Cliff Banks - The Banks Report

AutoNation Acquires Luxury Stores in NY

July 7, 2016 — AutoNation announced this morning it is acquiring four luxury dealerships in the Westchester County, New York market. AutoNation is buying BMW Mt. Kisco, Land Rover Mt. Kisco and Jaguar Land Rover Larchmont/New Rochelle from The Premier Collection. It also is adding White Plains Jaguar from DiSimone Imports

The new stores are projected to generate an additional $190 million in annual revenue and 2,600 retail new and used vehicle annual unit sales.

AutoNation will renovate the BMW facilities in Mt. Kisco along with relocating the Land Rover franchise and combine it with a new Jaguar point in a new state-of-the-art auto retail facility. Meanwhile, AutoNation also is building a new Jaguar Land Rover facility in White Plains to accommodate a new Land Rover point there.

AutoNation will also receive another new Land Rover point to go with the Jaguar franchise in Larchmont/New Rochelle.

The new Jaguar Land Rover facilities in White Plains and Mt. Kisco are expected to generate approximately $100 million in additional annual revenue once fully operational, according to a press release from AutoNation this morning.

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