Fiat Revamps Floundering Retail Strategy

Fiat Revamps Floundering Retail Strategy

March 10, 2016 — It’s back to the drawing board for Sergio Marchionne’s grand strategy for Fiat’s return to the U.S. Five years after the Italian brand began its comeback in the U.S., Marchionne’s retail strategy is floundering. Sales are down 15% through February this year, even with the recent launch of the much-awaited 500X, whose…

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Tesla Wins Reprieve in Indiana

Tesla Wins Reprieve in Indiana

February 26, 2016 — Tesla has won its latest battle fighting state franchise law designed to keep it from selling vehicles to consumers. at least for a few months. The Indiana Senate Commerce and Technology Committee decided yesterday to send a controversial bill banning manufacturer-direct automotive sales to customers to an interim study committee later this year. House… Continue Reading

Cliff Banks - The Banks Report

Reynolds and Reynolds Acquires ReverseRisk

February 23, 2016 — Reynolds and Reynolds will announce today that it has acquired ReverseRisk, a web-based analytics reporting platform for automotive dealers. It will become part of Reynold’s Retail Management System. Additionally, NCM Associates’s agreement to resell the platform under the NCM axcessa name will continue following the acquisition. David Spisak, co-founder and president of… Continue Reading

Cliff Banks - The Banks Report

Group 1 Buying and Selling

February 6, 2016 — Group 1 Automotive continues to trim its presence in the Northeast divesting of three dealerships there within the last several weeks. Meanwhile, the nation’s third largest dealer group announced this week it has completed the acquisition of the 12-store Spire Automotive Group located in metro London in the United Kingdom. At the end of… Continue Reading

GM’s Factory Pre-Owned Collection – Good for Dealers?

GM’s Factory Pre-Owned Collection – Good for Dealers?

January 16, 2016 — General Motors’ Factory Pre-owned Collection, announced last week during the North American International Auto Show, looks to be an intriguing opportunity for the automaker’s dealers, but it does raise questions. There are benefits, but numerous dealers have emailed TBR expressing concern that GM is trying to provide a solution to a problem that doesn’t…

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Pounding of Auto Retail Stocks Continues

Pounding of Auto Retail Stocks Continues

January 18, 2016 — When the stock market closed Friday, shares of the seven publicly traded automotive retail companies (including Carmax) had lost on average, 27% of their value since the market’s opening for the year two weeks earlier on January 4. Wall Street finished the week with its roughest two-week opening of any year…

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CDK & Cox Sign Integration Agreement

CDK & Cox Sign Integration Agreement

January 15, 2016 — Following several months of negotiations, Cox Automotive and CDK Global finally signed an agreement today securing Cox’s participation in CDK’s Third-Party Access (3PA) Program. The agreementt should eliminate any uncertainty in the market about whether Cox’s solutions would be able to integrate with CDK’s dealer management systems (DMS). The agreement also standardizes… Continue Reading

Cliff Banks - The Banks Report

Fiat Chrysler Says Dealer Allegations Are Baseless

January 15, 2016 — Fiat Chrysler Automobiles came out fighting late yesterday in a strongly worded release rejecting the allegations of falsifying sales made in a civil lawsuit filed this week by dealer Ed Napleton. In the statement, FCA called the lawsuit “nothing more than the product of two disgruntled dealers who have failed to perform… Continue Reading