Despite negative economic headlines and a volatile stock market, auto retailers continued their expansion through acquisition, with buy/sells increasing 16% YOY, despite spending pullbacks by public retailers, according to the Second Quarter 2022 Blue Sky Report® by Kerrigan Advisors.
Holmes Honda Shreveport and Honda Bossier City sold to Community Auto Group and Mercedes-Benz and Sprinter of Shreveport, Jaguar Land Rover Shreveport and Holmes Volvo Cars of Shreveport sold to Group 1 Automotive.
Kerrigan Advisors’ Erin Kerrigan sees a positive, record-breaking buy/sell market for 2022 and maybe into 2023.
Orlando-area dealership sold to Morgan Automotive Group, marking the 155th Kerrigan-led dealership sale since 2015.
Unprecedented 383 transactions completed in 2021, representing 830 franchises, nearly three times the pre-pandemic average, according to The Blue Sky Report by Kerrigan Advisors.
Earnhardt Buick GMC and Earnhardt Mazda of Las Vegas sold to Utah-based Jerry Seiner Dealerships marking the 151st dealership sale led by Kerrigan Advisors since 2015.
Positive momentum in auto retail and buy/sell market will continue in 2022, according to the recently-released 2021 Kerrigan Dealer Survey: 61% of dealerships expect an increase in their valuation, 79% expect profits to rise and 77% expect to acquire more dealerships over next 12 months.
Asbury adds to the auto retail megadeals trend with its pending acquisition of Larry H. Miller Dealerships.
Auto dealership buy/sell market on path to most active year in history – 320 transactions June 2020 to June 2021.
Florida dealership sold to Morgan Auto Group, marking the 121st Kerrigan-led dealership sale since 2014.
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