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.
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