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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Asbury Acquires Oldest Family-Owned Transportation Co. in the U.S.

Asbury Acquires Oldest Family-Owned Transportation Co. in the U.S.

January 16, 2017 — The Asbury Automotive Group is buying Hare Chevrolet and its affiliated companies — a collision center, an Isuzu dealership and a truck center. Hare Chevrolet, which sits a few miles north of Indianapolis in the town of Noblesville on State Road 37, is unique because it is the oldest family-owned transportation… Continue Reading

Connected Car Over the Air Updates Not a Sure Thing

Connected Car Over the Air Updates Not a Sure Thing

November 28, 2016 — Is a potential battle looming between automakers and tech firms with the government over security issues with over-the-air updates made possible by connected car technology? Billions of dollars are at stake for automakers, technology firms and even dealers, but comments from various government officials over the last several months indicate OTAs… Continue Reading

Cliff Banks - The Banks Report

Lithia Acquires 18th Store This Year

October 6, 2016 — Lithia Motors announced this morning the acquisition of Audi Auto Gallery in Woodland Hills, CA, from co-founders Harrison Gray and Tony Schwartz. It is Lithia’s 18th dealership acquired this year. The additional $120 million in annual revenue created by the acquisition brings Lithia’s total to approximately $1 billion in acquired revenue this… Continue Reading