Lithia Motors Completes DCH Purchase

Lithia Motors Completes DCH Purchase

Despite our earlier report this morning that a manufacturer may have been trying to block part of the deal, the Lithia Motors’ acquisition of the DCH Automotive Group was just signed this afternoon and includes all of DCH’s 27 dealerships. The purchase closely follows what Lithia laid out in its investor presentation in mid-June. The Medford, OR-based…

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A New Breed of Investor in Automotive Dealerships

A New Breed of Investor in Automotive Dealerships

September 22, 2014 — A new type of investor in dealerships may provide the comfort level manufacturers require and the flexibility dealers need.    Recently a new breed of investor has been drawn to the business of franchised retail auto dealerships. Included are hedge funds, private-equity funds and family offices. First, what attracts them to automotive…

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Cliff Banks - The Banks Report

Mid-Size Sedan Market Feeling the Pressure

September 15, 2014 — Automotive sales in August far exceeded everyone’s expectations leading to concern that automakers were again relying on aggressive incentives rather than true demand juice showroom traffic. The truth lies somewhere in the middle — but could have far reaching implications for the short term future of  certain market segments, and even,…

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Cliff Banks - The Banks Report

Group 1 Automotive Doubles Down in Brazil; Exits Long Island

September 15, 2014 — In the words of Kenny Rogers — “You’ve got to know when to hold ’em; know when to fold ’em; know when to walk away; know when to run.” And Group 1 Automotive’s Chairman and CEO Earl Hesterberg is showing he’s not afraid to follow that advice and cut his losses.…

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Cliff Banks - The Banks Report

SoCal Penske Building Empire in Southern California

September 14, 2014 — Drew AutoCenter in La Mesa, CA announced on Friday to its employees that it is being acquired by Roger Penske Jr.’s group, SoCal Penske Dealer Group, according to multiple sources familiar with the deal. The auto center includes Drew Ford and Drew Hyundai along with a used vehicle super store. The industry…

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Cliff Banks - The Banks Report

Barrier Motors to be Sold to Public Dealer Group?

UPDATED: AutoNation just sent a press release announcing the acquisition of Barrier Motors, which we reported earlier this morning. Industry sources are telling us that a sale of Barrier Motors Group in Bellevue, WA is imminent and that the likely buyer is a public dealer group. Based on the rumors, the market and the brands, it’s…

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