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…
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…
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
January 11, 2015 — CDK Global suddenly is attracting the attention of Wall Street investors and analysts following two prominent hedge funds taking activist positions in the company since its IPO and spinoff from ADP in early October. The early returns have been strong — a stock price that began trading in the mid-twenties hit…
January 1, 2015 — China’s car dealers’ inventory battle with automakers shows the need for strong franchise laws. Also, what do the current challenges in the Chinese automotive market mean for the U.S. and the potential entry by players such as Volvo’s parent Geely or the Warren Buffett-backed BYD Auto? The recent spate of stories highlighting…
December 27, 2014 — Much of the auto industry’s discussion regarding cyber warfare focuses on the inherent vulnerabilities of the connected vehicle. But one area that receives little scrutiny is the retail side of the automotive industry. This will soon change as dealerships likely will become one of the central battlefields in the cyber wars that will be… Continue Reading
In a move The Banks Report predicted twice in the last six weeks, Sonic Automotive has traded a Cadillac dealership for one of John Elway’s two Chevrolet stores in the Denver market. (November Dealership Buy-Sell Update) The swap came about because Sonic needed real estate on which to build a new facility for the Murray… Continue Reading
David Maus has made his next move in automotive retail acquiring the Nissan dealership owned by the Ferman Automotive Group in New Port Richey, FL. Maus, who had been partnered with the Van Tuyl Automotive Group in four stores in the Orlando, FL area recently sold his stake back to Van Tuyl for a reported $20… Continue Reading
December 7, 2014 — The return of the midsize truck market is officially in play with two big announcements last week. Late last week, Toyota Senior Vice President of Operations Bob Carter announced during the automaker’s annual media Christmas luncheon in Detroit that it will show a newly revamped Toyota Tacoma at the 2015 North American… Continue Reading
December 6, 2014 — UPDATED — Is Volvo worth a second look? The growing role of private equity; How long will the high multiples continue? Record setting year for number of acquisitions as the industry zeroes in on 300. Number of acquisitions by brand. Also, Van Tuyl sells a dealership; Sonic’s pending deals & the top… Continue Reading