Cliff Banks - The Banks Report

Tesla Again Revamps Its Retail Strategy

March 11, 2019 — Tesla’s strategy of closing its retail network apparently is a work in progress. After shutting down 10% of its retail locations the last couple of weeks, Tesla announced on its blog last night that it has stopped the process and will evaluate another 20% of its sales locations in coming months.… Continue Reading

Cliff Banks - The Banks Report

Fair to Go Global with SoftBank Investment

December 20, 2018 — Fueled by a $385 million Series B investment led by SoftBank, vehicle subscription platform Fair is going global. After officially launching in August 2017, Fair is now in 26 U.S. markets with nearly 52,000 vehicles from 3,200 dealerships available on its mobile app. More than 20,000 consumers have used the platform… Continue Reading

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

October 23, 2018 — Reynolds and Reynolds and CDK Global and their joint venture Computer Vehicle Registration (CVR) failed in their fourth attempt to dismiss the lawsuits alleging they engaged in several antitrust activities. Late Monday, Judge Robert Dowd in Illinois’ Northern District denied the defendant’s motions to dismiss the lawsuits filed by Motor Vehicle… Continue Reading

Cliff Banks - The Banks Report

Lyft’s RideShare Services Integrated into RedCap’s Transportation Platform

October 11. 2018 — While Lyft executives continue to predict the end of private ownership, the rideshare company is expanding its business into dealerships. It’s latest foray is with RedCap Technologies, which today announced the launch of a new courtesy shuttle solution leveraging Lyft’s Concierge API platform. RedCap, which was acquired by Solera Holdings earlier… Continue Reading