Cliff Banks - The Banks Report

Direct-to-Consumer Model “A Disaster Waiting to Happen” for Automakers

April 17, 2022 — A direct-to-consumer sales model appears to be a non-starter for Toyota as sales chief Bob Carter calls it “a disaster waiting to happen.” Carter provided his perspective on a wide range of topics during an on-stage interview with Jason Stein, president of Motormindz, at the NADA/J.D. Power Automotive Forum in New… Continue Reading

Thoma Bravo Putting Together an Automotive Data Giant

Thoma Bravo Putting Together an Automotive Data Giant

July 31, 2019 — Thoma Bravo emerged yesterday as the winning bidder for J.D. Power and Associates. It is the private equity firm’s second automotive-data play since late April when it acquired Autodata Solutions from KKR. Bravo also owns Trader Corp., the leading automotive retail digital company in Canada (it acquired the Montreal-based digital marketing…

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Don’t Like GM’s Plant Closures? Blame the Threat of Activist Investors

Don’t Like GM’s Plant Closures? Blame the Threat of Activist Investors

February 6, 2019 — This week, General Motors began the difficult task of laying off more than 4,000 salaried employees as part of a massive restructuring this year that includes the idling of five North American plants, eliminating vehicles and an overall workforce reduction of 14,700 employees. The moves are designed to save the automaker… Continue Reading

Cliff Banks - The Banks Report

Audi CEO Arrested

January 18, 2018 — Audi CEO and head of Volkswagen group sales Rupert Stadler was arrested earlier this morning as part of the ongoing diesel scandal that has roiled parent company The Volkswagen Group since 2015. According to various media reports, German officials arrested Stadler at his home early Monday morning on concerns he might… Continue Reading

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

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

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