Review of Online Vehicle Transaction Models

Review of Online Vehicle Transaction Models

January 25, 2018 — The Banks Report research has found 21 companies that offer some type of online vehicle transaction solution. In the last four years, companies offering such solutions have exploded onto the scene attracting more than $1 billion in investment money — more than $200 million since July (Not including Fair’s $1 billion… Continue Reading

Review of Flexible Vehicle Ownership Models

Review of Flexible Vehicle Ownership Models

January 24, 2018 — Over the last several months, numerous automakers and dealers have launched flexible ownership models creating a new means of interacting with customers beyond the typical loan or lease. The question is whether flexible ownership and vehicle subscriptions will move beyond being a novel and cool idea to becoming an accepted method of…

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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

LiDAR Technology and Automotive Retail

LiDAR Technology and Automotive Retail

January 8, 2018 — As 2017 came to a close, two seemingly innocuous announcements hint at the pending impact LiDAR technology may have on automotive retail in the near future. First was AutoNation’s agreement with Waymo to provide maintenance and repair services to its fleet of self driving vehcles. And second was  an under-the-radar press release…

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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

Lutz Predicts End of Automotive in 20 Years, Do the Math, It Ain’t Happening

Lutz Predicts End of Automotive in 20 Years, Do the Math, It Ain’t Happening

November 6th, 2017 — “The era of the human-driven automobile, its repair facilities, its dealerships, the media surrounding it — all will be gone in 20 years.” So wrote automotive extraordinaire Bob Lutz yesterday for Automotive News as part of its Redesigning the Industry series. Lutz, who is in his mid-eighties, has a rich history… 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

VC Firms Like Online Transaction Apps in Auto Retail

VC Firms Like Online Transaction Apps in Auto Retail

August 24, 2017 —  (Originally published on LinkedIn) Since July, venture capital firms have invested $159.2 million into the automotive retail industry. And all of the capital is going into five companies whose solutions focus on online transactions. Overall, there have been 20 total deals since January in the industry — eight investments, 10 acquisitions… Continue Reading