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Power Auto Group sold its Chevrolet/GMC and Ford locations in Newport to Bay Area Auto Group but will continue to operate five other locations in the Salem area.
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Protective Life Corp. closed its acquisition of F&I company Portfolio Holding Inc., expanding its Asset Protection Division across the automotive, RV, power sports and marine sectors.
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Tiptree Inc.’s insurance division is set to more than double its presence in the F&I products segment with the acquisition of Smart AutoCare.
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Kerrigan Advisors’ latest Blue Sky Report finds the pace of U.S. dealership buy/sell activity quickened in the third quarter and could accelerate further in Q4.
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Asbury Automotive has agreed to acquire the Park Place group of dealerships, adding 17 Texas rooftops and raising Asbury’s highline revenue to approximately 50% of its total.
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iA Financial Group announced the acquisition of IAS, an F&I products and services provider that counts 4,300 dealers in all 50 U.S. states.
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UDS announced the acquisition of Dealer Marketing Link, a Pennsylvania F&I services provider.
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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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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.
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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.
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