Dealership buy-sell deals surged in the second quarter after starting slowly this year, and some buy-sell advisers now predict 2018's pace will keep up with last year's.
U.S. dealership transactions totaled 75 in the second quarter, according to the Blue Sky Report by Kerrigan Advisors in Irvine, Calif. Through June, there have been 114 deals, up from 101 at the same time a year ago. Multistore deals also are up with more sellers coming to market.
"We think there will be over 200 transactions this year, which would mean that would be the fifth consecutive year of over 200 transactions," Erin Kerrigan, managing director of Kerrigan Advisors, told Automotive News.
The Haig Report, another industry report that tracks dealership acquisition activity, estimated that 86 stores traded hands in the second quarter, up 87 percent from the same period a year ago.
"The market is very active," Alan Haig, president of Haig Partners in Fort Lauderdale, Fla., told Automotive News. "We're working on more transactions than we ever have been."