Injunction Vacated in Reynolds, CDK Antitrust Case

Injunction Vacated in Reynolds, CDK Antitrust Case

November 7, 2017 — Score this as a big win for Reynolds and Reynolds and CDK Global in the antitrust lawsuit filed against them by Authenticom. Late yesterday, the United States Court of Appeals for the Seventh Circuit out of Chicago vacated the preliminary injunction the lower district court in Wisconsin had awarded Authenticom in…

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AutoNation Jumps into Autonomous Driving World with Waymo Partnership

AutoNation Jumps into Autonomous Driving World with Waymo Partnership

November 2, 2017 — AutoNation executives aren’t buying into the hype that the autonomous vehicle era threatens auto retailers’ existence. Instead, the nation’s largest dealer group is getting into the self-driving game, announcing a few minutes ago that it is partnering Waymo, Alphabet Inc.’s autonomous driving company, to “offer strategic capabilities to maximize the life… Continue Reading

Cliff Banks - The Banks Report

CDK Acquires Reporting Firm Dashboard Dealer Enterprises

October 28, 2017 — CDK Global acquired enterprise reporting company Dashboard Dealership Enterprises (“DDE”), the company announced this week. The integration of DDE’s flagship product, Executive Eye, into the CDK platform will help CDK customers better measure their efficiency and profitability, the company says. As part of the acquisition, DDE CEO Josh Blick and COO William… Continue Reading

Cliff Banks - The Banks Report

Sage Sells Four Dealerships in Southern CA

UPDATED — October, 21, 2017 — Last month, the Trophy Automotive Group completed the purchase of four dealerships that were part of the eight-store Sage Automotive Group in the Los Angeles, CA area. Trophy, which was started by Nasser Watar in 2014 with the acquisition of Mercedes Benz of Encino, acquired West Covina Nissan, Universal… Continue Reading

Observations About Fair’s Recent $1 Billion Capital Raise

Observations About Fair’s Recent $1 Billion Capital Raise

October 21, 2017 – On Friday, Scott Painter’s newest venture, an online used car leasing app called Fair, announced it has secured offers for nearly $1 billion in combined capital from two separate groups of investors. The $1 billion is in addition to a soon to-be-completed round of financing from a group that includes BMW i…

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Cliff Banks - The Banks Report

Dealer Files Class Action Lawsuit Against DMS Vendors

October 20, 2017 — Teterboro Chrysler Dodge Jeep Ram filed a class action lawsuit yesterday against Reynolds and Reynolds and CDK Global alleging various antitrust violations. The case was filed in United States District Court in the New Jersey District. Teterboro, who is a Reynolds and Reynolds client, alleges the two companies during the period… Continue Reading

Cliff Banks - The Banks Report

Hyundai Launches New Shopper Assurance Program

October 13, 2017 — Hyundai Motor America last week unveiled its Shopper Assurance program – what the company calls an industry-first nationwide program that streamlines and modernizes the car-buying experience. The key elements of Shopper Assurance are intended to align with auto consumers’ major pain points: transparent pricing; flexible test drives; streamlined purchases; and a three-day… Continue Reading

Cliff Banks - The Banks Report

Top Dealer Files Explosive Lawsuits Against BMW, Audi

September 7, 2017 —  Several dealerships owned by the Braman Automotive Group filed three lawsuits this week against Audi and BMW in federal court alleging their business practices drive down dealership profit margins while coercing them to give up control of their businesses. Two of the lawsuits also include Terry Rhodes, Florida’s Executive Director of…

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Cliff Banks - The Banks Report

Court Stays Injunction for Reynolds & CDK; Expedites Appeals Process — Why It’s Important

August 9, 2017 —  After seemingly being dominated in the early stages in the antitrust lawsuit filed by Authenticom in May, Reynolds and Reynolds and CDK Global have clawed back to what can be described as a tie. The Seventh District Court of Appeals yesterday granted the two technology firms a stay of the preliminary…

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