Public Dealer Stocks on a Tear

Public Dealer Stocks on a Tear

July 25, 2019 — Public dealer stocks have jumped an average of more than $5 over the last two days fueled by stronger-than-expected second-quarter earnings from AutoNation and Lithia Motors. The run began with AutoNation’s second-quarter earnings release on Tuesday in which it reported a record $1.12 earnings-per-share exceeding analysts expectations. The nation’s largest dealer…

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Not the First Choice, but Miller is the Right Choice for AutoNation

Not the First Choice, but Miller is the Right Choice for AutoNation

July 23, 2019 — Late yesterday afternoon, AutoNation announced long-time CFO and vice president Cheryl Miller as its new CEO and president. She’s replacing Carl Liebert. On the surface, the change was a shock. Liebert had only assumed the top job at the nation’s top-selling dealer group in March after a months-long search that reportedly…

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Cliff Banks - The Banks Report

Leucadia Becomes Second Large Investment Firm to Exit Dealership Business in 6 Months

April 10, 2018 — Leucadia National Corporation announced yesterday it is selling its equity and real estate interests in dealer group Garcardia to the Garff family, its partners in the joint venture that began in 2006. Leucadia, a publicly traded holding company (LUK – NYSE) holds a 75% interest in Garcadia, which includes 28 dealerships…

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TBR 2017 Report on Dealership Buy Sell Activity

TBR 2017 Report on Dealership Buy Sell Activity

March 6, 2018 — Despite industry perception that dealership consolidation is on the rise, buy-sell activity of U.S.-based stores declined in 2017 for the second consecutive year, based on data compiled by The Banks Report. Even with the downward trend the last two years, the buy-sell market has been vibrant since 2013 as the industry… 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

AutoNation Jumps into Autonomous Driving World with Waymo Partnership

AutoNation Jumps into Autonomous Driving World with Waymo Partnership

November 2, 2017 — AutoNation executives aren’t buying into the hype that the autonomous vehicle era threatens auto retailers’ existence. Instead, the nation’s largest dealer group is getting into the self-driving game, announcing a few minutes ago that it is partnering Waymo, Alphabet Inc.’s autonomous driving company, to “offer strategic capabilities to maximize the life… Continue Reading