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

Cliff Banks - The Banks Report

Dealertrack to Sell Inventory Solution to Dealersocket

August 20, 2015 — Dealertrack informed its employees this morning (and announced in a press release) that it is selling its suite of Inventory+ solutions (formerly AAX) to Dealersocket for $55 million in cash. The announcement likely means Cox Automotive’s pending $4 billion acquisition of Dealertrack is nearing commpletion. In-depth analysis of vendor activity in… Continue Reading

AutoNation Acquires 16 Stores

AutoNation Acquires 16 Stores

August 18, 2015 — AutoNation announced this morning its biggest acquisition by revenue since 2001. The nation’s largest dealer group is acquiring 16 dealerships — 13 from Carl Gregory Enterprises and three stores owned by the Valley Motors Auto Group. Combined, the stores generated more than $600 million in revenue in 2014 on nearly 20,000 new and used…

This content is for subscribers only.
Log In Subscribe
Spireon’s Inilex Play Positions It for Future Acquisition

Spireon’s Inilex Play Positions It for Future Acquisition

August 3, 2015 — Two weeks ago, Spireon, backed by private equity firm Bertram Capital, announced the acquisition of privately-held Inilex, a leading GPS recovery solutions provider for an undisclosed sum. The Spireon name probably isn’t familiar to many in the automotive retail space, but it will be soon as the deal could be an intriguing play with significant…

This content is for subscribers only.
Log In Subscribe
Investor Sues to Stop Dealertrack Acquisition

Investor Sues to Stop Dealertrack Acquisition

July 7, 2015 — An investor in Dealertrack filed a lawsuit yesterday afternoon seeking to stop Cox Enterprise’s $4 billion acquisition of the Long Island, NY-based technology firm contending the deal prohibits investors from participating in Dealertrack’s projected growth while providing executives with golden parachutes. The suit claims the agreement is the “culmination of a…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Cars.com’s New Owner Goes Public

June 29, 2015 — Over the next several months, we believe the automotive industry will see a more aggressive Cars.com at play in the acquisitions market as its parent company, the newly minted Tegna begins trading on the New York Stock Exchange under the symbol TGNA this morning. Gannett Co., the giant newspaper publishing and…

This content is for subscribers only.
Log In Subscribe