Reading

Cliff Banks - The Banks Report

The Banks Report’s AUTOVATE 2017 Features Early Stage Startups Designed for the Next Generation of Automotive Retail

DETROIT, Nov. 20, 2017 /PRNewswire/ — AUTOVATE 2017, created by The Banks Report and hosted by CarStory, will feature seven early stage startup companies during its debut event Dec. 7-8, in Austin, TX.  The Startup Showcase will allow attendees to learn more about these breakthrough technologies through presentations and panel discussions with industry experts.  “We created AUTOVATE to bring together the influencers and… Continue Reading

The Banks Report Introduces AUTOVATE 2017

The Banks Report Introduces AUTOVATE 2017

DETROIT, Nov. 14, 2017 /PRNewswire/ — Debuting Dec. 7-8 in Austin, TX, is AUTOVATE 2017, a unique event for dealer executives, investors, entrepreneurs and auto manufacturers. Created by The Banks Report and hosted by CarStory, AUTOVATE will focus on advanced technology solutions driving the automotive retail industry forward, including the innovators behind the solutions, decision-making dealer executives, and investors funding growth in the industry. “AUTOVATE is a… Continue Reading

Lutz Predicts End of Automotive in 20 Years, Do the Math, It Ain’t Happening

Lutz Predicts End of Automotive in 20 Years, Do the Math, It Ain’t Happening

November 6th, 2017 — “The era of the human-driven automobile, its repair facilities, its dealerships, the media surrounding it — all will be gone in 20 years.” So wrote automotive extraordinaire Bob Lutz yesterday for Automotive News as part of its Redesigning the Industry series. Lutz, who is in his mid-eighties, has a rich history… Continue Reading