August 23, 2014 — The automotive retail industry should see a third consecutive year of record breaking throughput — the number of sales per dealership — in 2014 according to the mid-year Automotive Franchise Activity Report released by Urban Science last week. Based on LMC Automotive’s forecast of 16.2 million new car sales by the… Continue Reading
August 22, 2014 Earlier this week, Search Optics announced it had acquired dealership website firm DigiGo from KPA. DigiGo formerly was called TK CarSites until a name change last January. TK CarSites had 650 dealership clients in late 2011 when it was acquired by KPA. It was never a really a good fit as the…
Group 1 Automotive continues its aggressive pace of acquisitions buying Mercedes Benz of Boerne, Texas from Ronald Heller and Bill Bird. The deal includes a Sprinter franchise and should generate about $135 million in annual revenue. The store is Group 1’s seventh Mercedes Benz dealership. Group 1 has acquired 41 dealerships dating back to January 2013… Continue Reading
The Larry H. Miller Family of Companies makes its first acquisition in California buying Quality Toyota from Bud Gordon in Corona. The new name of the store will be Larry Miller Toyota Corona. The dealership gives Miller, one of the top 10 dealer groups in the country, a foothold in the important southern California market. Bud… Continue Reading
UPDATED — At least ten (updated from eight) cases of manufacturers using the Right of First Refusal since January 2013, including at least three lawsuits, shows dealers wanting to sell their stores and the dealers hoping to acquire need to do their homework up front to know whether it will be an issue. Since we first reported…
Sonic Automotive is announcing more details today of its pre-owned strategy, which will include a national chain of used-car only stores. The initiative’s name will be EchoPark and will be launched in Denver in October. Ultimately, Sonic plans to be in approximately 50 markets, employing a hub-type model, each with a main store that will…
California Superstores have sold two more dealerships in the last month in what appears to be a dismantling of the dealer group. The group, which began in late 2010, once owned as many as 11 dealerships but is down to four. The two most recent sales include Courtesy Chevrolet-Cadillac in San Jose and the Folsom Chrysler…
The dealership buy-sell market remained hot in July with 27 confirmed acquisition bringing the total for 2014 to 151 rooftops and 225 brands changing hands. In 2013, 110 dealerships changed owners through July. To download an Excel file of this year’s acquisitions click TBR_July_Buy_Sell_Excel. Chevrolet held onto its lead for the year with 16 acquisitions.…
August 21, 2014 — UPDATED: Cox Enterprises announces Cox Automotive — as TBR predicted more than a week ago. Additionally, Manheim announced an acquisition in Brazil, adding to its global footprint. August 9, 2014 — Recently, there have been some intriguing developments in Atlanta at AutoTrader headquarters. Executive Leadership Earlier this week, AutoTrader.com announced it…
UPDATED — Maus calls off deal to join Peacock and First Team. In the last few months, at least three intriguing dealer groups that are potential big players in the buy/sell market have been created. First Team – Peacock & Maus As fast as we publish, sometimes the news changes — David Maus decided not to join…