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
August 30, 2016 — The Walser Automotive Group, one of the largest dealer groups in Minnesota, is expanding to the Wichita, KS market acquiring the 10 brand-Wichita Luxury Collection this week. Meanwhile, Rick Ford’s RFJ Autos closed on the Jordan Automotive Group and its Ford and Toyota dealerships in Mishawaka, IN last week. Walser’s purchase of… Continue Reading
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
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…
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… Continue Reading
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
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…
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…
April 20, 2016 — Greg Miller, the former CEO of the Larry H. Miller Automotive Group, announced last week that he has acquired Bob Baker Toyota from the Bob Baker Automotive Group in San Diego. According to media reports, Miller’s new venture is separate from the Larry H. Miller Automotive Group, the mega dealer group, he… Continue Reading
Last week’s announcement that Holman Automotive is acquiring the Kuni Automotive Group is significant on numerous levels. The Banks Report, which broke the news of the deal, estimates that it is the biggest dealer acquisition since Warren Buffett’s purchase of the Van Tuyl Automotive Group in March of 2015. So what does the deal mean for…
