Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday’s Automotive Vision Unveiling at CES Tonight

Faraday envisions a future where vehicles are autonomous and personal ownership becomes a relic of a bygone era. It’s coming out party is tonight at the Consumer Electronics Show — we’ll see if it brings anything new to the conversation. January 4, 2016 — Over the next few days, headlines will trumpet announcements from the…

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Lithia Announces Sixth Acquisition of 2015

Lithia Announces Sixth Acquisition of 2015

December 22, 2015 — Lithia Motors announced its sixth acquisition of 2015 yesterday — the Barton Chrysler Dodge Jeep Ram Alfa Romeo Fiat dealership in Spokane, WA. The purchase adds to Lithia’s presence in Spokane where it already owns stores selling the BMW, Chevrolet Cadillac, Mercedes-Benz Sprinter, and Subaru brands. Lithia expects the purchase to add approximately… Continue Reading

Hot December for Dealership Buy-Sells

Hot December for Dealership Buy-Sells

December 17, 2015 — It was an intense first two weeks in the dealership buy-sell world as transactions involving 38 stores were either closed or announced through December 15. December is shaping up to be a huge month which could put the industry near 500 rooftops exchanging hands in 2015. It’s the biggest two week stretch since The Banks Report…

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McLarty Buys 4 Dealerships from Asbury

McLarty Buys 4 Dealerships from Asbury

December 16, 2015 — McLarty Automotive acquired four dealerships this week from the Asbury Automotive Group in Little Rock, AR. The purchase gives the McLarty group 13 dealerships — 11 that have been acquired since the end of October. The four dealerships are North Point Nissan (McLarty Nissan of Little Rock); North Little Rock Nissan (McLarty… Continue Reading

Volkswagen News Mixed for U.S. Dealers

Volkswagen News Mixed for U.S. Dealers

December 10, 2015 — Volkswagen executives today presented a far more favorable picture of the automaker this morning during an early press conference than could have been envisioned a few weeks ago. But the situation in the U.S. remains more murky as Volkswagen waits for guidance from U.S regulatory officials on whether its proposed fixes…

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Cliff Banks - The Banks Report

A New Digital Land Grab Coming to Automotive

December 1, 2015 — Industry-specific domain extensions are coming to the automotive industry next week and could create a digital land grab reminiscent of the Oklahoma land rush in 1889. Cars Registry Ltd, a joint venture between XYZ and Uniregistry,  which owns and operates the new extensions, is making the domains, .cars, .car and .auto available for purchase… Continue Reading

McLarty Automotive Buys Stores, has Investment from Family Offices

McLarty Automotive Buys Stores, has Investment from Family Offices

October 28, 2015 — The Banks Report has confirmed the McLarty Automotive Group has acquired seven stores selling 16 franchises of the Joe Machens dealership group in Columbia, MO, from owners Gary and Rusty Drewing. Charles Oglesby, the former chairman and CEO of the Asbury Automotive Group, has been named the CEO of the group. The… Continue Reading