Uber and Fair Enter Into Strategic Partnership

Uber and Fair Enter Into Strategic Partnership

January 30, 2018 — Fair announced this morning a strategic partnership with Uber along with the acquisition of the lease portfolio of the ride-hailing firm’s XChange Leasing program. As part of the agreement, Fair will become Uber’s exclusive U.S.leasing partner for drivers leasing vehicles for a month or longer. Financial terms of the acquisition were… Continue Reading

AutoNation’s Mike Jackson Named Chairman of Atlanta Federal Reserve Board

AutoNation’s Mike Jackson Named Chairman of Atlanta Federal Reserve Board

January 10, 2018 — AutoNation Chairman and CEO Mike Jackson has been appointed to serve as chairman of Atlanta’s Federal Reserve board for a one-year term that started January 1. Jackson, who previously was deputy chairman, will head Atlanta’s nine-member board that is responsible for the district encompassing Florida, Alabama, Georgia and areas of Mississippi, Tennessee… Continue Reading

Cliff Banks - The Banks Report

Spireon Shows Vehicle Subscription Concept

January 10, 2018 — Spireon Inc. is demonstrating a vehicle subscription concept it is dubbing Drive On Demand at the International Consumers Electronics Show in Las Vegas this week. Calling it a Mobility as a Service (MaaS) technology, the company says the new solution will allow new car dealers to select specific vehicles in their… Continue Reading

Asbury Acquisition Highlights Growing Trend of Move into Midwest

Asbury Acquisition Highlights Growing Trend of Move into Midwest

January 9, 2018 — The Asbury Automotive Group acquired Terry Lee Honda in Avon, IN this week and renamed it Hare Honda. The acquisition follows Asbury’s purchase of Hare Chevrolet in Noblesville, IN in 2017. The two acquisitions indicate Asbury, the country’s seventh largest dealer group with more than $6.5 billion in annual revenue and… Continue Reading

Cliff Banks - The Banks Report

The Banks Report’s AUTOVATE 2017 Features Early Stage Startups Designed for the Next Generation of Automotive Retail

DETROIT, Nov. 20, 2017 /PRNewswire/ — AUTOVATE 2017, created by The Banks Report and hosted by CarStory, will feature seven early stage startup companies during its debut event Dec. 7-8, in Austin, TX.  The Startup Showcase will allow attendees to learn more about these breakthrough technologies through presentations and panel discussions with industry experts.  “We created AUTOVATE to bring together the influencers and… Continue Reading

The Banks Report Introduces AUTOVATE 2017

The Banks Report Introduces AUTOVATE 2017

DETROIT, Nov. 14, 2017 /PRNewswire/ — Debuting Dec. 7-8 in Austin, TX, is AUTOVATE 2017, a unique event for dealer executives, investors, entrepreneurs and auto manufacturers. Created by The Banks Report and hosted by CarStory, AUTOVATE will focus on advanced technology solutions driving the automotive retail industry forward, including the innovators behind the solutions, decision-making dealer executives, and investors funding growth in the industry. “AUTOVATE is a… Continue Reading

Kia Expands AI Shopping Tool With New Chatbot

Kia Expands AI Shopping Tool With New Chatbot

November 21, 2017 —  Kia Motors introduced “Kian” this week, an extension of its chatbot NiroBot, which launched last year during the Super Bowl. Kian is an artificial intelligence-powered virtual assistant designed to help shoppers wade through the data stacks of information in the car buying process – from pricing, payments, special offers, vehicle images, competition,… Continue Reading

Cliff Banks - The Banks Report

CallRevu Names Serent Capital as New Investment Partner

November 16, 2017 — CallRevu, a dealership call management software firm founded by Chip King and David Boice in 2010, will announce later today that it has entered into an investment relationship with Serent Capital. As part of the investment in CallRevu, Serent is acquiring the interest held by marketing agency Team Velocity, which is… Continue Reading