What China’s Automotive Struggles Means for the U.S.

What China’s Automotive Struggles Means for the U.S.

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…

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Cliff Banks - The Banks Report

Dealerships Are Key in Cyber Attack Wars

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

Cliff Banks - The Banks Report

Texas Teachers Invest in Dealerships

November 24, 2014 — Teachers in Texas apparently like the financial prospects of franchised car dealerships. One of the country’s largest pension funds, the Teachers Retirement System of Texas is investing in Capital Automotive, a firm that provides sale-leaseback capital to car dealers, through an investment fund established by Capital’s parent Brookfield Property Partners. Brookfield…

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Cox’s Latest Acquisition — And Another Investment

Cox’s Latest Acquisition — And Another Investment

November 23, 2014 — Cox Automotive  continues to be active in the acquisition space buying the assets of small used car data firm last week, following its $325 million purchase of Xtime two weeks ago. It.has spent approximately $3 billion on both U.S. and international (China and Brazil) acquisitions since 2010. Meanwhile, the Atlanta-based firm…

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AutoNation Moves Car Buying into the Future

AutoNation Moves Car Buying into the Future

November 13, 2014 — Next month, AutoNation will take a big step in making true online transactions in the car buying process a reality when it begins the roll out of its SmartChoice Express initiative. It’s one of its biggest initiatives to date and could move the automotive retail space into the next phase of car…

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Monster October for Dealership Buy-Sells

Monster October for Dealership Buy-Sells

The automotive retail space is within striking distance of 300 dealership acquisitions for all of 2014 following a monster October that saw 49 rooftops change hands. Meanwhile, prices for deals start to climb in wake of Buffett’s announcement. Fueled by Lithia Motors’ acquisition of the DCH Automotive Group, the 49 rooftops that changed owners in…

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