Dealership Buy-Sell June Recovery Points to Sizzling 2nd Half

Dealership Buy-Sell June Recovery Points to Sizzling 2nd Half

July 9, 2020 — After a short COVID-19-induced respite in April and May, the dealership buy-sell market is back in business in a big way finishing the first half on par with 2019 activity. All signs are pointing to a sizzling third quarter continuing a pace set in June that saw 22 transactions involving 31…

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Carvana Leads the Charge Public Dealer Groups Rebound

Carvana Leads the Charge Public Dealer Groups Rebound

April 14, 2020 — Online used-vehicle retailer Carvana share price jumped nearly 23% yesterday to $75.28 and is up nearly another $7 in early trading this morning. That’s a 228.6% increase from just over three weeks ago when its stock price hit its 52-week low of $22.91. Each of the eight public dealer group stocks…

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Dealership Buy-Sell Report 2019

Dealership Buy-Sell Report 2019

March 9, 2020 — The number of franchise new-vehicle dealerships involved in buy-sell transactions declined 6.7% in 2019 from 2018. The number of transactions dropped 11.1% over the same period. Despite the decline, 2019 was the third most active year — in the number of rooftops and the number of transactions — over the last…

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Public Dealer Stocks on a Tear

Public Dealer Stocks on a Tear

July 25, 2019 — Public dealer stocks have jumped an average of more than $5 over the last two days fueled by stronger-than-expected second-quarter earnings from AutoNation and Lithia Motors. The run began with AutoNation’s second-quarter earnings release on Tuesday in which it reported a record $1.12 earnings-per-share exceeding analysts expectations. The nation’s largest dealer…

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Not the First Choice, but Miller is the Right Choice for AutoNation

Not the First Choice, but Miller is the Right Choice for AutoNation

July 23, 2019 — Late yesterday afternoon, AutoNation announced long-time CFO and vice president Cheryl Miller as its new CEO and president. She’s replacing Carl Liebert. On the surface, the change was a shock. Liebert had only assumed the top job at the nation’s top-selling dealer group in March after a months-long search that reportedly…

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Cliff Banks - The Banks Report

Leucadia Becomes Second Large Investment Firm to Exit Dealership Business in 6 Months

April 10, 2018 — Leucadia National Corporation announced yesterday it is selling its equity and real estate interests in dealer group Garcardia to the Garff family, its partners in the joint venture that began in 2006. Leucadia, a publicly traded holding company (LUK – NYSE) holds a 75% interest in Garcadia, which includes 28 dealerships…

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