December 11, 2017 — This afternoon, Cox Automotive and several of its subsidiaries filed a $200 million lawsuit against CDK Global alleging ongoing antitrust and unlawful competition. The suit is the latest in a series of legal actions taken against CDK and Reynolds and Reynolds since February this year by competitors and dealers complaining about… Continue Reading
November 20, 2017 — Despite a mixed earnings report at the end of October, along with a flurry of antitrust lawsuits and two separate Federal Trade Commission reviews in recent months, CDK Global’s stock price is up nearly $5 trading at more than $66 a share since Wednesday morning last week. Fueling the jump in…
JOIN US IN AUSTIN, TX DECEMBER 7TH AND 8TH, 2017! Hotel Room Block Ends Today (November 21st)! AUTOVATE 2017 Bringing together Visionary Investors with Progressive Dealers, Innovative Entrepreneurs and Cutting-Edge Automakers Created by The Banks Report, and hosted by CarStory, AUTOVATE 2017 is a one-of-a-kind summit where dealer executives, investors, entrepreneurs and automakers will lead the conversation… Continue Reading
November 7, 2017 — Score this as a big win for Reynolds and Reynolds and CDK Global in the antitrust lawsuit filed against them by Authenticom. Late yesterday, the United States Court of Appeals for the Seventh Circuit out of Chicago vacated the preliminary injunction the lower district court in Wisconsin had awarded Authenticom in…
November 6th, 2017 — “The era of the human-driven automobile, its repair facilities, its dealerships, the media surrounding it — all will be gone in 20 years.” So wrote automotive extraordinaire Bob Lutz yesterday for Automotive News as part of its Redesigning the Industry series. Lutz, who is in his mid-eighties, has a rich history… Continue Reading
November 3, 2017 — As automakers begin flooding the market with electric vehicles (EV) the next couple of years, a key question yet to be answered is just how much tax credits drive demand for a segment that makes up 1% of the new car market. Meanwhile, the uncertain future of the federal tax credit is…
November 2, 2017 — AutoNation executives aren’t buying into the hype that the autonomous vehicle era threatens auto retailers’ existence. Instead, the nation’s largest dealer group is getting into the self-driving game, announcing a few minutes ago that it is partnering Waymo, Alphabet Inc.’s autonomous driving company, to “offer strategic capabilities to maximize the life… 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 9, 2017 — IHS Markit’s acquisition of Automotive Mastermind, one of the year’s biggest U.S.-based deals, brought an active third quarter to a close last week. The other big story of the quarter — and perhaps the year — is the nearly $200 million invested in six startups specializing in online automotive transaction solutions.…
