Cliff Banks - The Banks Report

Texas Teachers Invest in Dealerships

November 24, 2014 — Teachers in Texas apparently like the financial prospects of franchised car dealerships. One of the country’s largest pension funds, the Teachers Retirement System of Texas is investing in Capital Automotive, a firm that provides sale-leaseback capital to car dealers, through an investment fund established by Capital’s parent Brookfield Property Partners. Brookfield…

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Monster October for Dealership Buy-Sells

Monster October for Dealership Buy-Sells

The automotive retail space is within striking distance of 300 dealership acquisitions for all of 2014 following a monster October that saw 49 rooftops change hands. Meanwhile, prices for deals start to climb in wake of Buffett’s announcement. Fueled by Lithia Motors’ acquisition of the DCH Automotive Group, the 49 rooftops that changed owners in…

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3rd Quarter Dealership Buy-Sell Update

3rd Quarter Dealership Buy-Sell Update

November 3, 2014 –The dealership buy-sell market remains hot through for the year with 200 acquisitions through the third quarter. While Warren Buffett’s announcement brought a renewed sense of energy to the market, it ultimately may dampen potential acquisitions for the next couple of quarters as buyers are content to wait out what is proving to…

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Cadillac’s Plan – New Home & New Vehicles; Fewer Stores?

Cadillac’s Plan – New Home & New Vehicles; Fewer Stores?

October 29, 2014 — Dealers in the market for a Cadillac franchise may want to tread carefully. A month ago we wrote about what we believe will be a painful forecast for many of Cadillac’s 924 dealers. The brand has a new home in New York and as many as 10 new products coming in…

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Mr. Buffett Doesn’t Want to Change Automotive Retail, He Likes the Model Too Much

Mr. Buffett Doesn’t Want to Change Automotive Retail, He Likes the Model Too Much

Our analysis of yesterday’s stunning announcement from Warren Buffett that he is acquiring the Van Tuyl Group: Welcome to the Industry, Mr. Buffett. I’ve had several conversations and have read numerous blogs that speculate Buffett will usher in a new world for automotive retail — improving the shopping and buying processes both online and offline. Some of… Continue Reading

Welcome to Automotive Retail, Mr. Buffett

Welcome to Automotive Retail, Mr. Buffett

October 2, 2014 – Warren Buffett’s announcement today that his Berkshire Hathaway Group is acquiring the Van Tuyl Group Group has the potential to change the market over the next year. Certainly, adding his iconic stature to an industry that already has business luminaries such as Roger Penske and MikeJackson only adds further validation that automotive retail is…

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