A deal estimated to be the third largest in auto retail history has closed. Group 1 Automotive’s purchase of Atlanta-based Hennessy Automobile Companies, which was first announced in late July, closed on Oct. 19, the seller’s advisor Kerrigan Advisors said Wednesday. Group 1 acquires Hennessy’s 10 dealerships, which include two Lexus, two Porsche and three […] [Read More]

Lithia & Driveway has acquired four Kia and Hyundai dealerships in Memphis, Tenn., from Gossett Motor Cars, more than doubling the retailer’s footprint in the city. That’s according to a news release from Kerrigan Advisors, which represented the seller. The transaction included Gossett Kia, Gossett Hyundai, Gossett Kia South and Gossett Hyundai South. “Serving Memphis […] [Read More]

Franchise Equity Partners has brought on former Lithia & Driveway executive Chris Holzshu as an operating partner at the private equity firm. During his 20-plus years at Lithia, Holzshu held such leadership posts as executive vice president, chief operating officer and chief financial officer. “Chris brings a deep understanding of what it takes to build […] [Read More]

It’s a timely reminder: Once again personal trades have outperformed external purchases by almost 3 to 1 at franchise locations, according to NADA used-vehicle sales reporting. In fact, 70% of all used vehicles sold were traded in. This has been the case for decades. Why? It’s simple: public perception. At the end of the day, […] [Read More]

Lani Automotive Group has purchased its first franchised dealership. The group purchased Mount Pleasant Chevrolet GMC Chrysler Dodge Jeep Ram from Coleman Automotive Group, according to a news release from Performance Brokerage Services. Both Lani and Coleman are based in Iowa, as is the dealership. In a news release, Sam Saghbini and Sean Veilani of […] [Read More]

Even a global examination of car buying placed dealerships at the center along with their notable value to process. From the United States to Canada, the United Kingdom, Germany, France, Italy, United Arab Emirates, China, India, Indonesia, and Japan, Bain & Co. found that dealers are one of the most important parts of transactions. More […] [Read More]

Cox Automotive is going back to school. The company has launched a pilot program to provide free access to Xtime software, training and learning resources to students at automotive technical schools. The program, which launches at Southern Union State Community College in Opelika, Ala., is designed to help prepare young technicians for dealership service careers. […] [Read More]

Next year will be a historic one for the National Automobile Dealers Association. Sandy Fitzgerald Angello will become the second woman to serve as NADA chair and the first in almost 20 years. In 2008, Annette Sykora was the first woman to become chair of the trade group. Angello, vice president and dealer operator of […] [Read More]

Asbury Automotive Group has sold Kia of Owings Mills in Maryland and its related real estate to Stivers Automotive Group, according to a news release from The Presidio Group, which advised Presidio on the transaction. With this move, Asbury continues its portfolio management efforts aimed at concentrating its resources on core business and key expansion […] [Read More]

Hertz Car Sales has expanded its program that lets potential customers try before they buy. The used-car retailer’s extended test drive program is now available at more than 300 participating Hertz neighborhood rental locations, the company said. TestDrive+, previously called Rent2Buy, allows shoppers to pay a daily drive fee and then test drive a vehicle […] [Read More]