January 19, 2015 — AutoNation announced late last week that its President & COO Mike Maroone is retiring on February 3 and is leaving his board position in April of this year. Mike Jackson, AutoNation’s chairman and chief executive officer will assume the role of company president while Bill Berman, currently vice president of sales, was named… Continue Reading
January 15, 2015 — It’s time for some perspective now that some of the dust has settled from Elon Musk’s explosive appearance in Detroit on Tuesday during which he managed to casually drop at least three bombshells about Tesla. When he first got on stage at the Automotive News World Congress, Tesla’s founder and CEO appeared…
January 14, 2015 — In today’s TBR Daily Report: IHS’ shares jump on strong fourth quarter; Former GM, Partner in Alex Rodriguez Mercedes to Buy Florida Luxury Group; Volvo to import cars from China IHS Reports Strong 4th Quarter We include IHS in our coverage because it is the parent company of R. L. Polk…
January 13, 2015 — The Banks Report began a new feature this week for subscribers — The TBR Daily Report, which provides short clips of analysis and news you may have missed. In today’s TBR Daily Report:: Chinese online firm BitAuto’s shares plunge; Volkswagen to add 100 dealerships; Washington, IA dealership bankrupt. AutoTrader’s Bitauto Gets…
January 12, 2015 — We are announcing a new feature for the subscribers of The Banks Report — a daily news wrap of stories you may have missed or you that you may find only on The Banks Report. News of Interest today includes DealerTrack exiting the Canadian market; Toyota Motor Sales and Sirius XM…
January 11, 2015 — The auto show in Detroit hasn’t yet officially begun, but we already have what likely will be the event’s biggest story — the suddenly heated battle between General Motors and Tesla for dominance over the electric vehicle segment. Tomorrow morning’s unveiling of GM’s concept of its new electric vehicle, dubbed the Bolt —… Continue Reading
January 11, 2015 — CDK Global suddenly is attracting the attention of Wall Street investors and analysts following two prominent hedge funds taking activist positions in the company since its IPO and spinoff from ADP in early October. The early returns have been strong — a stock price that began trading in the mid-twenties hit…
January 1, 2015 — China’s car dealers’ inventory battle with automakers shows the need for strong franchise laws. Also, what do the current challenges in the Chinese automotive market mean for the U.S. and the potential entry by players such as Volvo’s parent Geely or the Warren Buffett-backed BYD Auto? The recent spate of stories highlighting…
December 27, 2014 — Much of the auto industry’s discussion regarding cyber warfare focuses on the inherent vulnerabilities of the connected vehicle. But one area that receives little scrutiny is the retail side of the automotive industry. This will soon change as dealerships likely will become one of the central battlefields in the cyber wars that will be… Continue Reading
December 26, 2014 — As we enter the final days of 2014, the industry has experienced what is likely a record number of dealership buy-sells this year with more than 320 changing hands according to data compiled by The Banks Report. Although, unless there is a flurry of deals that close in the next few… Continue Reading