AutoNation snatches up Aston Martin dealership in N.J.

AutoNation Inc. has acquired Aston Martin Summit in New Jersey from Kevin Flanagan and his brother Sean Flanagan.

AutoNation confirmed the acquisition closed Aug. 17. Both sides declined to discuss the purchase price.

Aston Martin dealerships in the U.S. are rare, with just 35 franchises as of Jan. 1, according to Automotive News' annual dealer census. The Summit store appears to be the auto retail giant's only current Aston Martin dealership, according to AutoNation's website.

Kevin Flanagan said he owned a 68 percent majority of the store, while Sean Flanagan owned 32 percent. Kevin Flanagan, who said he owns other luxury dealerships selling Volvo, Lotus, Karma and McLaren vehicles in the New York metro area, told Automotive News that he hadn't shopped his Aston Martin dealership around. He owned it for about a decade.

"I wasn't really looking to sell, and I got several offers," Flanagan said. "It seemed like there was a surprisingly strong market for the brand, although it wasn't a very profitable brand for us."

He added that AutoNation submitted an offer that exceeded his expectations.

"After a lot of thought and ... some deliberation on it, we decided to take that offer," Flanagan said.

Flanagan said the sale does not diminish his appreciation of the luxury automaker.

"Aston Martin is building a beautiful car for the future," Flanagan said.

The sales process took about six months from start to finish, Flanagan added.

While AutoNation bought the dealership, Flanagan retains ownership of the property.

AutoNation ranks No. 2 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 229,971 new vehicles in 2022.