Fiat Revamps Floundering Retail Strategy

Fiat Revamps Floundering Retail Strategy

March 10, 2016 — It’s back to the drawing board for Sergio Marchionne’s grand strategy for Fiat’s return to the U.S. Five years after the Italian brand began its comeback in the U.S., Marchionne’s retail strategy is floundering. Sales are down 15% through February this year, even with the recent launch of the much-awaited 500X, whose…

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Vista’s Acquisition of Solera Not So Simple

Vista’s Acquisition of Solera Not So Simple

February 12, 2016 (UPDATED February 15 – in bold) — The U.S. junk-bond market may be giving the folks at Vista Equity Partners and Solera Holdings some heartburn this week. According to a report in Reuters this morning, Solera is having trouble convincing investors to participate in $4 billion debt sale to back its acquisition…

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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

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

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

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

18 Million Car Sales in 2017? IHS Says Yes

18 Million Car Sales in 2017? IHS Says Yes

October 18, 2015 — Record automotive sales the next two years? If IHS Automotive analysts are right, there will be. They do have a track record of sorts — a few years ago, as the industry was on the back end of the recession, most, if not all analysts were predicting a prolonged period of depressed auto… Continue Reading

Cliff Banks - The Banks Report

TBR Weekly Top 10 – October 16, 2015

October 17, 2015 — Dealer sues Autotrader; Adam’s an idiot; Viper no more? Lexus’ F-bomb; Can U.S. automakers compete? Getting mean over green in CA; Ford’s push toward mobility; Preventing cyber attacks; Picky lenders; Mobile sites still have work to do. The TBR Weekly Top 10 is our list of what we believe are the… Continue Reading