Fewer Dealers in the Forecast for Cadillac

Fewer Dealers in the Forecast for Cadillac

Various media reports last week confirm Cadillac is offering buyouts to 400 of its smallest dealerships. The news isn’t a surprise as we speculated numerous times since September 2014 that Cadillac Chief Johan de Nysschen would try to reduce the number of 925 Cadillac dealers down to 400 to 500 stores. The buyouts follow Cadillac’s…

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How FCA’s Sales Scheme was Different Than Typical ‘Punching’ Practices

How FCA’s Sales Scheme was Different Than Typical ‘Punching’ Practices

July 19, 2016 — As news leaked yesteday that the FBI and SEC is investigating Fiat Chrysler Automobiles for possible sales fraud, a key question kept popping up in conversations — how is what FCA allegedly did any different than what other automakers do when it comes to reporting sales? For years — even decades —… Continue Reading

Cliff Banks - The Banks Report

Private Car Ownership — A dirty Word in Silicon Valley?

To steal a phrase, Silicon Valley appears to be gripped by an “irrational exuberance” for the future utopia promised by connected and autonomous vehicle technology. At the recent Connected & Charged conference presented by Prospect Silicon Valley held at the SAP campus in Palo Alto, CA, it was striking to see the attention given by panelists and speakers on… Continue Reading

An Automotive Brexit Primer on What to Watch in the Coming Months

An Automotive Brexit Primer on What to Watch in the Coming Months

July 3, 2016 — The long term effects on the auto industry resulting from Great Britain’s vote to exit the European Union may well be determined by how amicable the divorce proceedings are. Early indications are that the breakup could be ugly. But it’s only been a week since the Brits shocked the world so…

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Volkswagen’s Initial Diesel Payout to Exceed $15 Billion

Volkswagen’s Initial Diesel Payout to Exceed $15 Billion

(UPDATED June 30 with dealer information)  June 28, 2016 — Volkswagen is expected to announce settlements with U.S. regulatory agencies and 475,000 customers for lying about its diesel emissions today that could exceed $15 billion. According to numerous media reports, the deal only affects the 475,000 customers that purchased 2009 – 2015 2.0 liter diesel Volkswagen…

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Cliff Banks - The Banks Report

NY Court Rules GM’s Sales Formula Not Legal

May 10, 2016 –In an intriguing decision last week, the New York’s Court of Appeals determined in a 5 – 1 decision that General Motors’ use of its Retail Sales Index to evaluate its dealers’ sales performance violates state law. The ruling could force manufacturers to change how they measure their dealers’ retail performance. GM used the RSI In 2011 in… Continue Reading