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
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…
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
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
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…
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…
August 7, 2017 — Less than a year ago, Gary Flom was building an automotive empire consisting of eight dealerships in the heart of New York City with plans to sell more than $600 million worth of vehicles this year. Today, that empire is in tatters, due to a frenetic growth pace railroaded by a bitter… Continue Reading
August 7, 2017 — UPDATE BELOW — Sources confirm Lithia Motors is nearing completion of its pending acquisition of the Downtown LA Auto Group from the Shammas Group, its second large acquisition this year. The deal is likely to close as early as this week. In May, Lithia acquired six of the Baierl Group dealerships in… Continue Reading
August 1, 2017 — Good news and bad news today on the antitrust front for CDK Global and Reynolds Reynolds. First, in the lawsuit filed by Authenticom, Judge James Peterson of the Wisconsin district court issued a temporary seven-day stay this afternoon of the preliminary injunction he granted Authenticom on Friday to give the appeals…
July 30, 2017 — It is only a preliminary injunction, but the order issued by Judge James Peterson on Friday in the antitrust lawsuit pitting Authenticom against defendants Reynolds and Reynolds and CDK Global appears to have handed the plaintiff a significant victory. Authenticom is calling it a “stunning victory.” The order does grant Authenticom…