July 18, 2016 — In a meeting with dealers on Friday, Volkswagen executives said they would make a decision within the next month regarding compensating its dealers for damages from the diesel emissions scandal. Friday’s event is part of a series of meetings with dealers in which VW executives are outlining how the company plans to… Continue Reading
July 7, 2016 — The automotive retail technology world is dominated by three players today — Cox Automotive, CDK Global, and Reynolds and Reynolds. On the CRM side, the major players are DealerSocket and ELead1One. Meanwhile, Salesforce is hovering around the industry. The question is, will this power structure continue over the next two to… Continue Reading
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…
June 30, 2016 — Today, the National Highway Traffic Safety Administration took the unusual step of warning the public not to drive certain 2001 – 2003 Honda and Acura vehicles, due to the high likelihood of their Takata-made airbag inflators exploding in a crash. The agency says that within laboratory settings, the inflators have a 50% chance… Continue Reading
(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…
June 27, 2016 — Automotive stocks did not escape the carnage Friday as a reported $2.1 trillion was wiped off the books across the world’s stock exchanges following Thursday’s stunning vote by Great Britain to exit the European Union. In the U.S., the Dow Jones plunged 611 points. The selloff in automotive was across the… Continue Reading
June 16, 2016 — Dominating headlines over the last 10 days was Cadillac’s pending move to “encourage” approximately 400 of it smaller franchises to become virtual stores. It’s a story that demands attention — Cadillac moving to virtual reality dealerships. But the reality (not virtual) is, the move likely will have little effect except to ultimately force…
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
Last week’s announcement that Holman Automotive is acquiring the Kuni Automotive Group is significant on numerous levels. The Banks Report, which broke the news of the deal, estimates that it is the biggest dealer acquisition since Warren Buffett’s purchase of the Van Tuyl Automotive Group in March of 2015. So what does the deal mean for…
April 10, 2016 — On Wednesday, Ed Napleton, owner of one of the largest dealer groups in the country, filed a lawsuit against Volkswagen alleging the automaker engaged in criminal racketeering. Napleton owns three Volkswagen dealerships acquiring the Urbana, IL store three days before the diesel emissions scandal exploded in September. Napleton also claims the manufacturer… Continue Reading