Dealership Consolidation

LETTER TO THE EDITOR

My Saturn stores were profitable

12:01 am U.S. ET | June 29, 2015

My company, Lucas Dealership Group, owned and operated 30 new-car dealerships between 1960 and 2000, including six Saturn stores. GM wanted to purchase them back, and it was willing to pay a goodwill/blue-sky premium. GM knew Saturn dealerships were profitable and had faith in the future of the product....
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Buy-sell deals, blue sky soar

12:01 am U.S. ET | March 16, 2015

Buy-sell transactions surged last year, sending dealership values higher, especially for luxury brands....
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Porsche may close a few U.S. dealerships

12:01 am U.S. ET | Feb. 23, 2015

A handful of U.S. markets still have too many Porsche dealerships, Porsche Cars North America COO Joe Lawrence said, and the company may use its right of first refusal to close stores. But given Porsche's sales growth and the valuations of its dealerships, consolidation in those markets will be difficult....
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A deal-killer: Automakers' right of first refusal

12:01 am U.S. ET | Feb. 2, 2015

Expect automakers to exercise their right of first refusal on dealership buy-sell deals more often....
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George Soros' Wall Street fund shops for dealership groups

10:30 pm U.S. ET | Jan. 24, 2015

Wall Street fund Soros Fund Management wants to partner in, invest in or outright buy a large auto dealership group, according to four sources familiar with the situation. Two representatives of Soros Fund Management are at the NADA convention in San Francisco this weekend to research the industry and explore opportunities, sources say....
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Buy-sells skyrocket, in dollars and deals

12:01 am U.S. ET | Dec. 1, 2014

This year's buy-sell market is on track to be the most active since 2004, in both number of deals and total dollars, two newly released reports say....
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Bad feelings in Billings over deal veto

12:01 am U.S. ET | Oct. 20, 2014

GM nixed the sale of a Chevrolet store in Montana to former NADA Chairman Bill Underriner. The tale behind that deal - what happened before and after -- shows how the right-of-first-refusal option can sour relations between dealers -- and between dealers and the factory....
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What, me worry? Hendrick says deal-hungry Buffett won't keep him from buying

12:01 am U.S. ET | Oct. 13, 2014

Car dealer Rick Hendrick has a message for auto retailers looking to sell their family business: He's still buying....
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Dealership consolidation is coming -- but how fast and how much?

12:01 am U.S. ET | Oct. 13, 2014

Dealership consolidation is expected to accelerate as Warren Buffett's entry into automotive retailing attracts more buyers, observers said....
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