Cliff Banks - The Banks Report

NADA Closing in on CFPB Victory? Not Quite, But Closer Than Ever

September 9, 2015 — In late July, following a sometimes bitter debate, the House Financial Services Committee cleared the way for legislation repealing the Consumer Financial Protection Bureau’s 2103 bulletin governing automotive lending. The move is a victory for The National Automobile Dealers Assn. which has lobbied vigorously the last two years to build bi-partisan… Continue Reading

Cliff Banks - The Banks Report

Urban Science Acquires AutoHook

September 10, 2015 — Urban Science has acquired AutoHook from HookLogic in a play to expand its online lead management services for automakers and dealers. Urban Science, long known for helping manufacturers plan their retail networks as they determine where to place dealerships, also acts as a traffic cop in the online lead space, gathering leads from automaker and third party… Continue Reading

Cliff Banks - The Banks Report

“Punching” Sales Practice Under Fire from Maserati Dealer

September 3, 2015 — Last Friday, Stuart Hayim, owner of Recovery Racing, a group that owns Maserati and other luxury franchises in New York, New Jersey and Florida, filed a $200 million lawsuit against Maserati North America alleging the automaker forced dealers to participate in discriminatory incentive and sales programs designed to prop up sales numbers… Continue Reading

Average Throughput on Pace for Record Says Urban Science

Average Throughput on Pace for Record Says Urban Science

August 25, 2015 — As automotive sales continue to increase, the average sales per dealership — or throughput, to use industry vernacular — is on its way to a fourth consecutive annual record according to Urban Science’s 2015 midyear Automotive Franchise Activity Report. The report projects that throughput will hit approximately 945 new vehicle sales per… Continue Reading

Cliff Banks - The Banks Report

NADA’s Dealer Attitude Survey – Stating the Obvious

August 24, 2015 — The National Automobile Dealers Association surveys its members twice a year on their perception of their manufacturers. The folks at NADA would prefer the results of its Dealer Attitude Survey not make its way into the media, but the enterprising reporters at Automotive News (way to go Lindsay Chappell) got their hands on… Continue Reading

Cliff Banks - The Banks Report

Like Honda, Toyota to Ban Below Invoice Advertising

August 23, 2015 — Like Honda, Toyota to Ban Below Invoice Advertising Confirming what we’ve been hearing for several weeks now, Automotive News is reporting that Toyota will inform its dealers next month that it will begin to prohibit its dealers from advertising below invoice pricing for its vehicles. The move, which is expected to… Continue Reading