Tennessee Dealership Changes Hands
Sale is last of auto group that operated Memphis-area stores for decades.
The recently sold Memphis store is the second-highest volume Buick GMC store in the metro area.
General Motors
A Tennessee-based automotive group sold its last dealership after more than 30 years in business.
The last of Memphis-based Sunrise Auto Group’s three stores, Sunrise Buick GMC Covington Pike, to Jim Keras Automotive, also based in Memphis.
Sell-side firm Kerrigan Advisors represented Sunrise in the transaction, in addition to the sale of its other two stores.
Sunrise was founded by Bob Berkheimer. Before the recent deal, Keras Automotive had six dealerships between Tennessee and Missouri among Chevrolet, Chrysler-Dodge-Jeep-Ram, Nissan and Subaru.
The growing market of Memphis is the Southeast’s third biggest metropolitan area, Kerrigan said, and the Sunrise store generates its second highest sales volume of any Buick GMC dealership.
“Based on our analysis, we expect the strength in the Southern buy/sell market to continue,” said Kerrigan founder and Managing Director Erin Kerrigan in a press release on the sale. The firm said it’s handled 85 dealership sales there since 2020.
AUTO GROUP ANNIVERSARY: Holman Celebrates 100 Years of 'Driving What's Right'
More Industry
Dealer Debrief: New-Vehicle Sales Update
In this week's debrief, host Lauren Lawrence discusses the state of new-vehicle sales.
Read More →
Color Your Ride
The first vehicles by startup automaker Slate will come with the option of a medley of wraps in five colors familiar from your childhood.
Read More →
China Leads Global EV Sales
Globally, electric-vehicle sales are continuing their upward trajectory, buoyed by Chinese exports, as the North American region continues to lag behind.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Optimized Charging Could Reduce Costs
According to an Alliance for Automotive Innovation analysis, optimized EV charging could cut costs for drivers and improve grid infrastructure - potential adoption incentives.
Read More →
June Automotive Boon?
A forecast for this month’s new-vehicle sales tells a familiar 2026 story: Year-over-year comparisons must be made in light of last year’s aberrations.
Read More →
Safety Improvements Save Lives
Over the past 30 years, automakers have made many safety tweaks to their vehicles. An insurance industry testing group says that's largely thanks to its crash-worthiness program and that prevented fatalities are the clear result.
Read More →
Indiana Dealership Changes Hands
The Chicago-area CDJR store has been in business for nearly 70 years and is now part of a fast-growing automotive group spread across six states.
Read More →
Survey Shows What Technicians Want
Data gathered by the ASE Training Managers Council shows that service technicians prefer classroom or instructor-led training and hands-on lab work over online or self-led training.
Read More →
Holman Opens New Lexus Dealership
Located in the heart of Clark County, Lexus of Vancouver features a multi-level showroom, more than 30 service bays, an indoor drive for drop-off and pick-up and a fleet of courtesy vehicles.
Read More →