April 27, 2015 — So far this year, there have been nine (updated from eight) acquisitions in the automotive retail vendor space, the latest deal being completed today by Reynolds and Reynolds. Today’s deal comes on the heels of last week’s announcement that Solera Holdings had acquired DME Automotive. Meanwhile, we know of at least another three deals…
April 25, 2015 — This week, Gannett Co. announced the new name of the digital and broadcast company that will be created as part of the split with its newspaper business. The split should be completed sometime in the late second quarter or third quarter of this year. Meanwhile, the move likely will position Cars.com as a significant…
February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…
February 13, 2015 — In a lawsuit you don’t see every day, Hyundai is suing a Chevrolet store for importing parts and selling them to its dealers in the U.S. Meanwhile, Subaru filed a lawsuit against one of its California dealers for falsifying customer service surveys. Wonder how long before that store is on the…
February 4, 2015 — Felix Sabates Closes Bentley Store; Number of Stores & Average Sales Up in 2014; Mike Sullivan, Barry Switzer Acquire Primeaux Kia in Tulsa Felix Sabates Closes Bentley Store Felix Sabates, has closed the Bentley dealership in Charlotte that he opened in November 2013. Sabates is a partner in several stores with Terry Taylor and…
January 29, 2015 — Group 1 & Prestige Reach Settlement; FCA’s Impressive 2014; W.P. Carey expands into U.K. with $350 Million Deal; Jim Ellis Sells VW Store/ Group 1 Automotive and Prestige Imports Reach Settlement Group 1 Automotive’s pending acquisition of the nation’s top selling Audi dealership took a step closer to completion yesterday following…
January 28, 2015 — Fort Walton Beach Stores Sold for $80 Million; Penske Buys Land Rover Dealership; Texans Find Ohio to be Tough; Oregon Dealer Dies; It’s Huge — and Not in a Good Way; Mac Haik Acquires Nissan Store Fort Walton Beach Stores Sold for $80 Million In a deal we reported on two weeks ago, Texas-based…
January 15, 2015 — It’s time for some perspective now that some of the dust has settled from Elon Musk’s explosive appearance in Detroit on Tuesday during which he managed to casually drop at least three bombshells about Tesla. When he first got on stage at the Automotive News World Congress, Tesla’s founder and CEO appeared…
January 14, 2015 — In today’s TBR Daily Report: IHS’ shares jump on strong fourth quarter; Former GM, Partner in Alex Rodriguez Mercedes to Buy Florida Luxury Group; Volvo to import cars from China IHS Reports Strong 4th Quarter We include IHS in our coverage because it is the parent company of R. L. Polk…
January 13, 2015 — The Banks Report began a new feature this week for subscribers — The TBR Daily Report, which provides short clips of analysis and news you may have missed. In today’s TBR Daily Report:: Chinese online firm BitAuto’s shares plunge; Volkswagen to add 100 dealerships; Washington, IA dealership bankrupt. AutoTrader’s Bitauto Gets…