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
February 27, 2015 — Software piracy is a big problem, and unfortunately, dealerships have unwittingly — or knowingly — contributed to the issue. At least four dealer groups have paid out nearly $1 million in settlements the last three years for alleged violations. And now, we’ve heard of two more groups — one which reportedly is… Continue Reading
February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…
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…
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…
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 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…
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…
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
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