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

Brutal Morning for Dealer Group Shares

Brutal Morning for Dealer Group Shares

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…

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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…

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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…

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Renault-Nissan Alliance Threatened

Renault-Nissan Alliance Threatened

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…

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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…

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