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

Lithia Acquires Ford Store

Lithia Acquires Ford Store

August 13, 2016 — Lithia Motors has acquired Kemp Ford in Thousand Oaks, CA, renaming it DCH Ford it’s fourth acquisition in 2016. The purchase should increase Lithia’s revenues by $65 million annually. The publicly traded dealer group, based in Medford, OR, acquired Riverside Subaru in Riverside, CA in January and Ira Toyota in Milford, MA… Continue Reading

TBR 2016 Mid-Year Dealership Buy-Sell Report

TBR 2016 Mid-Year Dealership Buy-Sell Report

July 12, 2016 — Dealership acquisition activity is showing a slight slowdown according to data compiled for TBR’s 2016 Mid-Year Dealership Buy-Sell Report. (Subscribers to The Banks Report can download Excel files with buy-sell activity going back to January 2013).  Through June of 2016, there were 108 different transactions accounting for 177 rooftops changing hands. In…

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Cliff Banks - The Banks Report

Slow Dealer Buy-Sell Pace Continues First Two Weeks of June

June 14, 2016 — (UPDATED June 16) Of the nine dealership acquisitions through the first two weeks of June, four occurred in the Denver market. In two separate transactions last week, the Larry H. Miller Group acquired three stores from Doug Moreland — Cherry Creek Dodge in Denver, Fiat of Denver and Colorado Chrysler Jeep of Aurora… Continue Reading

Air Bags and Dealer Buy-Sells?

Air Bags and Dealer Buy-Sells?

June 13, 2016 — The collateral damage resulting from the Takata airbag disaster likely will start affecting dealership buy-sell activity at the public group level for the near future. The issue is the number of used vehicles that currently are in inventory at the public dealer groups that cannot be sold because of the recall. The…

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Dealer Buy-Sell Market Slows Down

Dealer Buy-Sell Market Slows Down

May 31, 2016 — With only 86 transactions through May of 2016, the dealership buy-sell market appears to be slowing down from the record-setting pace in 2015 in which The Banks Report recorded 107 transactions over the same period. The number of rooftops changing owners is also down significantly with 149 this year compared with 222…

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