Berkshire Bill Dead in Texas?

Berkshire Bill Dead in Texas?

May 18, 2017 — According to an article in The Texas Tribune this week, legislation dubbed the “Buffett Bill” that would allow Berkshire Automotive to keep selling vehicles in Texas is dead. Fierce opposition from Tea Party activists and environmental groups (yes, politics still can make strange bedfellows) forced Lt. Gov. Dan Patrick to pull the legislation… Continue Reading

Former AutoNation Exec Mike Maroone Buys Serra Stores in CO

Former AutoNation Exec Mike Maroone Buys Serra Stores in CO

(Update -Correction Below) May 15, 2017 — Mike Maroone, former AutoNation president, has acquired four dealerships from the Serra organization in Colorado Springs, CO. The acquisition follows a two-year non-compete stemming from Maroone’s retirement from AutoNation in April 2015. The stores include two Chevrolet dealerships and Honda and Volkswagen dealerships along with a collision shop. The… Continue Reading

Tesla’s Retail Model May Be Its Biggest Challenge

Tesla’s Retail Model May Be Its Biggest Challenge

May 9, 2017 — Tesla’s moment of truth is nearly here. This year’s introduction of its Model 3 may be the auto industry’s most critical vehicle launch since Ford’s Model T took over America’s roads more than a century ago. Whether the fledgling company becomes the ultimate disruptor and a truly viable automaker will be determined by the…

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The Impact of Carvana’s Less Than Stellar IPO

The Impact of Carvana’s Less Than Stellar IPO

May 2, 2017 — Carvana’s less than stellar first couple of days on the New York Stock Exchange raises questions not only about its business model, but could also impact the IPO plans of other companies in the automotive retail space. The online used vehicle retailer launched its initial public offering last Friday raising $225 million on the…

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Berkshire Automotive Caught in Law of Unintended Consequences

Berkshire Automotive Caught in Law of Unintended Consequences

April 21, 2016 — Berkshire Hathaway Automotive finds itself the victim of the law of unintended consequences in Texas’ fight to keep electric vehicle manufacturer Tesla from selling direct to consumers. The problem is that Texas’ legislation  prohibiting manufacturers from selling vehicles directly to customers in the state was written so broadly that it includes… Continue Reading

TBR 2016 Report on Dealership Buy-Sell Activity

TBR 2016 Report on Dealership Buy-Sell Activity

March 18, 2017 — Although 2016 saw a slight downturn in the number of transactions from 2015, dealership buy-sell activity the last three years has stayed fairly consistent, according to data compiled by The Banks Report. And 2017 is shaping up to be on par with the previous three years. From 2015 to 2016, the…

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CDK, Reynolds and Reynolds Sued for Alleged Antitrust Practices

CDK, Reynolds and Reynolds Sued for Alleged Antitrust Practices

February 4, 2017 — In what may become the year’s biggest story in automotive retail, the long simmering battle over data access in the automotive retail world escalated yesterday when a third party vendor sued tech giants CDK Global, Reynolds and Reynolds and one of their joint ventures for engaging in antitrust practices. This is the first…

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BMW Exec to Join Holman Automotive

BMW Exec to Join Holman Automotive

February 3, 2017 — Holman Automotive is expected to name longtime BMW executive Peter Witt as its Platform Vice President for the Northeast today, The Banks Report has learned. Witt will lead Holman’s 10 dealerships in New Jersey and Pennsylvania and will report to Gene Welsh, the group’s executive vice president. Holman is one of… Continue Reading

NADA’s 2017 Will Be Challenging

NADA’s 2017 Will Be Challenging

February 2, 2017 —  As the National Automobile Dealers Assn. celebrated its 100 year anniversary at its annual convention in New Orleans last week, it capped an nine year period that might have been its toughest, yet finest hour. But 2017 brings a new set of daunting challenges. Playing Defense For the last nine years, the association…

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