Articles from Kerrigan Advisors

Trump’s tariffs, and the resulting geopolitical uncertainty and financial market volatility, slowed the auto dealership buy/sell market in the first quarter of 2025, according to the just-released Kerrigan Advisors First Quarter 2025 Blue Sky Report.

Kerrigan Advisors today released the results of its third annual OEM survey, sharing insights into the thinking of automotive manufacturers. Conducted prior to the Trump Administration’s April 2nd tariff announcement, the 2025 Kerrigan OEM Survey reveals growing concern among automaker executives about China’s rapid expansion in the global automotive sector – especially in electric vehicles (EVs) – and a slower-than-expected US EV rollout. Additionally, prior to any tariff announcements, OEM executives expressed a largely positive outlook on dealership valuations and profitability in 2025.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Lamb Auto Sales in the sale of its Chevrolet Cadillac and Nissan dealerships in Prescott, Arizona to Casa Auto Group. Marking its entry into the Arizona market, Casa Auto Group, founded by the Lowenfield family, operates 12 dealerships across Texas and New Mexico and is ranked 134th on the Automotive News’ 2024 Top 150 Dealership Groups list. The sale represents Kerrigan Advisors’ seventh and eighth dealerships sold in Arizona, and its 290th and 291st dealerships sold since the firm’s inception.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented 802 Cars in the sale of its Burlington Subaru and Burlington Hyundai dealerships in Vermont to Hoffman Auto Group. Both dealerships rank #1 in Vermont for their respective franchises and boast strong customer loyalty. This transaction marks Kerrigan Advisors’ 288th and 289th dealerships sold since inception, and 56th multi-dealership transaction, furthering Kerrigan Advisors’ position as the leading advisor to highly valuable dealer groups across the nation.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Lou Sobh Automotive Group in the sale of its Kia of Cerritos dealership in California to Trophy Automotive Dealer Group. This transaction represents Kerrigan Advisors’ 287th dealership, and the 20th Kia franchise the firm has sold since 2015, including five of the top 15 volume Kia stores nationwide. Kia of Cerritos is the second highest volume Kia dealership in the US and is located in the country’s largest auto mall, Cerritos Auto Square.

The auto dealership buy/sell market delivered another record year of buy/sell activity with 438 completed dealership transactions, up 10% compared to 2023, according to the just-released 2024 Annual Blue Sky Report® by Kerrigan Advisors. For the year, 697 franchises were sold, the highest number since 2021 and a 2.5% increase from 2023. The strength of the buy/sell market in 2024 was largely driven by growing industry confidence in the future of auto retail sales and profitability.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Ascent Automotive Group in the sale of its Toyota of Greensburg, Pennsylvania dealership, in the Pittsburgh metropolitan area, to Jim Shorkey Auto Group. Ascent Automotive Group is part of The Friedkin Group, a privately held and diverse family of brands and investments in the automotive, luxury, hospitality, and entertainment industries, including Gulf States Toyota. Pittsburgh-based Jim Shorkey Auto Group, founded in 1974, is a family-owned dealership group with 17 stores across the Northeast. The sale represents Kerrigan Advisors’ second Toyota franchise sold this year, and its 286th dealership, 37th Toyota franchise, and 21st franchise in the Northeast sold since inception.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Toyota of Slidell dealership to Tennessee-based Carlock Automotive. This represents the sale of the final of four dealerships in the Bohn Brothers Automotive Group, including Audi of New Orleans, Audi Lafayette, Hyundai Genesis of Metairie and Toyota of Slidell.

The majority of auto dealers maintain a positive outlook on the valuation of their dealerships over the next twelve months as profits normalize, according to the newly released 2024 Kerrigan Dealer Survey. The survey, which queried over 635 auto dealers to gather insights on the future value of their businesses, franchise valuations and acquisition trends, revealed that more than half (51%) anticipate that 2024 valuations will remain at elevated levels into 2025, while 17% foresee an increase in valuations.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Northern Virginia-based Country Auto Stores in the sale of Country Buick GMC of Leesburg in Loudoun County to Jaffer Syed. In addition to being the 80th franchise Kerrigan Advisors has sold in 2024, the completion of this transaction represents Kerrigan Advisors’ 54th franchise sold in the Mid-Atlantic region and its 284th dealership transaction since 2014.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Hyundai Genesis of Metairie dealership to Matt Bowers Auto Group following the successful sale last month of its Audi Lafayette dealership. Matt Bowers Group, owned by Matt Bowers, operates six dealerships located across Louisiana, Alabama, and Tennessee. This transaction represents Kerrigan Advisors’ 283rd dealership and 133rd franchise sold in the South since 2015 and the 79th franchise sold this year.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Audi New Orleans dealership, the #1 Audi dealership in Louisiana, to Charlotte, NC-based Sonic Automotive Group (NYSE: SAH), one of the largest automotive retailers in the United States.

The auto dealership buy/sell market rose to another record high, with 330 dealership transactions completed in the nine months ended September 30, 2024, representing 544 franchises sold, according to the just-released Third Quarter 2024 Blue Sky Report® by Kerrigan Advisors. Up 93% compared to 2019, this market velocity was fueled by more sellers entering the market, as stronger franchises took advantage of historically high blue sky values, while weaker franchises were divested.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented New Orleans-based Bohn Brothers Automotive Group in the sale of its Audi Lafayette dealership to Community Auto Group. Owned by Roger Elswick, Community Auto Group is a premier Honda, Kia, and Toyota dealer based in Houston, Texas.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Conroe, Texas-based Buckalew Chevrolet in its sale to Victoria, Texas-based Keating Auto Group, ranked 17th in Automotive News’ Top 150 Dealership Group list. The completion of this transaction represents Kerrigan Advisors’ 280th dealership transaction since the firm’s founding in 2014, and its 19th Texas franchise sold since 2023. Notably, Kerrigan Advisors leads the Houston buy/sell market, having represented on the sale of 11 franchises in the market in the last 18 months.

Kerrigan Advisors, the leading sell-side advisor and thought partner to auto dealers nationwide, represented Dallas, Texas-based Cowboy Toyota in the sale of its dealership to The CAR Group (also known as Norm Reeves), the 23rd largest US dealership group as ranked by Automotive News. This transaction represents Kerrigan Advisors’ fourth Texas Toyota franchise and 18th Texas franchise sold since May 2023. Kerrigan Advisors has now advised on the successful sale of a major Toyota dealership in each of the largest Texas markets, including Dallas, Houston and San Antonio, as well as Beaumont in the last 18 months.

The auto dealership buy/sell market experienced an all-time record in the first half of 2024, with 204 completed dealership transactions representing 381 franchises sold, according to the just-released Second Quarter 2024 Blue Sky Report® by Kerrigan Advisors. At this rate, transaction activity is nearly double pre-pandemic levels and annualizing at 760+ franchises sold, a new industry milestone.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Memphis, Tennessee-based Sunrise Auto Group in the sale of its remaining dealership, Sunrise Buick GMC Covington Pike, to Memphis-based Jim Keras Automotive. The completion of this transaction represents Kerrigan Advisors’ 277th dealership transaction, including 85 in the Southern region since 2020.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Atlanta-based Asbury Automotive Group (NYSE: ABG) in the sale of Nalley Chevrolet in Union City, a suburb of Atlanta, Georgia, to ALM Automotive Group. This transaction represents Kerrigan Advisors' 276th dealership sold since inception and 70th franchise sold year-to-date.

Kerrigan Advisors, the leading sell-side advisory firm and thought partner to auto dealers in the U.S., today announced that Chris Gempton has joined the firm as Senior Vice President, Sell-Side Advisory. Gempton brings nearly two decades of automotive experience, including 13 years at AutoNation (NYSE: AN), where he most recently served as Vice President of Corporate Development. Gempton will open Kerrigan Advisors’ Florida office in Midtown Miami to serve Kerrigan Advisors’ clients in the Southeastern U.S., which continues to be a very active market for dealership buy/sell transactions.

Automotive OEMs are generally optimistic about the health of the automotive industry over the next 12 months, with the vast majority expecting new vehicle sales to increase or remain the same versus 2023, according to the just-released 2024 Kerrigan OEM Survey.

The auto dealership buy/sell market experienced another record quarter with 109 completed dealership transactions completed in the first quarter of 2024 representing 233 franchises sold, up 38% compared to the first quarter of 2023, according to the just-released First Quarter 2024 Blue Sky Report® by Kerrigan Advisors. This was driven by an increase in the number of sellers coming to market, without a concomitant rise in buyers, transitioning the 2024 buy/sell market in favor of buyers for the first time since the pandemic. At this pace, Kerrigan Advisors expects the 2024 buy/sell market to exceed 400 transactions.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented the Toomey family in the sale of Alamo Toyota in San Antonio, Texas to Shottenkirk Auto Group and Tejas Toyota in Houston, Texas to Vaughan Automotive. With the completion of these transactions, Kerrigan Advisors has represented on the sale of 47 Toyota/Lexus dealerships since 2014 (14 in the last 12 months) and 17 Texas-based franchises in the last year, making the firm the leading sell-side advisor in the state.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Salt Lake City, UT-based Ken Garff Automotive Group, the third largest private dealership group in the US, in its sale of Northwest Chrysler Dodge Jeep Ram “CDJR” to Victoria, TX-based Keating Auto Group. This transaction represents Kerrigan Advisors’ 17th Texas franchise sold in the last 12 months, cementing the firm’s leadership position in the state’s buy/sell market.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Memphis, Tennessee-based Sunrise Auto Group in the sale of Sunrise Wolfchase Buick GMC, the #1 Buick GMC dealership in Memphis, and Sunrise Buick GMC Collierville to Medford, Oregon-based Lithia Motors (NYSE:LAD). With the completion of this transaction, Kerrigan Advisors has represented on the sale of more than 80 franchises in the Southeast since 2020, and more than 65 franchises sold year-to-date.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented California-based Gosch Auto Group in the sale of Gosch Toyota to Kevin Naderi. Gosch Toyota dealership is located in the Hemet Auto Mall, a high-volume, non-luxury car market in California’s fastest growing region, the Inland Empire. This transaction represents Kerrigan Advisors’ 264th dealership and 348th franchise sold since its founding.

The auto dealership buy/sell market experienced a record year of buy/sell activity with 397 completed dealership transactions, up 6% compared to 2022, according to the just-released 2023 Blue Sky Report® by Kerrigan Advisors. This activity included the third largest transaction in auto retail history – the sale of Kerrigan Advisors’ client, Jim Koons Automotive Companies representing 20 dealerships and the addition of $3 billion of revenue to Asbury Automotive Group. Fueled by significant access to capital, auto retail defied the broader corporate mergers and acquisitions (M&A) market, which declined 30% in 2023. In 2023, 680 franchises were sold, an increase of 5.4% compared to 2022.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented College Park, Maryland-based RRR Automotive Group in the sale of its five new car dealerships, including the #1 and #2 volume Honda dealerships in the state of Maryland, to Houston, Texas-based Group 1 Automotive (NYSE: GPI). This transaction underscores Kerrigan Advisors’ industry-leading track record selling the most valuable auto retailers nationwide and marks the 50th franchise sale in the region completed by the firm since 2020. With this transaction, Kerrigan Advisors has represented on the sale of over seven billion dollars on behalf of their dealership clients in just the last nine years, making the firm the leader in auto retail sell-side advisory nationwide.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Charlottesville, Virginia-based Jim Price Auto Group in the sale of Jim Price Chevrolet to Malloy Auto Group, which has operated in the Virginia area since 1992. Kerrigan previously represented Jim Price in the sale of its Hyundai and Kia dealerships in 2023. This marks the 23rd franchise sale in Virginia completed by Kerrigan Advisors since 2020.

The auto dealership buy/sell market hit another impressive record through the third quarter of 2023 with 313 transactions completed — an 11% increase over the same period in 2022, according to the just-released Third Quarter 2023 Blue Sky Report® by Kerrigan Advisors, and is on track for another record year. For the trailing 12 months ending September 2023, the buy/sell market recorded 406 completed transactions, surpassing 2021’s prior peak.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Fresno, California-based Haron Motor Sales in the sale of Haron Jaguar, Land Rover and Volvo to Temecula, California-based Unstoppable Auto Group, owned by Garth Blumenthal. Unstoppable is now comprised of nine new car dealerships across California. Since the firm’s founding, Kerrigan Advisors has sold over 225 dealerships and 52 top luxury franchises. In 2023 alone, the firm is on track to sell more than 70 franchises representing $2.6 billion in client proceeds, making Kerrigan Advisors the leading sell-side advisor in auto retail.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Charlottesville, Virginia-based Jim Price Auto Group in the sale of Jim Price Hyundai and Price Kia to Winston-Salem, North Carolina-based Flow Automotive, which owns dealerships across North Carolina and Charlottesville. Since the firm’s founding, Kerrigan Advisors has sold over 225 dealerships. In 2023 alone, the firm is on track to sell 52 dealerships representing $2.6 billion in client proceeds, making Kerrigan Advisors the leading sell-side advisor in auto retail.

Auto dealers remain generally positive about the valuation of their dealerships over the next twelve months, according to the newly released 2023 Kerrigan Dealer Survey, with 52% expecting 2023’s strong valuations to extend into 2024, and 21% projecting a valuation increase. But, as dealers anticipate that earnings will start to normalize from record-high levels - 38% expect profits to decrease over the next 12 months – more dealers (27%) are also expecting valuations to decrease, the highest level since the survey’s inception in 2019, and almost double 2019 and 2020’s levels.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Mesa, Arizona-based East Valley Nissan, owned and operated by Greg Burk, in its sale to Phoenix, Arizona-based Courtesy Automotive Group. This marks the 207th dealership sale led by Kerrigan Advisors since 2015. It is the sixth Phoenix dealership Kerrigan Advisors has advised on, making the firm the leading sell-side advisor in the market having represented 2/3 of all buy/sell transactions in Phoenix since Q4 2020.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Tampa, Florida-based Stadium Toyota, owned by the Parks and Couey families, in its sale to Bradenton, Florida-based Gettel Automotive, the 57th largest US dealership group. The transaction marks the 206th dealership sold by Kerrigan Advisors since 2015, and the 36th Toyota/Lexus dealership. Kerrigan Advisors is the leading advisor to Toyota and Lexus dealers nationwide, on track to sell six more Toyota/Lexus franchises this year, for a total of 42 sold since 2015.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Hemet-based Gosch Auto Group in the sale of Gosch Ford Escondido to Aaron Automotive Group, led by Vikas Mehandroo. The transaction marks the 203rd dealership sold by Kerrigan Advisors since 2015 and the 32nd franchise sale in 2023, making the firm the most active in the industry.

The auto dealership buy/sell market continues to gain momentum toward a record-breaking year, with 211 transactions completed in the first half of 2023, representing 357 franchises. As reported in the just-released Blue Sky Report® by Kerrigan Advisors, the mid-year 2023 results mean that buy/sell activity has increased 26% since 2022, a rate that exceeds the typical full-year results pre-Covid. There have been a record 418 transactions completed on a trailing 12-month basis, 9% higher than the prior full-year record (2021).

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Los Angeles-based Nick Alexander Imports in the sale of Nick Alexander BMW and Nick Alexander MINI to Renton, Washington-based Car Pros Automotive Group, the US’ 45th largest dealership group and owner of 10 dealerships, including four in Southern California. The transaction marks the 201st and 202nd dealership and 50th top luxury franchise sale since 2015.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Greenville, South Carolina-based MCE Automotive Group, owned and operated by the Escude family, in the sale of their seven dealerships to North Carolina-based Anderson Automotive Group, ranked 71st largest US dealership group in the US by 2022 new unit sales. The transaction includes Toyota of Greer, Kia of Greenville, Kia of Greer, Hyundai of Greer, Genesis of Greer, Nissan of Greer and Mike Hovart Chevrolet and represents nearly $500 million in revenue. This marks the 200th dealership sale led by Kerrigan Advisors since 2015 and the 22nd Toyota dealership sold, making Kerrigan Advisors the most active sell-side advisor to Toyota dealers in the US. With the sale of MCE Automotive Group, Kerrigan Advisors has completed transactions representing over $4 billion in client proceeds since 2020.

Dealership new vehicle gross margins to remain above pre-Covid levels say 90% of automotive OEMS, according to the just-released annual Kerrigan OEM Survey, but the majority believe dealership earnings will still decline over the next 12 months. The survey, gathered from Kerrigan Advisors’ annual survey of automotive OEM executives in conjunction with the issuance of The Blue Sky Report®, indicates that automakers are looking at a ‘new normal’ when it comes to dealership profitability, inventory levels and customer data sharing. The survey also offers a window into how OEMs view the future of electric vehicle pricing, with 68% expecting some change to pricing methodology.

The auto dealership buy/sell market outperformed all previous first quarters on record in 2023, launching into the new year at a robust pace that saw 103 transactions completed — a 43% increase over the first quarter of 2022, according to the just-released Blue Sky Report® by Kerrigan Advisors. The first quarter results mean that a record 405 transactions have been completed in the trailing 12 months ending March 2023, an impressive 5.7% increase over 2021’s prior record and an 82% increase over the 2015-2019 pre-pandemic average of 223. This buyer demand was driven by a continuation of historically elevated industry earnings. Despite earnings declines for most dealers in the quarter — and a 25% drop for the publics — they remained well above pre-pandemic levels due, in part, to higher vehicle gross margins and lower operating costs.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Houston, Texas-based Beck & Masten Auto Group in the sale of Beck & Masten Kia to Houston, Texas-based Group 1 Automotive (NYSE: GPI). This marks the 187th dealership sale transaction led by Kerrigan Advisors since 2015, and 11th Kia dealership sold.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Houston, Texas-based Beck & Masten Auto Group in the sale of Beck & Masten Buick GMC North, Buick GMC South and Buick GMC Coastal Bend to Houston, Texas-based Group 1 Automotive (NYSE: GPI). This marks the 184th, 185th and 186th dealership sale transaction led by Kerrigan Advisors since 2015. Beck & Masten is a dominant auto group in Houston and Corpus Christi, retailing more than 11,700 vehicles in 2022 and representing more than one third of Buick GMC sales in the Houston MSA. The dealerships are amongst the highest volume Buick GMC franchises in Texas and the US, ranking as the #1 Buick GMC dealer in Texas for 22 consecutive years and the #1 Buick GMC dealer in the US six times.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Holman, a global automotive services organization, in its sale of Audi Shawnee Mission to Omaha, Nebraska-based Baxter Auto Group. The dealership, newly built in 2016, is the highest volume Audi dealership in the Kansas City MSA, a growing market with a strong economy and a highly educated workforce. It is also the 5th highest volume luxury dealership in the greater Kansas City metro area.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Beaumont, Texas-based Kinsel Motors in its sale of Kinsel Toyota and Kinsel Ford, Lincoln and Mazda to Houston, Texas-based Doggett Automotive Group. Kinsel Motors recently celebrated its 100th anniversary of being in business in Texas and has been a mainstay in Beaumont since 1944.

The auto dealership buy/sell market experienced its second most active buy/sell year ever in 2022, with a 25% increase in transactions in the first three quarters of the year compared to 2021, and a record 845 franchises sold during that period, according to the just-released Blue Sky Report® by Kerrigan Advisors. However, a dramatic decrease in transactions in the fourth quarter led to a 2.3% decline for the year overall.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented the Winton and Denson families in the sale of Estero Bay Chevrolet to Group 1 Automotive (NYSE: GPI). Estero Bay Chevrolet is the top volume Chevrolet dealership in Southwest Florida, Florida’s second fastest growing region by population growth. With the completion of this transaction, Kerrigan Advisors has successfully advised on the sale of 14 Florida franchises since 2019, making the firm the most active auto dealership sell-side advisor in the state.

Despite significant economic uncertainty, the auto dealership buy/sell market stayed hot in the third quarter of 2022 with a record 281 transactions, according to the just-released Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors. Completed dealership buy/sells increased 25% compared to the first nine months of 2021; and, for the 12 months ending September 2022, the buy/sell market recorded 439 completed transactions – an industry high. During the same time period, the average US dealership earned an estimated $4.24 million, a 205% increase from pre-pandemic levels.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Phoenix, Arizona-based Earnhardt Auto Centers in its sale of Earnhardt Volkswagen in Gilbert-Chandler, and Rodeo Kia in Avondale to Salt Lake City, Utah-based Ken Garff Automotive Group (the 9th largest US dealership group by 2021 new unit sales). Earnhardt Auto Centers is one of the largest US family-owned dealership groups, most recently ranked No. 18 on Automotive News’ list of the Top 150 Largest US Dealership Groups.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Lasher Auto Group in its sale of five dealerships: Elk Grove Acura, Audi, Chrysler, Dodge, Jeep, Ram (CDJR), Subaru, and Volkswagen to Knight Automotive Group. The Lasher Auto Group dealerships are among the area’s highest volume dealerships, including Elk Grove CDJR, which is the 3rd and 14th highest volume CDJR dealership in California and the US, respectively, as well as Elk Grove Subaru, the highest volume Subaru dealership in Sacramento based on 2021 new unit sales.

Auto dealers’ optimism about the valuation of their dealerships remains strong headed into 2023, according to the newly-released 2022 Kerrigan Dealer Survey, with a majority expecting record valuations to remain steady or increase over the next 12 months (80%) and just 20% projecting a decline in valuation.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Spartan Auto Group and the Criscuolo family in its sale of Toyota and Lexus dealerships in Central and Southeastern Michigan: Spartan Toyota in Lansing, Wolverine Toyota in Dundee, Lexus of Ann Arbor, and Lexus of Lansing. The dealerships were sold to the Germain Automotive Partnership (Spartan Toyota, Wolverine Toyota, Lexus of Ann Arbor) and Serra Automotive (Lexus of Lansing). Serra Automotive is the 12th largest US automotive group. The transactions mark the 12th & 13th Lexus and 19th and 20th Toyota dealerships sold by Kerrigan Advisors since 2015, making the firm the leading sell-side advisor to Toyota and Lexus dealers in the industry.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Baxter Automotive Group in its sale of four Chrysler Dodge Jeep Ram dealerships (CDJR): Baxter of Omaha, Baxter of Papillion, Baxter of Bellevue, Baxter of Lincoln. The dealerships were sold to a partnership of Edwards Auto Group, Sid Dillon Auto Group and H&H Automotive.

Kerrigan Advisors, the premier sell-side advisory firm to auto dealers in the US, represented and advised Sun Motor Cars of Chicago, owned by Daniel Sunderland and David Nocera on the sale of Mercedes-Benz & Sprinter of Orland Park and the scheduled sale of Mercedes-Benz of Bourbonnais to Illinois and Florida-based Fields Auto Group, one of the largest private dealership groups in the nation. This transaction marks Kerrigan Advisors’ 161st and 162nd dealership sale since its founding in 2015 and the firm’s fifth multi-dealership transaction in 2022. With this sale, Kerrigan Advisors remains the most active sell-side advisor to the highest-value transactions in auto retail.

The auto dealership buy/sell market continued its record-breaking activity despite economic headwinds during the second quarter of 2022, up 16% compared to 2021, according to the just-released Blue Sky Report® by Kerrigan Advisors. There were 167 dealership buy/sell transactions reported in the first half of 2022, resulting in 406 transactions for the trailing twelve months ending June 20221 – a new industry high.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Shreveport, Louisiana-based Holmes Auto Family in the sale of Holmes Honda Shreveport and Holmes Honda Bossier City, among the highest volume dealerships in Louisiana, to Houston, Texas-based Community Auto Group, and Mercedes-Benz and Sprinter of Shreveport, Jaguar Land Rover Shreveport and Holmes Volvo Cars of Shreveport to Group 1 Automotive (NYSE: GPI). The sale of the Holmes group marks the 160th dealership sale led by the Kerrigan Advisors team since its founding in 2015. Kerrigan Advisors, which focuses exclusively on sell-side representation, is the most active sell-side advisor on the highest value transactions in the auto retail industry and has advised on the sale of 17 Honda dealerships and 29 multi-dealership transactions since 2015.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Alan Jay Automotive Network in its sale of Alan Jay Toyota in Sebring and Maserati & Alfa Romeo of St. Petersburg in Florida. Alan Jay Toyota was sold to the Doherty Automotive Group of Lakeland, Florida; the Maserati and Alfa Romeo dealerships were sold to Qvale Auto Group of West Palm Beach, Florida.

The auto dealership buy/sell market is off to a powerful start in the first quarter of 2022, significantly outpacing the first quarter of 2021, according to the just-released Blue Sky Report® by Kerrigan Advisors. The 72 dealership buy/sell transactions reported in the first quarter resulted in a record 389 transactions1, representing 829 franchises, for the twelve months ending March 2022. During the quarter, average dealership blue sky values increased to a new record of $11.5 million, an improvement of 4.6% over the end of 2021, mostly driven by a continued rise in quarterly dealership profits, which surpassed the first quarter of 2021 by an estimated 27%.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Fuccillo Automotive Group in the sale of Fuccillo Kia of Clermont to Florida’s Morgan Automotive Group, one of the fastest growing and largest private dealership groups in Florida.

The auto dealership buy/sell market set new records again in 2021 as the continuing, and transformative, impact of the pandemic drove change across the auto dealership business model, according to the just-released Blue Sky Report by Kerrigan Advisors. Unprecedented dealership earnings and blue sky valuations in 2021, says the report, helped fuel a historic 383 completed transactions in 2021, a 32.5% increase from 2020’s prior record and a 71.7% increase over the 2015-2019 pre-pandemic average1. Of note in this pivotal year for the auto industry, the public auto retailers were especially acquisitive, adding 246 dealerships, compared to just 29 in 2020, a shift that, according to the report, indicates a quickening of industry consolidation in the coming years.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Hitchcock Automotive in its sale of three high-volume Toyota dealerships in Southern California.

The auto dealership buy/sell market is on track for another record year as it continued its momentous pace in the third quarter according to the just-released Third Quarter 2021 Blue Sky Report® by Kerrigan Advisors, the industry authority on dealership valuation and buy/sell trends. In the third quarter, there were 81 dealership buy/sell transactions completed for a total of 225 transactions1 for the first three quarters of the year, a 21% increase over 2020’s previous record. Kerrigan Advisors projects that 2021 will finish with over 350 transactions, a new industry high.

Kerrigan Advisors represented Continental Motors in its sale of Continental Honda of Countryside, Illinois to Chicago-based Gerald Auto Group. This sale marks the third transaction for Continental Motors that Kerrigan Advisors has represented since 2019 and the 143rd dealership sale led by the Kerrigan Advisors team since 2015. Kerrigan Advisors, which focuses exclusively on sell-side representation, is the most active sell-side advisor on the highest value transactions in the auto retail industry.

Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Stevinson Automotive, the largest privately-owned dealership group based in Denver, Colorado, in the sale of its eight dealerships to Asbury Automotive Group. The transaction includes Porsche Littleton, Lexus of Frederick, Lexus of Lakewood, Stevinson Toyota East, Stevinson Toyota West, Hyundai of Longmont, Stevinson Chevrolet and Stevinson Imports (Jaguar).

Auto dealers’ optimism about the valuation of their dealerships has doubled year-over-year, according to the newly-released, 2021 Kerrigan Dealer Survey, with the vast majority expecting their already record profits to continue to rise in 2022.

Kerrigan Advisors represented Baltimore, Maryland-based Priority 1 Automotive Group in its sale to AutoNation on November 8, 2021. The acquisition is one of the largest completed by AutoNation since 2018, and the largest on record in the Mid-Atlantic region. Kerrigan Advisors, which focuses exclusively on sell-side representation, is the most active sell-side advisor on larger transactions in the auto retail industry.

The auto dealership buy/sell market has hit yet another historic high, with 320 transactions completed in the 12-month period since the economy re-opened in June 2020, according to the Second Quarter 2021 Blue Sky Report® by Kerrigan Advisors, the industry authority on dealership valuation and buy/sell trends. Mostly driven by today’s unprecedented dealership profits, values for auto dealerships were at record levels, reaching an average of $9 million of blue sky per dealership for Q2, with 2021 on track to be the most active buy/sell year in history.

Kerrigan Advisors represented Earnhardt Auto Centers in the sale of Earnhardt Kia in Phoenix, Arizona and Rodeo Hyundai in Surprise, Arizona to Ken Garff Automotive Group. These transactions are Ken Garff’s first dealership acquisitions in the Arizona market. A long-time fixture in the western US, Earnhardt Auto Centers was named by Automotive News as the 23rd Largest Dealership Group in the US by 2020 new unit sales. Notably, this transaction marks the 11th top 150 dealership group advised by Kerrigan Advisors since 2015.

Kerrigan Advisors, a leading sell-side advisory firm and thought leader to auto dealers in the US, represented and advised Fuccillo Automotive Group in its sale of Fuccillo Nissan of Clearwater to Florida’s Morgan Auto Group. With this transaction, Kerrigan Advisors has sold five Florida dealerships on behalf of the Fuccillo family since December 2019. The sale of Nissan of Clearwater is the 121st dealership sale led by the Kerrigan Advisors team since 2015 and the firm’s 9th dealership sale in Florida in the last 28 months, cementing Kerrigan Advisors’ position as the most active advisor in the state.

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented owner Ron Bubar in the sale of Grand Junction Subaru and Grand Junction Volkswagen in Grand Junction, Colorado to Sonic Automotive (NYSE: SAH).

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented Lithia Motors (NYSE: LAD) in the sale of Audi Valencia to Ghreiwati Auto Group, owner of Surf City Nissan and Corona Nissan of Southern California.

The auto dealership buy/sell market once again set records in 2021, a result of a unique confluence of market factors that resulted in 66 completed transactions, up 20% quarter over quarter, according to the First Quarter 2021 Blue Sky Report® by Kerrigan Advisors. This capped 12 months of consolidation activity that resulted in an unprecedented 300 completed transactions. In Q1, most dealerships, regardless of location, franchise and facility, continued to achieve historic profit levels, lifting the valuations of all franchises to new highs. Kerrigan Advisors’ estimate of the average dealership’s blue sky value is now $8.5M, a 10% increase as compared to 2020, and a rise of 33% from 2019.