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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.
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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.
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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.
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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.
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Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.
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Despite headwinds threatening dealership profitability, Kerrigan Advisors’ first-quarter report indicates 2019 is trending toward another 200-plus transaction year for the auto retail buy/sell market.
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Fiat Chrysler has backed out of a proposed merger with Renault, blaming ‘political conditions’ in France, whose government owns a 15% share of Renault. A week ago, the companies were poised to form the world’s third-largest automaker.
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The chairman of Fiat Chrysler Automobiles is pushing a proposal that would merge the Italian-American carmaker with France’s Renault, creating the world’s third-largest manufacturer.
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Brown & Brown Inc. has acquired the assets of United Development Systems Inc., the F&I performance and compliance management provider founded by Randy Crisorio in 1982.
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