Julie Walker Reporter covering dealership buy-sells and auto retailing [email protected] 313-400-1781 See All Staff Page Recent Stories Group 1 Automotive adds Kia store, sells Ford dealership Group 1 said the new Kia store is expected to generate $85 million in annual revenue. The auto retailer also divested a Ford dealership near New Orleans. Franchise Equity Partners reveals $55M minority stake in Parks Automotive Group Franchise Equity Partners invested $55 million in Parks Automotive Group, to acquire a minority stake in the group. The announcement comes months after Parks Automotive, with the investment firm, bought two Stellantis stores near Charlotte, N.C. Ford, Chevy and Buick-GMC-Cadillac dealerships sell across 4 states A new group bought its first dealership, another expanded to four stores in Oklahoma, a Michigan dealer acquired a Ford location, and a group on top 150 dealerships bought two stores in New York. Ford, Stellantis and GM car dealerships sell in Iowa and Arizona Stores in Iowa and Winslow, Ariz., a town immortalized by the Eagles hit "Take It Easy," sell in 2022 deals. Group 1 acquires 3 Buick-GMC dealerships in Texas Group 1's purchase of 'uniquely high-volume stores' from Beck & Masten group is expected to generate $760 million in annual revenue. Morgan Automotive Group buys 4 dealerships in Florida, including its first in Miami Morgan Automotive followed its acquisitive 2022 by adding 4 dealerships so far this year and has entered the Miami market. Sedano scoops up 3 stores near home Sedano's acquisitive first-quarter brings his dealership count to 5 and adds a store along California's iconic Mile of Cars in National City. Kia, Nissan, Ford, Stellantis and GM dealerships sell across 5 states A West Coast auto retailer bought and sold dealerships, a dealer acquired his first Ford store, a group grew to three stores and two brothers expanded their holdings, all in transactions that closed in the second and fourth quarters of 2022 and the first quarter this year. Stellantis, GM, Honda and Hyundai dealerships sell in 4 states Two dealership groups expanded in new markets, a dealer added a second Honda store, and a new partnership duo acquired its first store in transactions in the last half of 2022 and second quarter of this year. Bob Loquercio Auto Group buys Lexus, Toyota and Ford dealerships The acquisitions bring the group's franchised dealership count to 14 and includes its first Lexus store. Iconic Felix Chevrolet dealership among stores sold in 4 states L.A.'s iconic Felix Chevrolet changed hands, a group added another Kia store to its mix, and dealerships selling General Motors and Stellantis brands traded hands in fourth-quarter and second-quarter transactions. Chevy, Audi, Stellantis and Ford dealerships trade hands in 4 states Two of the country's largest dealership groups made first-quarter purchases while two other growing groups on the East Coast also made early 2023 purchases. Column: This year's annual dealership group ranking chock-full of change It won't take long for readers of Automotive News' latest list of the top 150 dealership groups to notice changes in the lineup. Chevy, Buick, Honda and Acura dealerships sell in 4 states Two dealership groups entered new states, a dealer and his group expanded in Chicago and an entrepreneur purchased his first franchised dealership — all in transactions that closed in the fourth quarter. LaFontaine Automotive Group expands in metro Detroit LaFontaine Automotive Group has purchased a Chevrolet store in metro Detroit, marking its second dealership acquisition of the year. Load More
Julie Walker Reporter covering dealership buy-sells and auto retailing [email protected] 313-400-1781 See All Staff Page