October 9, 2014 — Cox Automotive’s investment in AutoMD is continued indication that interest in the dealership service repair sector is growing and represents huge potential for vendors over the next 10 years. Cox Automotive and Federal-Mogul Motorparts announced last night they have made a minority investment in AutoMD, Inc., previously a wholly-owned subsidiary of U.S. Auto Parts Network,…
October 8, 2014 — A federal judge in New Jersey Monday approved the settlement of a class action lawsuit resulting from BMW’s long standing practice of forcing dealers to help inflate its monthly sales numbers in what is commonly known as “punching” sales. The lawsuit alleged BMW cheated customers by reducing the length of its four-year Ultimate…
October 7, 2014 — Lexus has built a virtual test drive simulator that will be in place at upcoming auto shows and customer events over the next several months, beginning with the Orange County International Auto Show, which was held last week. In March, we wrote a piece called The Coming Changes to Automotive Retail, in which we… Continue Reading
Our analysis of yesterday’s stunning announcement from Warren Buffett that he is acquiring the Van Tuyl Group: Welcome to the Industry, Mr. Buffett. I’ve had several conversations and have read numerous blogs that speculate Buffett will usher in a new world for automotive retail — improving the shopping and buying processes both online and offline. Some of… Continue Reading
October 2, 2014 – Warren Buffett’s announcement today that his Berkshire Hathaway Group is acquiring the Van Tuyl Group Group has the potential to change the market over the next year. Certainly, adding his iconic stature to an industry that already has business luminaries such as Roger Penske and MikeJackson only adds further validation that automotive retail is…
Despite our earlier report this morning that a manufacturer may have been trying to block part of the deal, the Lithia Motors’ acquisition of the DCH Automotive Group was just signed this afternoon and includes all of DCH’s 27 dealerships. The purchase closely follows what Lithia laid out in its investor presentation in mid-June. The Medford, OR-based…
I just saw the news posted by Elder Ford of Tampa’s General Manager Terald Hopkins that Irma Elder passed away early this morning. She was one of my favorite interviews while I was a reporter for Ward’s — in part because she possessed a sharp wit and a keen eye for business while maintaining a… Continue Reading
September 30, 2014 — After the market’s close today, the ADP Dealer Services Group moniker will cease to exist. The group, a division of ADP, is being spun off today as a separate public company and will be called CDK Global. What does this mean for dealers? The Dealer Services Group was started in 1972…
September 29, 2014 — The Sonic Automotive Group’s stock price has jumped $2 today from just over $23 to more than $25 today. The stock has been hovering below the mid-$20’s for most of the year after hitting its 52 week high of $27.87 in July. Meanwhile, shares of the other public dealer groups have…
September 29, 2014 — The sale of Ted Linhart’s Dominion Chevrolet Buick GMC in Short Pump, VA to the Hendrick Automotive Group will be finalized Tuesday September 30. TBR has reported on this pending acquisition a couple of times since it was announced in July. The Linhart family has been selling cars since 1955 and at… Continue Reading