Cliff Banks - The Banks Report

Short Term Overview of the Automotive Retail Space

The automotive retail sector is on the cusp of true transformational change.  Since 1995, when Seattle dealer Marty Rood sold the first vehicle online – a gold Volvo 760 – through a service called DealerNet, the Internet and its surrounding technology has pushed customers, dealers, vendors and automakers closer to an era where real digital…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Mid-Size Sedan Market Feeling the Pressure

September 15, 2014 — Automotive sales in August far exceeded everyone’s expectations leading to concern that automakers were again relying on aggressive incentives rather than true demand juice showroom traffic. The truth lies somewhere in the middle — but could have far reaching implications for the short term future of  certain market segments, and even,…

This content is for subscribers only.
Log In Subscribe
Capital Automotive Sells for $4.3 Billion

Capital Automotive Sells for $4.3 Billion

August 28, 2014 — Capital Automotive LP, a power broker in the dealership acquisition market, announced today it has been sold to Brookfield Property Partners for $4.283 billion. Based in McLean, VA, Capital Automotive has more than $3.5 billion invested in more than 450 dealerships spread across 37 states. The company provides financing to dealerships looking to…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Buyers & Sellers Both Hurt by Right of First Refusal

UPDATED — At least ten (updated from eight) cases of manufacturers using the Right of First Refusal since January 2013, including at least three lawsuits, shows dealers wanting to sell their stores and the dealers hoping to acquire need to do their homework up front to know whether it will be an issue. Since we first reported…

This content is for subscribers only.
Log In Subscribe
Gannett’s Buy of Cars.com Pushes 2014 to Record Yr for Acquisitions in Automotive Retail

Gannett’s Buy of Cars.com Pushes 2014 to Record Yr for Acquisitions in Automotive Retail

Confirming rumors that have persisted since April, Gannett Co. announced this morning that it is paying $1.8 billion to its four partners to acquire the portion of Cars.com it does not already own. Cars.com is owned by Classified Ventures, which is a joint venture between Gannett, A.H Belo Corp., Graham Holdings Co., Tribune Media and McClatchy. Gannett…

This content is for subscribers only.
Log In Subscribe
The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

The Banks Report 2014 Mid-Year Dealership Buy-Sell Update

OVERVIEW Through the first six months of 2014, 125 dealerships changed ownership, up from 89 through the same period in 2013 according to data compiled by The Banks Report. Eighty-three different buyers accounted for the 125 acquisitions. Note: The 125 does not include the 27 stores Lithia Motors will gain when it closes on its…

This content is for subscribers only.
Log In Subscribe