Cliff Banks - The Banks Report

TBR 2019 3rd Quarter Vendor M&A Report

New Era Taking Shape in Auto Retail Vendor M&A Activity November 1, 2019 — Pivotal. That’s probably the best word to describe vendor mergers and acquisitions and investments among automotive retail vendors in 2019. Aggressive roll-up plays, new directions, and evolving industries forming now will reshape the industry over the next five years. In TBR’s… Continue Reading

Cliff Banks - The Banks Report

AUTOVATE 2019

On December 2nd and 3rd, The Banks Report will hold its third annual AUTOVATE conference in Austin, TX at the Kimpton Van Zandt Hotel. We’ve designed the summit to be a boutique, one-of-a-kind event to help dealer executives, investors, entrepreneurs, and automakers cut through the typical conference hype. We take a unique approach in that… Continue Reading

Cliff Banks - The Banks Report

Chip Perry Retires as CEO of TrueCar

June 3, 2019 — After three and half years at the helm of TrueCar, Chip Perry is stepping down as CEO and president, the company announced today. TrueCar has not named a replacement for Perry, who will continue to consult with the company. Perry, one of the pioneers in the automotive Internet space, founded AutoTrader… Continue Reading

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