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
January 13, 2016 — Volkswagen quickly is becoming a textbook example of how not to manage a PR crisis. This week — during the North American International Auto Show in Detroit, arguably the industry’s biggest stage — the bad news just keeps coming at the German automaker. What’s troubling is that Volkswagen is showing no ability to… Continue Reading
January 11, 2016 — The CES hype fest from Las Vegas last week is over. Just scanning the headlines, one would think none of will be owning or driving vehicles in the next couple of years. The reality, however, is that the cars are still the stars and will likely drive record attendance this year… Continue Reading
January 6, 2015 — Better check your portfolios if you are holding shares in any of the publicly traded dealer groups. stock prices have plunged for each of the seven automotive dealer groups following Monday’s overall market selloff (due to concerns about China), yesterday’s report of softer than expected December sales along with remarks made…
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…
December 21, 2015 — Mercedes Benz today announced that Dietmar Exler will replace Steve Cannon as president and CEO of MBUSA and NAFTA on January 1. Cannon, who has served as MBUSA chief since December 2011, is leaving to head business operations for the AMB Group, Arthur Blanks’ companies including the Atlanta Falcons and the… Continue Reading
December 16, 2015 — Ending several weeks of speculation, The Banks Report has learned that FordDirect’s CEO Stacey Coopes is leaving the company as soon as today following a recent vote by the company’s board of directors. Insiders tell TBR the move raises questions about FordDirect’s future over the next several months. Differences in philosophy… Continue Reading
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…
December 8, 2015 — If you haven’t been paying attention to French politics recently, an intriguing battle is brewing for control of the Renault-Nissan Alliance. A vote by the alliance’s board that likely will determine its future is scheduled for December 11. The background is complicated. In a move to protect jobs and its ability to…
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…