Cliff Banks - The Banks Report

Hyundai Buying FCA? We Have Questions

July 2, 2018 — Late last week, the financial newsletter Capitol Intelligence Group reported Hyundai Motor Group’s CEO Chung Mong-koo is preparing a possible takeover of Fiat Chrysler Automobiles sometime before the Italian automaker’s annual shareholder meeting scheduled for May 2019. A Hyundai spokesman later called the reports “groundless” according to a report by CNET’s RoadShow.…

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Cliff Banks - The Banks Report

Audi CEO Arrested

January 18, 2018 — Audi CEO and head of Volkswagen group sales Rupert Stadler was arrested earlier this morning as part of the ongoing diesel scandal that has roiled parent company The Volkswagen Group since 2015. According to various media reports, German officials arrested Stadler at his home early Monday morning on concerns he might… Continue Reading

Cliff Banks - The Banks Report

Cars.com for Sale? Probably Not

May 31, 2018 — A late report in the New York Post yesterday afternoon claiming Cars.com is for sale pushed the company’s stock up more than 4% in after hours trading. The only problem is, the story, which was picked up in numerous media outlets, likely isn’t true. The story also reported the Cars.com had… Continue Reading

Cliff Banks - The Banks Report

Chanos on Musk – “No Extradition Treaty with Mars”

April 26, 2018 — Harsh comments from Jim Chanos, founder and managing partner of Kynikos Associates, this morning on CNBC’s Squawk Box about Elon Musk and Tesla. His firm, well-known for its short-selling investment strategy, has been short on Tesla for four years. Chanos brings some street cred to the conversation. He was one of the first… Continue Reading

Cliff Banks - The Banks Report

FusionZONE Acquires Seattle-based MotorWebs

April 4, 2018 — Acquisition activity in the dealer website world suddenly has become hot with the third deal since last November. This afternoon, fusionZONE Automotive LLC announced it is acquiring competitor MotorWebs Inc. The acquisition is the 18th automotive retail vendor deal this year and follows Primus Capital’s majority investment into fusionZONE last November.… Continue Reading

TBR 2017 Report on Dealership Buy Sell Activity

TBR 2017 Report on Dealership Buy Sell Activity

March 6, 2018 — Despite industry perception that dealership consolidation is on the rise, buy-sell activity of U.S.-based stores declined in 2017 for the second consecutive year, based on data compiled by The Banks Report. Even with the downward trend the last two years, the buy-sell market has been vibrant since 2013 as the industry…

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