September 18, 2015 — In the first 18 days of September, there have been at least 20 dealerships that have changed hands, bringing the annual total to 342, far surpassing 2014’s 324 total. September’s hot pace has been fueled by two deals this week — Napleton Automotive Group’s purchase of a six store-group in Illinois and… Continue Reading
September 18, 2015 — Why you need corporate security; Changes in car buying; Preparing for normalization; Why you’ll never buy a driverless vehicle; OEMs slack approach to cyber security; Co-op money – what’s it good for? Hyundai’s future dealership. The TBR Weekly Top 10 is our list of what we believe are the week’s must-read stories… Continue Reading
September 17, 2015 — Reynolds and Reynolds announced today that its European operations has acquired Contact Advantage, a U.K.-based CRM provider with showroom, F&I and lead management solutions. The company just launched a group of several mobile applications designed to let the dealership manage the customer throughout the entire purchase process using an i-Pad. Contact Advantage… Continue Reading
September 14, 2015 — Late last night, private equity firm Vista Equity Partners agreed to acquire Solera Holdings in a $6.5 billion deal including $3.74 billion cash along with Solera’s leveraged debt. The move is automotive retail’s largest acquisition for now. Rumors continue to persist on Wall Street that CDK Global will be acquired in… Continue Reading
September 14, 2015 — (We updated this story on September 18). It was a busy late Sunday evening/Monday morning as news broke last night that TrueCar President John Krafcik has left the company to lead Google’s autonomous vehicle efforts. Krafcik is the biggest name hired by either Google or Apple for their autonomous vehicle programs. He… Continue Reading
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
September 9, 2015 — A few weeks ago, AutoNation took the bold step of putting a stop on all sales of vehicles in it inventory that have open recalls. The move includes all new and used vehicles — including ones slated for wholesale. AutoNation estimates it will affect between 5% to 10% of its overall inventory… Continue Reading
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
September 4, 2015 – Confirming what The Banks Report reported on May 27, TrueCar announced earlier this week it is partnering with Sam’s Club in the creation of a new car buying program. At least 12 automakers will participate in the Auto Buying Program, giving specific incentives to Sam’s Club members. Customers buying used vehicles through the… Continue Reading
September 2, 2015 — Defying analysts predictions of fewer sales in August, the auto industry responded to a volatile and crashing stock market with a 17.72 million (according to WardsAuto) Seasonally Adjusted Annual Rate (SAAR) — the best month since the 17.5 million posted in July 2005. It’s the fourth straight month the SAAR has… Continue Reading