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…
February 20. 2017 (UPDATED) — The industry had a scare last Thursday when it appeared that a large data breach occurred involving several dealer management system (DMS) providers and dealer groups. What actually happened was much more benign, and involved none of the DMS vendors. Nor did the event involve any sensitive personal data. The… Continue Reading
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…
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
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…
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
January 12, 2017 — The Environmental Protection Agency (EPA) today accused Fiat Chrysler of violating the Clean Air Act by using software to hide excess diesel emissions in 104,000 vehicles. Following the news, FCA stocks dropped more than 16% forcing the halt share trading for the automaker. The EPA claims FCA installed and failed to… Continue Reading
January 2, 2017 — Beck Chevrolet scored another big legal win last week in its five-year battle with General Motors over how it measures sales effectiveness of its dealers and the decision could have a far reaching impact on the overall relationship manufacturers have with their dealers. The ruling last week by New York’s Second… Continue Reading
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
October 31, 2016 — Want to know how the consumer is going to react in an autonomous world? It’s all about the horses. Not horsepower, mind you, but actual horses. And therein lies the key for why private ownership will not only “survive, but thrive” in a world of autonomous vehicles, according to Beau Boeckmann, president… Continue Reading