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mergers and acquisitions

FCA, PSA Reach Tentative Merger Deal

Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.

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Report: FCA and PSA in Merger Talks

Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.

Survey: Optimism Soars Among Subaru, Toyota Dealers

The results of Kerrigan Advisors’ first annual dealer survey show Subaru and Toyota franchisees lead the industry in believing their dealerships will increase in value, outpacing all other brands — including highlines.

World’s First Carbon-Neutral Dealership Changes Hands

Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.

Used-Vehicle Volumes Up 4.1% Among Privately Owned Dealers

Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.

Pace of Dealership Acquisitions Slows in Q2

Kerrigan Advisors’ latest Blue Sky buy/sell report counts 49 transactions in the second quarter, a slight decline from Q1 but enough to maintain a 200-plus-transaction pace for 2019.

AAGI Acquired by Amynta Group

American Auto Guardian Inc. has been acquired by Amynta Group, creating a combined footprint that includes 15,000 dealers and 1,400 agents in the U.S. and Canada.

Beverly Hills BMW Sold in Recordbreaking Deal

The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.

Portfolio Acquired by Abry Partners

Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.

PowerBand Acquires Tesla’s Leasing Partner

PowerBand Solutions is set to purchase 60% of the parent company of MUSA Auto Finance, a move designed to give PBX a competitive edge in acquisition, leasing, lending, and auction services.