Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

Lawsuit Alleges Fiat Chrysler Violated Federal Racketeering Laws

January 14, 2016 — (UPDATED JAN. 15, 2016 7:10 AM — FCA’s Response Below) Hang on to your seats — the latest automotive scandal is beginning to erupt, and this one is going to rock the automotive industry. The news broke yesterday that the Napleton Automotive Group filed a lawsuit in a federal court in Illinois… Continue Reading

Two Luxury Dealership Buy-Sells Close Out 2015

Two Luxury Dealership Buy-Sells Close Out 2015

January 11, 2016 — Acquisitions of an Audi dealership in Austin, TX and a Mercedes Benz store in Freehold, NJ closed out 2015 in what was a record year for dealership buy-sells. Approximately 470 dealerships changed hands according to data compiled by The Banks Report which will be published in the TBR 2015 Dealership Buy-Sell Report…

This content is for subscribers only.
Log In Subscribe
Volkswagen Lawsuit Fines Far More Than $18 Billion

Volkswagen Lawsuit Fines Far More Than $18 Billion

January 5, 2016 — Judging from the lawsuit filed by the Department of Justice on behalf of the Environmental Protection Agency against Volkswagen, Porsche and Audi yesterday, it could be several months before the German automaker begins digging out from the mess its cheating on emissions standards created. The lawsuit could be particularly bad for dealers…

This content is for subscribers only.
Log In Subscribe
Volkswagen News Mixed for U.S. Dealers

Volkswagen News Mixed for U.S. Dealers

December 10, 2015 — Volkswagen executives today presented a far more favorable picture of the automaker this morning during an early press conference than could have been envisioned a few weeks ago. But the situation in the U.S. remains more murky as Volkswagen waits for guidance from U.S regulatory officials on whether its proposed fixes…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Volkswagen’s Issues Continue to Grow

December 6, 2015 — Volkswagen’s challenges are showing no signs of letting up and appear to be growing in complexity. Plunging sales, disappearing incentives, VW’s inability to find a fix and questions surrounding management continue to plague the automaker and its dealers. According to a report in the Wall Street Journal, top Volkswagen executives are…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

More Turmoil at Volkswagen

October 15, 2015 — The Volkswagen saga continues as its North American president and CEO Winfried Vahland resigned suddenly yesterday. Vahland, who had been Skoda’s CEO, was appointed to the newly created position in North America as part of the automaker’s scrambling to deal with its growing diesel engine scandal. Vahland’s move potentially places Michael Horn,… Continue Reading

Cliff Banks - The Banks Report

Data Access Battle Goes Nuclear

October 12, 2015 — A little more than a week ago, the simmering battle between DMS firms and other automotive retail vendors over data access and integration went nuclear. To be fair, the issue has plagued the automotive retail space for more than 20 years as certain DMS firms have sought to restrict or control third party…

This content is for subscribers only.
Log In Subscribe