Cliff Banks's Blog – July 2011 Archive (3)

Penske Closes the Gap with AutoNation

The Penske Automotive Group is catching up to AutoNation in the total revenue department. A few years ago, AutoNation was generating about $20 billion in annual revenue, while Penske was at about $8 billion.

 

Penske has narrowed the gap considerably generating $10.6 billion last year to AutoNation's $12.4 billion ($12.5 if you round up). And now Penske has added about $257 million worth of revenue with today's acquisition of Crevier BMW in Santa Ana, CA. Crevier is the fifth…

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Added by Cliff Banks on July 13, 2011 at 4:28pm — 3 Comments

A Trip Down Memory Lane...

Here's a question -- what's the craziest or most clever marketing scheme you've seen from a car dealer?

 

Some of the old giants in the industry -- Jim Moran, Cal Worthington, Earl Muntz andcountless others -- put together some wild and over the top marketing schemes. Moran probably was the first dealer to advertise on TV with a variety show and his sponsorship of a wrestling show in Chicago long before he created JM Enterprises, the largest Toyota distributorship in the…

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Added by Cliff Banks on July 13, 2011 at 9:16am — 1 Comment

Red McCombs - An American Icon

They don't make them like Red McCombs any more. Billy Joe (B.J. or Red, as he known) is a legend -- not just in automotive retail -- but in the history of American business.

 

When you have a few minutes, check out Brad Wernle's profile of MCombs in Automotive News. Wernle is one of the top reporters in automotive and does an awesome job of capturing…

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Added by Cliff Banks on July 5, 2011 at 9:36am — 1 Comment

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