A story in Reuters last week reported that Guangzhou Auto is planning to launch its GS4 SUV in the U.S. in 2017 and is looking for dealers to partner with. It’s the latest Chinese automaker to announce plans to come to the U.S. — BYD (Warren Buffett owns a reported 10% — but don’t get starry… Continue Reading
UPDATED — March 23, 2015: A recent article in the Wall Street Journal about General Motors’ Shop-Click-Drive initiative shows just how far the automotive industry has to go before consumers have the ability to complete the entire car buying transaction online. (Updates are in italics.) GM created Shop-Click-Drive (www.ShopClickDrive.com) to make it easier for their… Continue Reading
March 17, 2015 — Yesterday’s overwhelming vote by New Jersey’s state Senate (30 – 2) to allow Tesla to sell directly to consumers, appears, on the surface, to be a political loss for the state’s car dealers. The reality, though, is far different. It’s definitely a win for Tesla in that it gets to sell its vehicles… Continue Reading
The newly minted Berkshire Hathaway Automotive wasted little time making its first acquisition buying Frank Kent Honda in Fort Worth, TX last week. The dealership was owned by Corrie Watson and her brother Will Churchill who decided to sell following the unexpected death of Watson’s husband, Tim. Churchill and Watson are great grandchildren of Frank Kent… Continue Reading
March 8, 2015 — The Wall Street Journal is reporting that General Motors will lay out Monday its plans to return billions to shareholders in a more aggressive timetable than originally planned. The move is part of an agreement with activist investor Harry Wilson who has agreed to not pursue a board seat. The amount GM intends to… Continue Reading
February 28, 2015 — While not yet “official,” Berkshire Hathaway’s acquisition of the Van Tuyl Automotive Group is now completed, according to the annual shareholder letter Warren Buffett released earlier today. There are a few details still to iron out, likely with holdings such as the off shore insurance entities owned by the Van Tuyl… Continue Reading
February 15, 2015 — Activist investors suddenly have taken a keen interest in automotive-related companies. Is that good news for the targeted firms? It depends on who you ask. CDK Global, Autobytel, and now, General Motors, are the recent targets of activist investors. It’s a relatively new phenomenon in automotive retail. Automotive manufacturing suppliers have… Continue Reading
January 26, 2015 — It’s no secret that the automotive retail industry gets pummeled in the press. Dealers often are journalists’ favorite punching bags. It’s one of the reasons I appreciate and like the Time Magazine’s Dealer of the Year award, which is handed out each year at the National Automobile Dealers Association Convention. The program, sponsored… Continue Reading
January 19, 2015 — AutoNation announced late last week that its President & COO Mike Maroone is retiring on February 3 and is leaving his board position in April of this year. Mike Jackson, AutoNation’s chairman and chief executive officer will assume the role of company president while Bill Berman, currently vice president of sales, was named… Continue Reading
January 11, 2015 — The auto show in Detroit hasn’t yet officially begun, but we already have what likely will be the event’s biggest story — the suddenly heated battle between General Motors and Tesla for dominance over the electric vehicle segment. Tomorrow morning’s unveiling of GM’s concept of its new electric vehicle, dubbed the Bolt —… Continue Reading