September 1, 2016 — Todd Blue’s IndiGO Auto Group announced yesterday it has acquired BMW of Palm Springs in California. It is the group’s 12th luxury franchise. The acquisition closes out was has been a furious final two weeks in August in which the industry saw nine transactions involving 21 dealerships (25 franchises). The Banks Report will have final August numbers in the next couple of days.
The question is whether the activity of the last two weeks portends increased dealer buy-sell activity for the rest of the year. The number of transactions April through July dropped from previous years but based on the rumors we’re hearing, the industry could see a flurry of deals the rest of the year.
Blue acquired the BMW store from the same group he purchased Desert European Cars from in August 2013 — Gene Whisenhunt, Jerry Johnson and the Hickingbotham family.