Cliff Banks - The Banks Report

The Banks Report’s AUTOVATE 2017 Features Early Stage Startups Designed for the Next Generation of Automotive Retail

DETROIT, Nov. 20, 2017 /PRNewswire/ — AUTOVATE 2017, created by The Banks Report and hosted by CarStory, will feature seven early stage startup companies during its debut event Dec. 7-8, in Austin, TX.  The Startup Showcase will allow attendees to learn more about these breakthrough technologies through presentations and panel discussions with industry experts.  “We created AUTOVATE to bring together the influencers and… Continue Reading

The Banks Report Introduces AUTOVATE 2017

The Banks Report Introduces AUTOVATE 2017

DETROIT, Nov. 14, 2017 /PRNewswire/ — Debuting Dec. 7-8 in Austin, TX, is AUTOVATE 2017, a unique event for dealer executives, investors, entrepreneurs and auto manufacturers. Created by The Banks Report and hosted by CarStory, AUTOVATE will focus on advanced technology solutions driving the automotive retail industry forward, including the innovators behind the solutions, decision-making dealer executives, and investors funding growth in the industry. “AUTOVATE is a… Continue Reading

Kia Expands AI Shopping Tool With New Chatbot

Kia Expands AI Shopping Tool With New Chatbot

November 21, 2017 —  Kia Motors introduced “Kian” this week, an extension of its chatbot NiroBot, which launched last year during the Super Bowl. Kian is an artificial intelligence-powered virtual assistant designed to help shoppers wade through the data stacks of information in the car buying process – from pricing, payments, special offers, vehicle images, competition,… Continue Reading

Cliff Banks - The Banks Report

CallRevu Names Serent Capital as New Investment Partner

November 16, 2017 — CallRevu, a dealership call management software firm founded by Chip King and David Boice in 2010, will announce later today that it has entered into an investment relationship with Serent Capital. As part of the investment in CallRevu, Serent is acquiring the interest held by marketing agency Team Velocity, which is… Continue Reading

Injunction Vacated in Reynolds, CDK Antitrust Case

Injunction Vacated in Reynolds, CDK Antitrust Case

November 7, 2017 — Score this as a big win for Reynolds and Reynolds and CDK Global in the antitrust lawsuit filed against them by Authenticom. Late yesterday, the United States Court of Appeals for the Seventh Circuit out of Chicago vacated the preliminary injunction the lower district court in Wisconsin had awarded Authenticom in…

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Cliff Banks - The Banks Report

Primus Capital Invests in FusionZone

November 1, 2017 — Today’s announcement that private equity firm Primus Capital completed an investment in fusionZONE Automotive indicates the second tier of dealership website and digital marketing firms is gaining traction on the two giants in the space — Dealer.com and CDK Global. Terms of the deal were not disclosed but Primus generally keeps… Continue Reading

Cliff Banks - The Banks Report

CDK Acquires Reporting Firm Dashboard Dealer Enterprises

October 28, 2017 — CDK Global acquired enterprise reporting company Dashboard Dealership Enterprises (“DDE”), the company announced this week. The integration of DDE’s flagship product, Executive Eye, into the CDK platform will help CDK customers better measure their efficiency and profitability, the company says. As part of the acquisition, DDE CEO Josh Blick and COO William… Continue Reading

Cliff Banks - The Banks Report

Team Velocity Acquires Car-Mercial

October 25, 2017 — Team Velocity Marketing scooped up video pre-roll production company, Car-Mercial, the company announced earlier this week. Car-Mercial’s video technology will be integrated into Team Velocity’s marketing automation platform, Apollo.Terms of the deal were not disclosed. With video being the fastest growing consumer medium, Team Velocity believes Car-Mercial’s dynamic video platform will… Continue Reading

Cliff Banks - The Banks Report

Sage Sells Four Dealerships in Southern CA

UPDATED — October, 21, 2017 — Last month, the Trophy Automotive Group completed the purchase of four dealerships that were part of the eight-store Sage Automotive Group in the Los Angeles, CA area. Trophy, which was started by Nasser Watar in 2014 with the acquisition of Mercedes Benz of Encino, acquired Glendale Nissan, Universal City… Continue Reading