June 4, 2017 — CDK Global’s pending acquisition of competitor Auto/Mate is a brilliant deal that should make investors happy. With only 1,300 or so dealerships in play and a price tag that won’t dent the bottom line (although Auto/Mate will get a nice multiple) it isn’t that big of a deal on the surface.…
June 1, 2017 — AutoNation named Lance Iserman as its new Chief Operating Officer and Executive Vice President of Sales yesterday. Iserman’s appointment is the latest in a series of executive moves by Chairman and CEO Mike Jackson designed to better position AutoNation for the future as it moves forward with new strategic initiatives to extend… Continue Reading
May 29, 2017 — Neural nets will be a critical part of enabling autonomous vehicles to become a reality, says Venture Capitalist Steve Jurvetson. How does that impact dealers? One of the big challenges over the next few years for automakers will be how to manage the massive amounts of data created by the connected…
May 22, 2017 — The court today denied motions filed by CDK Global and Reynolds and Reynolds on Friday afternoon requesting dismissal of Authenticom’s request for a preliminary injunction hearing in the antitrust lawsuit it recently filed. Both defendants cited Authenticom’s nearly two-year delay in filing the lawsuit and request for the preliminary injunction. They also cited… Continue Reading
May 22, 2017 — The downward trend in dealership buy-sell activity which began in 2016 continued into the first quarter of this year with a 36% year-over-year decline, according to data compiled by The Banks Report. Also in the first quarter report, Audi continues to be aggressive in using the Right of First Refusal to…
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
(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
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…
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…
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