The pace of dealership mergers and acquisitions, despite the ongoing COVID-19 pandemic, appears primed to continue at a high rate in 2021.
Dealers and a buy-sell adviser said last week during an Automotive News Retail Forum: NADA virtual panel discussion that opportunities are out there both for dealers looking to expand their footprints and dealers looking to exit the business — particularly those with smaller operations.
"It's as active as it's ever been," Joe Serra, president of Serra Automotive in Fenton, Mich., said of the buy-sell market. "And it's in a fashion where the potential sellers are very careful on who they want to interact with and who they want to eventually turn over their treasured asset to, their family. And so we're seeing a lot of activity."