Cliff Banks - The Banks Report

Hyundai and Subaru in Lawsuits Against Dealers

February 13, 2015 — In a lawsuit you don’t see every day, Hyundai is suing a Chevrolet store for importing parts and selling them to its dealers in the U.S. Meanwhile, Subaru filed a lawsuit against one of its California dealers for falsifying customer service surveys. Wonder how long before that store is on the…

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Cliff Banks - The Banks Report

Does Wilson Have Other Plans for GM?

February 12, 2014 — Right now, it’s a simple share buyback plan that would be-activist investor Harry Wilson is trying to foist upon General Motors. But does the former architect of President Obama’s automotive bailout plan have other plans in mind also? If so, it could be bad news for General Motors dealers. This week, Harry…

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Congratulations to Andy Crews — Time Magazine’s 2015 Dealer of the Year

Congratulations to Andy Crews — Time Magazine’s 2015 Dealer of the Year

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

Cliff Banks - The Banks Report

TBR Daily Update — January 29, 2015

January 29, 2015 — Group 1 & Prestige Reach Settlement; FCA’s Impressive 2014; W.P. Carey expands into U.K. with $350 Million Deal; Jim Ellis Sells VW Store/ Group 1 Automotive and Prestige Imports Reach Settlement Group 1 Automotive’s pending acquisition of the nation’s top selling Audi dealership took a step closer to completion yesterday following…

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Cliff Banks - The Banks Report

TBR Daily Update — January 28

January 28, 2015 — Fort Walton Beach Stores Sold for $80 Million; Penske Buys Land Rover Dealership; Texans Find Ohio to be Tough; Oregon Dealer Dies; It’s Huge — and Not in a Good Way; Mac Haik Acquires Nissan Store Fort Walton Beach Stores Sold for $80 Million In a deal we reported on two weeks ago, Texas-based…

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Big Money at NADA; Soros Rumors and Dinners…

Big Money at NADA; Soros Rumors and Dinners…

January 26, 2015 — Sitting in the San Francisco airport waiting for a flight (after missing my morning flight) and going through nearly 50 pages of notes from last week’s NADA convention and related conferences. I’m not a big theme guy, but on the last day of the convention, that seemed to be the question I heard the… Continue Reading

Musk Drops Bombshells in Detroit

Musk Drops Bombshells in Detroit

January 15, 2015 — It’s time for some perspective now that some of the dust has settled from Elon Musk’s explosive appearance in Detroit on Tuesday during which he managed to casually drop at least three bombshells about Tesla. When he first got on stage at the Automotive News World Congress, Tesla’s founder and CEO appeared…

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Cliff Banks - The Banks Report

TBR Daily Report — January 13

January 13, 2015 — The Banks Report began a new feature this week for subscribers — The TBR Daily Report, which provides short clips of analysis and news you may have missed. In today’s TBR Daily Report:: Chinese online firm BitAuto’s shares plunge;  Volkswagen to add 100 dealerships; Washington, IA dealership bankrupt. AutoTrader’s Bitauto Gets…

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GM vs. Tesla Heats Up

GM vs. Tesla Heats Up

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