TBR 2016 Report on Dealership Buy-Sell Activity

TBR 2016 Report on Dealership Buy-Sell Activity

March 18, 2017 — Although 2016 saw a slight downturn in the number of transactions from 2015, dealership buy-sell activity the last three years has stayed fairly consistent, according to data compiled by The Banks Report. And 2017 is shaping up to be on par with the previous three years. From 2015 to 2016, the…

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Asbury Acquires Oldest Family-Owned Transportation Co. in the U.S.

Asbury Acquires Oldest Family-Owned Transportation Co. in the U.S.

January 16, 2017 — The Asbury Automotive Group is buying Hare Chevrolet and its affiliated companies — a collision center, an Isuzu dealership and a truck center. Hare Chevrolet, which sits a few miles north of Indianapolis in the town of Noblesville on State Road 37, is unique because it is the oldest family-owned transportation… Continue Reading

Tonkin Dealer Group to be Sold

Tonkin Dealer Group to be Sold

UPDATED: December 13, 2016 — The Banks Report has learned that the Ron Tonkin Family of Dealerships is selling to the Gee Automotive Companies in Spokane, WA, confirming rumors the last several months that a sale was in process. An announcement is expected sometime in the next few days. Meanwhile, the deal is expected to close sometime… Continue Reading

Penske Acquires CarSense; Stock Price Riding High

Penske Acquires CarSense; Stock Price Riding High

December 1, 2016 — The Penske Automotive Group (PAG) announced today it has acquired specialty automotive retailer CarSense from owner and founder Francis I. McGowen. CarSense has five locations in the Philadelphia and Pittsburgh markets specializeing in reconditioning and retailing high-quality, late-model used vehicles at no-haggle prices. Penske says the acquisition should add an estimated $350… Continue Reading

TBR 2016 3rd Quarter Report on Dealership Buy-Sell Activity

TBR 2016 3rd Quarter Report on Dealership Buy-Sell Activity

Dealership buy-sell activity rebounded in September and October following a slow second quarter and should remain brisk for the foreseeable future. With 17 fewer transactions through the end of the third quarter, the 2016 pace is slightly off what was a record year in 2015, according to data compiled for TBR’s 2016 Third Quarter Dealership Buy-Sell Report. (Subscribers…

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Cliff Banks - The Banks Report

Lithia Acquires 18th Store This Year

October 6, 2016 — Lithia Motors announced this morning the acquisition of Audi Auto Gallery in Woodland Hills, CA, from co-founders Harrison Gray and Tony Schwartz. It is Lithia’s 18th dealership acquired this year. The additional $120 million in annual revenue created by the acquisition brings Lithia’s total to approximately $1 billion in acquired revenue this… Continue Reading

Lithia Acquires Carbone Auto Dealership Group

Lithia Acquires Carbone Auto Dealership Group

September 12, 2016 — Lithia Motors has acquired the 13-store Carbone Automotive Group located in New York and Vermont. It’s the second largest acquisition by number of rooftops this year, following the Holman purchase of the 15-dealership Kuni Automotive Group. Since January 2013, Lithia has acquired 67 stores, including  17 this year. The publicly traded dealer group,… Continue Reading

Cliff Banks - The Banks Report

IndiGO Acquires BMW Store in CA — UPDATED

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… Continue Reading