Cox Automotive Acquires Clutch Technologies; Creates Mobility Solutions Division

Cox Automotive Acquires Clutch Technologies; Creates Mobility Solutions Division

August 13, 2018 — Cox Automotive is announcing early Monday morning it has acquired vehicle subscription start up Clutch Technologies as part of the creation of its new Mobility Solutions Division. The moves are part of a restructuring that includes an ongoing intensive review of where its 34 brands and investments fit in its overall…

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CDK Global to Integrate Lyft Concierge into Fortellis Platform

CDK Global to Integrate Lyft Concierge into Fortellis Platform

August 12, 2018 — Sources have confirmed CDK Global will announce Monday morning it is partnering with ride hailing company Lyft to provide a transportation solution for dealership service departments to integrate into their loaner fleet programs. Lyft Business’ Concierge dispatch solution — already being used by approximately 300 dealerships — will be integrated into… Continue Reading

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