Four dealerships, two in the South and two in the Northeast, changed ownership in either fourth-quarter 2021 or first-quarter 2022.
Here's a look at the deals involving import and domestic brands.
Springhill Automotive expands
Springhill Automotive Group bought its second Toyota dealership and entered a new state with the purchase of Toyota of Bristol in Tennessee on Jan. 18.
Springhill Automotive of Mobile, Ala., bought the dealership from Mark Mitchell, managing partner of the Mitchell Family Office in Birmingham, Mich., near Detroit, and JR Reihl, who was the dealership's operating partner.
"Due to the extremely attractive market conditions for dealers and a growing need to get bigger to compete in automotive retail, we were exploring the strategic decision of selling our Toyota of Bristol location and returning our complete focus to the family's core healthcare business opportunities," Mitchell said in a statement.
The family office has other dealership holdings, buy-sell firm Haig Partners of Fort Lauderdale, Fla., confirmed, but specifics weren't available. John Davis, managing director of Haig Partners, represented the sellers in the transaction.
In addition to health care companies, the Mitchell Family Office's businesses include a hotel and an off-road vehicle company, Mil-Spec Automotive, according to its website.
The dealership buyers will retain the store's name.
With the acquisition, Springhill Automotive now has six dealerships across Alabama, Georgia and Tennessee, said Tal Vickers, the group's president.
"We're still looking," Vickers told Automotive News. "I don't have anything I'm looking at ... this minute. But we still have feelers out. The brokers know that we're still in the looking mode.
"With so many buyers out there, I think it's gonna be really tough. I was surprised we were able to get this deal done because of the current environment, but it worked out great. Like I said, we'll continue to look. We're not in a hurry to grow, but we're going to grow strategically and be patient and try to find the right deals for us."
Springhill Automotive owns Springhill Toyota and Lexus of Mobile, both in Mobile, Ala.; Honda of Jasper and Hyundai of Jasper, both in Jasper, Ala.; and Lithia Springs Ford in Lithia Springs, Ga., near Atlanta.
Logan Parker and Robert Bass of Bass Sox Mercer were legal counsel to the sellers, while David Porteous of the Evans Petree law firm advised the buyer.