Car dealership

Auto Dealership Buy/Sell Market Achieves New Transaction Record in 2023, Surpassing 2021 Peak; Valuations Remain at All Time Highs for Top Franchises in High Growth Markets

Retrieved on: 
Tuesday, April 9, 2024
Consulting, EV, Electric Vehicles, Automotive, Professional Services, Business, Marketing, Advertising, Communications, Other Automotive, General Automotive, Finance, Lincoln, Volvo, Face, Growth, Asbury Automotive Group, Original equipment manufacturer, Big Three (automobile manufacturers), Partnership, Risk, Multiple, Kerrigan, Sale, Acquisition, Ford, ICE, BMW, OEM, Toyota Financial Services, Population growth, Car dealership

The auto dealership buy/sell market’s outperformance relative to the broader corporate M&A market is, according to the report, a result of its distinctly private structure.

Key Points: 
  • The auto dealership buy/sell market’s outperformance relative to the broader corporate M&A market is, according to the report, a result of its distinctly private structure.
  • “When earnings soared in 2021, buyers correctly projected that pandemic earnings were unsustainable and normalized earnings for valuation purposes.
  • The public dealership groups acquired 61 franchises for $2.7 billion in 2023, the second highest US acquisition spending level on record.
  • The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail.

Indian Motorcycle Dealers Ranked Highest in 2024 Industry Study Measuring Response to Website Customers

Retrieved on: 
Monday, April 8, 2024
Automotive, Sports, General Automotive, Recreational Vehicles, Motor Sports, Motorcycles, Kawasaki, Cub Cadet, Tracker, Moto Guzzi, Royal Enfield, Arctic Cat, Telephone, Pied Piper of Hamelin, Internet, Car dealership, Kubota, Livewire, Polaris, ILE, Piper, BMW, Motorcycle, BRP, Kymco, Multimedia, Harley-Davidson, KTM, Triumph

Polaris Inc’s Indian motorcycle dealerships were ranked highest according to the 2024 Pied Piper PSI® Internet Lead Effectiveness® (ILE®) Study, which measured responsiveness to internet leads coming though powersports dealership websites.

Key Points: 
  • Polaris Inc’s Indian motorcycle dealerships were ranked highest according to the 2024 Pied Piper PSI® Internet Lead Effectiveness® (ILE®) Study, which measured responsiveness to internet leads coming though powersports dealership websites.
  • “2024 is a much more challenging business environment for powersports dealers,” said Fran O’Hagan, Pied Piper’s CEO.
  • In contrast, dealerships which score below 40 fail to personally respond in any way to their website customers.
  • The 2024 Pied Piper PSI-ILE Study (U.S.A. Powersports) was conducted between May 2023 and February 2024 by submitting website inquiries directly to a sample of 3,718 dealerships nationwide representing all major powersports brands.

McGovern Auto Group Opens the Largest Dealer-Owned Collision Center in the USA! Raising the Bar for Auto Body Repair

Retrieved on: 
Tuesday, April 9, 2024
Certification, Volvo, MAG, U.S. Route 44, Foot, Land Rover, Ferrari, CDL, BMW, Multimedia, Car dealership

SHREWSBURY, Mass., April 9, 2024 /PRNewswire/ -- McGovern Auto Group (MAG), the leading automotive retailer in the Northeast, today announced the grand opening of the MAG Collision Center, McGovern's new flagship body shop that promises to reshape collision repair services across Massachusetts and beyond. Located at 420 Boston Turnpike in Shrewsbury, the state-of-the-art, 75,000 square foot facility cements McGovern's position as the foremost automotive group in the region while delivering customers access to unrivaled auto body repair and paint services.

Key Points: 
  • As the single largest auto body shop in the Northeast and the biggest dealer - owned collision center nationwide, the MAG Collision Center represents a multimillion-dollar investment in McGovern's depth in auto repair in the Northeast.
  • Beyond resources, McGovern has furnished the facility with next-generation equipment, materials, and processes to truly optimize and modernize collision services.
  • "Today is an important milestone, not just for McGovern auto , but also for every driver needing collision repairs or a fresh paint job," said Matt McGovern, CEO of McGovern Auto Group.
  • The MAG Collision Center will also be home to McGovern's transport and vehicle mobility division, McGovern Transport, housing its fleet of 14 trucks.

Car Buyers in Scottsdale, Arizona, Can Lease the 2024 Mercedes-Benz CLA 250 Coupe for $599 Per Month Only

Retrieved on: 
Monday, April 8, 2024
CLA, Mercedes-Benz, Multimedia, Acquisition, Engineering, Coupe, Car dealership

SCOTTSDALE, Ariz., April 8, 2024 /PRNewswire-PRWeb/ -- Mercedes-Benz of Scottsdale is thrilled to announce an exclusive leasing offer on the highly coveted 2024 Mercedes-Benz CLA 250 Coupe, available until April 30, 2024. Qualified customers can lease the CLA 250 Coupe for just $599 monthly for 36 months, with $4,723 due at lease signing, including a $1,000 Loyalty Bonus.

Key Points: 
  • Drivers can lease the 2024 Mercedes-Benz CLA 250 Coupe for $599 at the Mercedes-Benz of Scottsdale dealership in Scottsdale, Arizona.
  • SCOTTSDALE, Ariz., April 8, 2024 /PRNewswire-PRWeb/ -- Mercedes-Benz of Scottsdale is thrilled to announce an exclusive leasing offer on the highly coveted 2024 Mercedes-Benz CLA 250 Coupe, available until April 30, 2024.
  • Qualified customers can lease the CLA 250 Coupe for just $599 monthly for 36 months, with $4,723 due at lease signing, including a $1,000 Loyalty Bonus.
  • Mercedes-Benz of Scottsdale has an extensive inventory of new Mercedes-Benz vehicles , including the 2024 CLA 250 Coupe.

Chris Auffenberg Family of Dealerships Carries the Stylish, Powerful 2024 Lincoln Nautilus SUVs in Its Inventory

Retrieved on: 
Friday, April 5, 2024
Lincoln, Koutetsu no Kishi, Environment, SUV, Nautilus, Lincoln MKX, Intelligence, Turbocharger, Torque, Multimedia, UCI race classifications, Car dealership

WASHINGTON, Mo., April 5, 2024 /PRNewswire-PRWeb/ -- The Chris Auffenberg Family of Dealerships proudly announces the arrival of the highly anticipated 2024 Lincoln Nautilus, setting a new standard for luxury SUVs in Washington, Missouri. Combining exquisite design, advanced technology and high-end capability, the latest Lincoln Nautilus is poised to elevate driving experiences.

Key Points: 
  • Customers near Washington, Missouri, who want to purchase the latest 2024 Lincoln Nautilus SUVs can do so at the Chris Auffenberg Family of Dealerships.
  • WASHINGTON, Mo., April 5, 2024 /PRNewswire-PRWeb/ -- The Chris Auffenberg Family of Dealerships proudly announces the arrival of the highly anticipated 2024 Lincoln Nautilus , setting a new standard for luxury SUVs in Washington, Missouri.
  • Crafted with meticulous attention to detail, the 2024 Lincoln Nautilus captivates with its sophisticated exterior and refined interior.
  • As a premier destination for luxury vehicles in Washington, the Chris Auffenberg Family of Dealerships offers an extensive inventory of the latest Lincoln models, including the all-new 2024 Nautilus.

Holman Finalizes Acquisition of Leith Automotive, Nearly Doubles Retail Business

Retrieved on: 
Tuesday, March 19, 2024
Growth, Risk management, Acquisition, Ford, Car dealership

MOUNT LAUREL, NJ, March 19, 2024 (GLOBE NEWSWIRE) -- Holman , a global automotive services leader, has completed its acquisition of the North Carolina-based Leith Automotive Group.

Key Points: 
  • MOUNT LAUREL, NJ, March 19, 2024 (GLOBE NEWSWIRE) -- Holman , a global automotive services leader, has completed its acquisition of the North Carolina-based Leith Automotive Group.
  • This nearly doubles Holman’s automotive retail business, which now features 58 dealerships, 34 brands, and nearly 4,500 retail automotive employees in nine states; and marks the largest retail acquisition in Holman’s 100-year history.
  • Together, Holman and Leith remain committed to doing the right thing for their employees, customers and the community.
  • “Like Holman, Leith has placed the highest priority on delivering excellent customer service by building a strong network of employee partners,” Holman President of Automotive Retail Gene Welsh said.

Haig Partners releases the Q4 2023 Haig Report®, which tracks trends and their impact on dealership values

Retrieved on: 
Tuesday, March 26, 2024
Retail, Commercial Building & Real Estate, Automotive Manufacturing, Construction & Property, Manufacturing, Finance, Banking, Accounting, Professional Services, Trucking, Other Retail, General Automotive, Transport, REIT, Automotive, Logistics, Supply Chain Management, Partner, Original equipment manufacturer, Mercedes-Benz, Life, Sale, J.D. Power, Record, Toyota, Pleasure, Kia, BMW, Cox Enterprises, ATP, Multimedia, Lithia, Car dealership

Haig Partners LLC , released its closely followed Haig Report® for Q4 2023, which tracks trends in auto retail and their impacts on dealership values.

Key Points: 
  • Haig Partners LLC , released its closely followed Haig Report® for Q4 2023, which tracks trends in auto retail and their impacts on dealership values.
  • (Graphic: Business Wire)
    In 2023, Haig Partners advised on two record-setting deals, fetching the highest price for Toyota and Stellantis dealerships.
  • Average estimated profits per dealership were 78% higher in Q4 2023 compared to Q4 2019, before the pandemic hit.
  • Alan Haig , President of Haig Partners, shared, “We are seeing mixed trends in auto retail today, which are pushing down dealership profits and dealership values.

Haig Partners Serves as Exclusive Sell-side Advisor on the Sale of Toyota of North Charlotte

Retrieved on: 
Tuesday, March 19, 2024
Accounting, Professional Services, General Automotive, Automotive, Commercial Building & Real Estate, Construction & Property, Trucking, Legal, Automotive Manufacturing, Transport, REIT, Manufacturing, Partner, Growth, Sale, Pleasure, Underwood, BMW, Car dealership

Haig Partners LLC , the leading buy-sell advisory firm to auto, heavy truck, and RV dealers in the US, served as the exclusive sell-side advisor to the owners of Toyota of North Charlotte on its sale to Hudson Automotive Group.

Key Points: 
  • Haig Partners LLC , the leading buy-sell advisory firm to auto, heavy truck, and RV dealers in the US, served as the exclusive sell-side advisor to the owners of Toyota of North Charlotte on its sale to Hudson Automotive Group.
  • Toyota of North Charlotte first opened for business in 2003 and has won numerous awards over the years.
  • Joe Siviglia shared, “Toyota of North Charlotte is a highly profitable dealership and we have enjoyed serving the Charlotte area for over 20 years.
  • Selling Toyota of North Charlotte provides us with greater resources and an increased focus on growth in Florida.

Haig Partners Serves as the Exclusive Advisor on the Sale of Lebanon Ford to Nucar Family of Dealerships

Retrieved on: 
Wednesday, March 13, 2024
Automotive, Automotive Manufacturing, Manufacturing, General Automotive, Construction & Property, Business, Finance, REIT, Consulting, Other Automotive, Banking, Accounting, Recreational Vehicles, Professional Services, Performance & Special Interest, Off-Road Trucks & SUVs, Motorcycles, Fleet Management, EV, Electric Vehicles, Aftermarket, Partner, Growth, PLLC, Sale, LLP, Acquisition, Ford, Holland & Knight, Multimedia, Family, Car dealership

Haig Partners LLC , the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to Saint J Auto on the sale of Lebanon Ford in Lebanon, NH to Nucar Family of Dealerships based in New Castle, DE.

Key Points: 
  • Haig Partners LLC , the leading buy-sell advisory firm to auto, heavy truck and RV dealers in the U.S., served as the exclusive sell-side advisor to Saint J Auto on the sale of Lebanon Ford in Lebanon, NH to Nucar Family of Dealerships based in New Castle, DE.
  • Lebanon Ford has been a family endeavor, managed by my sons, Nathan and Evan, alongside our COO and longtime friend, Ray Gaudette, since its inception.
  • "We extend our heartfelt congratulations to Chris and Dan Dagesse of Nucar Family of Dealerships on this acquisition.
  • The sale of Lebanon Ford represents the 26th dealership the team at Haig Partners has bought or sold in New England.

Kunes Country Ford Awarded for Customer Service and Satisfaction

Retrieved on: 
Thursday, April 4, 2024
RV, Knowledge, Customer service, Xinyuan County, Car dealership

DELAVAN, Wis., April 4, 2024 /PRNewswire/ -- Kunes Auto Group, with 45 auto and RV dealerships spanning the Midwest, is honored to announce its Delavan location received the prestigious Ford President's Award for Customer Service and Satisfaction. Only 340 of the five thousand Ford dealerships across the country received the honor this year, and Kunes is the only Wisconsin dealer selected in 2024.

Key Points: 
  • DELAVAN, Wis., April 4, 2024 /PRNewswire/ -- Kunes Auto Group , with 45 auto and RV dealerships spanning the Midwest, is honored to announce its Delavan location received the prestigious Ford President's Award for Customer Service and Satisfaction.
  • Only 340 of the five thousand Ford dealerships across the country received the honor this year, and Kunes is the only Wisconsin dealer selected in 2024.
  • This is the eighth time Kunes has won this award, which is given to Ford dealerships that demonstrate quality business practices and operate at the highest level of customer service, satisfaction and experience.
  • To be eligible for the Ford President's Award, Ford Dealers must:
    Be franchised on or before January 1, 2019, and at the time the award is presented
    Kunes Country Ford of Delavan opened its doors in 1997 and employs 75 people spanning customer service roles, service technicians and management.