December 26, 2014 — As we enter the final days of 2014, the industry has experienced what is likely a record number of dealership buy-sells this year with more than 320 changing hands according to data compiled by The Banks Report. Although, unless there is a flurry of deals that close in the next few… Continue Reading
In a move The Banks Report predicted twice in the last six weeks, Sonic Automotive has traded a Cadillac dealership for one of John Elway’s two Chevrolet stores in the Denver market. (November Dealership Buy-Sell Update) The swap came about because Sonic needed real estate on which to build a new facility for the Murray… Continue Reading
David Maus has made his next move in automotive retail acquiring the Nissan dealership owned by the Ferman Automotive Group in New Port Richey, FL. Maus, who had been partnered with the Van Tuyl Automotive Group in four stores in the Orlando, FL area recently sold his stake back to Van Tuyl for a reported $20… Continue Reading
According to data compiled by The Banks Report, the Asbury Automotive Group’s acquisition of Sandy Springs Ford this week puts the industry at 300 dealership buy-sells for the year. As we reported in our November Dealership Buy-Sell Update, the industry finished November with 295 acquisitions, compared with 202 total deals for all of 2013. Since… Continue Reading
December 6, 2014 — UPDATED — Is Volvo worth a second look? The growing role of private equity; How long will the high multiples continue? Record setting year for number of acquisitions as the industry zeroes in on 300. Number of acquisitions by brand. Also, Van Tuyl sells a dealership; Sonic’s pending deals & the top… Continue Reading
November 24, 2014 — Teachers in Texas apparently like the financial prospects of franchised car dealerships. One of the country’s largest pension funds, the Teachers Retirement System of Texas is investing in Capital Automotive, a firm that provides sale-leaseback capital to car dealers, through an investment fund established by Capital’s parent Brookfield Property Partners. Brookfield…
The automotive retail space is within striking distance of 300 dealership acquisitions for all of 2014 following a monster October that saw 49 rooftops change hands. Meanwhile, prices for deals start to climb in wake of Buffett’s announcement. Fueled by Lithia Motors’ acquisition of the DCH Automotive Group, the 49 rooftops that changed owners in…
November 3, 2014 –The dealership buy-sell market remains hot through for the year with 200 acquisitions through the third quarter. While Warren Buffett’s announcement brought a renewed sense of energy to the market, it ultimately may dampen potential acquisitions for the next couple of quarters as buyers are content to wait out what is proving to…
October 29, 2014 — Dealers in the market for a Cadillac franchise may want to tread carefully. A month ago we wrote about what we believe will be a painful forecast for many of Cadillac’s 924 dealers. The brand has a new home in New York and as many as 10 new products coming in…
The Hendrick Automotive Group today closed on the acquisition of Sandy Springs Toyota Scion in Atlanta, GA. Barry, Mike and Brad Jackson ran the 35 year old dealership for the family. It’s Hendrick’s 94th dealership — the group just closed two weeks ago on Ted Linhart’s Dominion Chevrolet Buick GMC in Short Pump,, VA. So far… Continue Reading