The most informed & connected source for analysis & insight about the automotive retail industry.
Detroit, MI
Joined July 2013
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The Banks Report retweeted
Grab a coffee and take 15 to watch the Monthly Industry Update video from the Cox Automotive Economic and Industry Insights team. Find out the latest on new and used sales, inventory and pricing, plus the Q2 Cox Automotive Dealer Sentiment Index. bit.ly/43RdC51
News this morning - DAS Technology Acquired 3 Birds this week autoremarketing.com/ar/das-t…
The Banks Report retweeted
Colorado’s first Ford dealer literally wrote the book on sales: bit.ly/3lHXm5G #NADACenturyAward
Yesterday, share prices for @AutoNation $AN @PenskeCars $PAG @Sonic Automotive $SAH all hit their all-time highs. Meanwhile, Group 1 Automotive $GPI and @AsburyAutoGroup $ABG hit their all-time highs earlier this month. @lithiamotors $LAD though, is down today $16+ in premarket.
Those UFOs we've been shooting down? Could be balloons from used car dealership lots. At least that's what White House Homeland Security Advisor Liz Sherwood-Randall says. nypost.com/2023/02/15/white-…
On Oct. 20, @lithiamotors $LAD was trading at $180 a share. Late yesterday, it was at $294.
The Banks Report retweeted
Tomorrow, @Ford will confirm Q4 and FY22 earnings. Rival @GM turned in strong results earlier this week, will Ford follow?? U.S. sales last quarter were less than stellar, but ATPs were high and incentive low. As a preview, here's the topline numbers: bit.ly/3WWnsPh
Six deals announced this month in auto retail tech space
thebanksreport.com/vendor-ac…
The Banks Report retweeted
Doubling down on Cruise & autonomous -- apparently, GM knows something the rest of us don't. Great Q&A session with Jamie Butters @MittenHawk
.@GM CEO @mtbarra sat down with AN Executive Editor Jamie Butters (@MittenHawk) at an event hosted by the Automotive Press Association today in Detroit.
Barra spoke about:
▶️: GM’s investments in EVs.
▶️: @Cruise expanding its robotaxi service.
▶️: Upcoming UAW negotiations.
Doubling down on Cruise & autonomous -- apparently, GM knows something the rest of us don't. Great Q&A session with Jamie Butters @MittenHawk
.@GM CEO @mtbarra sat down with AN Executive Editor Jamie Butters (@MittenHawk) at an event hosted by the Automotive Press Association today in Detroit.
Barra spoke about:
▶️: GM’s investments in EVs.
▶️: @Cruise expanding its robotaxi service.
▶️: Upcoming UAW negotiations.
Intriguing insight from IBM's Alan Chakra this morning at the Reuters Automotive Event in Detroit:
The auto industry needs to apply the same intensity to servicing and operating EVs that it is applying to EV development (now at nearly $450 billion investment).
#REAuto
The Banks Report retweeted
When will majority of vehicles on the road be EV? According to @samabuelsamid — way beyond 2040. With 290M vehicles currently on road, it’s going to take a long, long time to replace 50% with EVs. Sam says maybe 10% by 2030. #ChicagoDrivesElectric
#MAMA2022FR
#MAMAELECTRIC22 – at Oakbrook Terrace, IL
The Banks Report retweeted
Is the auto industry seeing demand erosion? @Lebeaucarnews breaks down the latest numbers:
Next week...flying cars, rubber duckies - what else?
The Detroit auto show is back. But it won't look anything like years past. rssfeeds.freep.com/~/7102969…
Why GM's Buick buyout strategy is a smart play and not a move to eliminate dealers:
thebanksreport.com/manufactu…
The Banks Report retweeted
.@BoschGlobal announced that they will be building a new hydrogen fuel cell plant in South Carolina. @Lebeaucarnews reports:
Still confused by the recent changes to Electric vehicle tax credits? Everybody is - her is our understanding of the government's clarification from last week: thebanksreport.com/legalpoli…