DALLAS — Dealership brokers and retail consultants predict another brisk year of buy-sell activity in 2023 despite rising interest rates, expectations of flat or lower store profits and the possibility of a recession.
And while there's a mix of predictions on how many buy-sell deals will happen in 2023, some professionals arranging transactions and dealers looking to acquire stores indicate it's just as busy as the previous two years. Many dealers are flush with cash after three years of high dealership profits and want to reinvest in the business, brokers and consultants say.
Mike Sims, president of buy-sell firm Pinnacle Mergers & Acquisitions in Frisco, Texas, described deal flow as strong and even more so after meeting with clients at the NADA Show here.