October 11. 2018 — While Lyft executives continue to predict the end of private ownership, the rideshare company is expanding its business into dealerships. It’s latest foray is with RedCap Technologies, which today announced the launch of a new courtesy shuttle solution leveraging Lyft’s Concierge API platform. RedCap, which was acquired by Solera Holdings earlier… Continue Reading
September 19, 2018 — After nearly 20 years at the helm of the nation’s largest dealer group, the AutoNation Mike Jackson joined in October 1999 strategically is not much different than the one he will step away from in the next few months. Jackson, 69 years old, announced earlier this morning he will step aside… Continue Reading
August 13, 2018 — Cox Automotive is announcing early Monday morning it has acquired vehicle subscription startup Clutch Technologies as part of the creation of its new Mobility Solutions Division. The moves are part of a restructuring that includes an ongoing intensive review of where its 34 brands and investments fit in its overall strategy…
August 12, 2018 — Sources have confirmed CDK Global will announce Monday morning it is partnering with ride hailing company Lyft to provide a transportation solution for dealership service departments to integrate into their loaner fleet programs. Lyft Business’ Concierge dispatch solution — already being used by approximately 300 dealerships — will be integrated into… Continue Reading
July 2, 2018 — Late last week, the financial newsletter Capitol Intelligence Group reported Hyundai Motor Group’s CEO Chung Mong-koo is preparing a possible takeover of Fiat Chrysler Automobiles sometime before the Italian automaker’s annual shareholder meeting scheduled for May 2019. A Hyundai spokesman later called the reports “groundless” according to a report by CNET’s RoadShow.…
June 22, 2018 — Carmax shares are up nearly 10% and more than $6.60 in pre-market trading this morning after being down $1.72 yesterday. The jump this morning is being fueled by a strong first (fiscal) quarter in which Carmax’s earnings per share of $1.33 beat expectations by $0.09 and overall revenue of $4.79 billion… Continue Reading
January 18, 2018 — Audi CEO and head of Volkswagen group sales Rupert Stadler was arrested earlier this morning as part of the ongoing diesel scandal that has roiled parent company The Volkswagen Group since 2015. According to various media reports, German officials arrested Stadler at his home early Monday morning on concerns he might… Continue Reading
May 31, 2018 — A late report in the New York Post yesterday afternoon claiming Cars.com is for sale pushed the company’s stock up more than 4% in after hours trading. The only problem is, the story, which was picked up in numerous media outlets, likely isn’t true. The story also reported the Cars.com had… Continue Reading
As automakers begin flooding the market with electric vehicles (EV) the next couple of years, a key question yet to be answered is just how much tax credits drive demand for a segment that makes up 1% of the new car market. For Tesla and General Motors, the question is critical because both automakers are… Continue Reading
April 26, 2018 — Harsh comments from Jim Chanos, founder and managing partner of Kynikos Associates, this morning on CNBC’s Squawk Box about Elon Musk and Tesla. His firm, well-known for its short-selling investment strategy, has been short on Tesla for four years. Chanos brings some street cred to the conversation. He was one of the first… Continue Reading