August 28, 2015 — In December, we speculated about the possibility that Ford would resurrect the Ranger, its compact truck, in the U.S. market. Earlier this week, sources leaked to the Detroit News that Ford indeed is considering bringing the Ranger along with the Bronco back to the U.S. The move likely is part of… Continue Reading
August 25, 2015 — The latest media argument for a revamping of the current automotive retail system — even to the point of getting rid of dealerships — continues this time with an article in the Economist titled Death of a car salesman. While the article is better than most, it misses key points. One problem… Continue Reading
August 2, 2015 — Looking for the next big idea in automotive retail? Or do you want to get your idea in front of potential investors? AutoVentures, a new and unique conference launching in October, seeks to bring entrepreneurs, investors and dealers together for an automotive “Shark Tank” experience. It’s a concept that’s a first… Continue Reading
July 29, 2015 — One lawsuit down, several more to go. In what is some much needed good news for online car buying platform TrueCar, it announces it has reached a settlement with Sonic Automotive in a trademark dispute dating back to August 2013. The Banks Report first reported the dispute in September 2013 (TrueCar… Continue Reading
The news last week that two researchers were able to remotely hack into a Jeep from several miles away and shut off its engine has significant implications for the automotive retail space. Make no mistake, we are now in the hackable vehicle era. As Charlie Vogelheim, an automotive consultant and host of MotorTrend’s Audio Podcast… Continue Reading
July 13, 2015 — One of the questions I’ve been asked the most the last few months is what is Chip Perry doing? Now we have an answer — and it’s not automotive-related. Today, RentPath LLC announced it has named Perry President and CEO. The firm is the parent company to sites Apartment Guide, Rent.com, Rentals.com… Continue Reading
July 13, 2015 — The Holman Automotive Group acquired Princeton BMW MINI in New Jersey today from the Asbury Automotive Group. It is Holman’s second acquisition in the last several weeks as it acquired Audi of Willow Grove outside of Philadelphia in June. Holman operates approximately 22 franchises located in Pennsylvania, New Jersey and Florida. The… Continue Reading
July 6, 2015 — Two intriguing investments in recent weeks show that CDK Global and Cox Automotive are looking hard at the growing telematics and connected vehicle space — a sector that many analysts believe will explode in the next year or so. First, Cox Automotive in early June participated in a $6.5 million Series… Continue Reading
June 30, 2015 — Lei Shing Hong recently acquired 15 Mercedes Benz dealerships in Germany following its purchase of two Mercedes stores in Australia outbidding other groups including one from the U.S. looking to establish a presence there. The world’s largest Mercedes Benz dealer is Lei Shing Hong Ltd, a Chinese company with approximately 180 Mercedes dealerships… Continue Reading
June 6, 2015 — An erupting scandal involving former Fiat Chrysler and Mercedes Benz executives in Australia snags website provider MotorTrak and potentially threatens its business globally while raising questions about its deal to provide websites to Mercedes Benz retailers in the U.S. For the last week, media outlets in Australia and New Zealand have been… Continue Reading