Utah Dealership Trades Hands
CDJR store moved from one major auto group to another
Buyer Young Automotive Group renamed the store to reflect its brand.
Pexels/Mohamad Aloul
A Salt Lake City-area dealership has been sold by one of the biggest U.S. automotive groups.
Atlanta-based Asbury Automotive Group sold the Larry H. Miller Chrysler Dodge Jeep Ram Riverdale store to Young Automotive Group in a deal brokered by sell-side firm Kerrigan Advisors.
The Young group operates some two dozen car dealerships and about a dozen power-sports stores in Idaho, Montana and Utah, along with truck dealerships and body shops. It renamed the Riverdale store to reflect its brand.
The sale is part of Asbury’s strategic brand mix optimization, Kerrigan Advisors said. Asbury bought the Riverdale store as part of its 2021 acquisition of Larry H. Miller Dealerships, which constituted more than 60 stores in the West.
The Riverdale area is dominated by Hill Air Force Base and a location of aerospace-defense contractor Northrop Grumman, making it a major auto retail market, especially for domestic brands, according to Kerrigan. It said overall Utah sales are up 29% since 2020 and average dealership revenue 17% above the National Automobile Dealers Association average.
“The Utah market continues to attract significant buyer interest given its strong economic fundamentals, consistent population growth and high vehicle ownership rates,” said Managing Director Ryan Kerrigan in announcing the Asbury store sale.
DIG DEEPER: Buy-Sells Up in Q2
More Industry
Toyota Financial Services Adds to HQ
The subsidiary says the new Texas facility is designed to foster collaboration and innovation with the aim of future growth.
Read More →
Four-Figure Loan Payments on the Rise
A LendingTree analysis found that location, age and credit score play a role in the rising amount of auto loan borrowers who make monthly payments of $1,000 or more.
Read More →
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 →