Cliff Banks - The Banks Report

BMW Inflating Sales Again?

TBR has talked to several BMW dealers the last two weeks who say that BMW has been exerting significant pressure on them to engage in a practice commonly known as “punching” sales. According to the dealers, BMW zone officials have been offering anywhere from $1,000 to $3,500 in some cases, to count vehicles as sold,…

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Cliff Banks - The Banks Report

Napleton vs. Jaguar – Another Right of First Refusal Lawsuit

Longtime Illinois dealer Ed Napleton is suing Florida attorney and New York dealer Manuel Kadre; Jaguar Land Rover North America; the Long Island Automotive Group, MMS-HM and their owners, the Marubeni America Corp. It’s another lawsuit resulting from a manufacturer’s exercise of the right of first refusal in which they nix one buyer and bring… Continue Reading

Cliff Banks - The Banks Report

Dealers & Tesla – Political Horse Trading in Jersey?

When the New Jersey Assembly voted last week overwhelmingly to allow Tesla to sell its vehicles directly to consumers it looked like the Jim Appleton led dealer-association had their rear ends handed to them. There had to be more to this story. There is no way New Jersey’s assembly votes 77-0 against the dealers unless Appleton…

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Cliff Banks - The Banks Report

Buyer Beware – Right of First Refusal on the Rise

A couple of days ago, on April 30, Southern Motors Chevrolet filed a lawsuit against General Motors for blocking its purchase of Fuller Chevrolet, located in Rincon, GA. According to dealers and individuals who broker dealership acquisitions one of the more under-reported dynamics of the dealership buy-sell field is the growing willingness on the part…

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Cliff Banks - The Banks Report

Volvo — A Brand Stuck in Quicksand?

November 11, 2013 — As part of our Brands in Transition series, we take a look at Volvo this week, a once-storied brand that has never recovered from the downturn of 2009-2010. Zhejiang Geely Holding Group Co. bought the Swedish automaker for $1.8 billion in 2010 from Ford Motor Co. Since then, the brand has…

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