May 7, 2015 — Audi is testing different car sharing models throughout various international markets, the latest being piloted in the U.S. The Banks Report first reported on March 26, 2014 that Audi was putting together a pilot program in San Francisco similar to its Audi Select initiative in Berlin that allows people to pay a monthly…
March 17, 2015 — Yesterday’s overwhelming vote by New Jersey’s state Senate (30 – 2) to allow Tesla to sell directly to consumers, appears, on the surface, to be a political loss for the state’s car dealers. The reality, though, is far different. It’s definitely a win for Tesla in that it gets to sell its vehicles… Continue Reading
February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…
February 13, 2015 — In a lawsuit you don’t see every day, Hyundai is suing a Chevrolet store for importing parts and selling them to its dealers in the U.S. Meanwhile, Subaru filed a lawsuit against one of its California dealers for falsifying customer service surveys. Wonder how long before that store is on the…
February 12, 2014 — Right now, it’s a simple share buyback plan that would be-activist investor Harry Wilson is trying to foist upon General Motors. But does the former architect of President Obama’s automotive bailout plan have other plans in mind also? If so, it could be bad news for General Motors dealers. This week, Harry…
January 29, 2015 — Group 1 & Prestige Reach Settlement; FCA’s Impressive 2014; W.P. Carey expands into U.K. with $350 Million Deal; Jim Ellis Sells VW Store/ Group 1 Automotive and Prestige Imports Reach Settlement Group 1 Automotive’s pending acquisition of the nation’s top selling Audi dealership took a step closer to completion yesterday following…
January 15, 2015 — It’s time for some perspective now that some of the dust has settled from Elon Musk’s explosive appearance in Detroit on Tuesday during which he managed to casually drop at least three bombshells about Tesla. When he first got on stage at the Automotive News World Congress, Tesla’s founder and CEO appeared…
January 13, 2015 — The Banks Report began a new feature this week for subscribers — The TBR Daily Report, which provides short clips of analysis and news you may have missed. In today’s TBR Daily Report:: Chinese online firm BitAuto’s shares plunge; Volkswagen to add 100 dealerships; Washington, IA dealership bankrupt. AutoTrader’s Bitauto Gets…
January 11, 2015 — The auto show in Detroit hasn’t yet officially begun, but we already have what likely will be the event’s biggest story — the suddenly heated battle between General Motors and Tesla for dominance over the electric vehicle segment. Tomorrow morning’s unveiling of GM’s concept of its new electric vehicle, dubbed the Bolt —… Continue Reading
January 1, 2015 — China’s car dealers’ inventory battle with automakers shows the need for strong franchise laws. Also, what do the current challenges in the Chinese automotive market mean for the U.S. and the potential entry by players such as Volvo’s parent Geely or the Warren Buffett-backed BYD Auto? The recent spate of stories highlighting…