Musk Drops Bombshells in Detroit

Musk Drops Bombshells in Detroit

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…

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Cliff Banks - The Banks Report

TBR Daily Report — January 14, 2015

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…

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Cliff Banks - The Banks Report

TBR Daily Report — January 13

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…

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Cliff Banks - The Banks Report

The TBR Daily Report — January 12

January 12, 2015 — We are announcing a new feature for the subscribers of The Banks Report — a daily news wrap of stories you may have missed or you that you may find only on The Banks Report. News of Interest today includes DealerTrack exiting the Canadian market; Toyota Motor Sales and Sirius XM…

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DealerTrack Announces incadea Acquisition

December 18, 2014 — DealerTrack today announced it has acquired the international DMS firm incadea for $190.3 million (about $63 million more than incadea’s market cap) using cash on hand and cash from existing credit facilities. The company was once owned by Reynolds and Reynolds from 2003 to 2007. It’s an important deal — and…

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DealerTrack to go Global?

DealerTrack to go Global?

December 5, 2015 — DealerTrack apparently likes to make surprise announcements in December. Last year, it announced the acquisition of Dealer.com in what turned out to be a $987 million deal. Yesterday, the Long Island-based dealer technology firm confirmed it is in preliminary discussions to make another acquisition and will announce its decision by or on January 1,…

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Texas Teachers Invest in Dealerships

November 24, 2014 — Teachers in Texas apparently like the financial prospects of franchised car dealerships. One of the country’s largest pension funds, the Teachers Retirement System of Texas is investing in Capital Automotive, a firm that provides sale-leaseback capital to car dealers, through an investment fund established by Capital’s parent Brookfield Property Partners. Brookfield…

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