The Banks Report

The most informed & connected source for analysis & insight about the automotive retail industry.

[The Banks Report @BanksReport]

@LetsGoHayes_ Listened to 1210 WCAU in Philly - fell asleep listening to Harry Kalas and Richie Ashburn call the Phillie games, and the Phillies weren't playing, it was Old Time radio shows from 8 pm - 10 pm , also on WCAU

[Cox Automotive @CoxAutomotive]

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. https://t.co/8M2Mnm96sk

[The Banks Report @BanksReport]

News this morning - DAS Technology Acquired 3 Birds this week https://t.co/71Hnqi8fSI

[NADA @NADAUpdate]

Colorado’s first Ford dealer literally wrote the book on sales: https://t.co/UYuIDH2sNX #NADACenturyAward

[The Banks Report @BanksReport]

@AsburyAutoGroup & @Group1Auto share prices nipping at @lithiamotors heels

[The Banks Report @BanksReport]

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.

[The Banks Report @BanksReport]

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.

[The Banks Report @BanksReport]

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. https://t.co/aqgVQkW8aP

[The Banks Report @BanksReport]

On Oct. 20, @lithiamotors $LAD was trading at $180 a share. Late yesterday, it was at $294.

[Cox Automotive @CoxAutomotive]

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: https://t.co/Gcf5fIlFS3

[The Banks Report @BanksReport]

Six deals announced this month in auto retail tech space

https://t.co/85tadQGZxg

[The Banks Report @BanksReport]

Doubling down on Cruise & autonomous -- apparently, GM knows something the rest of us don't. Great Q&A session with Jamie Butters @MittenHawk

[The Banks Report @BanksReport]

Doubling down on Cruise & autonomous -- apparently, GM knows something the rest of us don't. Great Q&A session with Jamie Butters @MittenHawk

[Automotive News @Automotive_News]

.@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.

[The Banks Report @BanksReport]

Never saw this coming today. Wow. Ok, Mr. Harbaugh, all previous OSU losses are a distant memory.

[David Shepardson @davidshepardson]

This is a Michigan Ohio State beat down for the ages #GoBlue #beatOhio 44-23

[The Banks Report @BanksReport]

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 @BanksReport]

https://t.co/kfvHCxUHZf

[The Banks Report @BanksReport]

https://t.co/kfvHCxUHZf

[Jill Ciminillo @jillciminillo]

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

[The Banks Report @BanksReport]

@jillciminillo @samabuelsamid I said the same thing yesterday during lunch with OEMs, dealers, tech vendors. Anyone hoping or speculating abt a cash4clunkers-type play, consider this: Cash for Clunkers in 09 cost about $3 billion to scrap 665,000 fuel-inefficient vehicles over a five-month period.

[Squawk Box @SquawkCNBC]

Is the auto industry seeing demand erosion? @Lebeaucarnews breaks down the latest numbers: