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

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