Big Dealership Buy Is Biggest So Far This Year
Safford acquires 16 stores in Maryland, Virginia.
Automotive News ranked Safford Automotive 104th on its most recent top-150 U.S.-based groups.
IMAGE: Safford Automotive Group
A 16-store acquisition in Virginia tops the dealership deals done to date this year.
Safford Automotive Group picked up the stores in Maryland and Virginia from Brown Automotive Group, more than doubling its store count.
The stores break down among two Honda, two Hyundai and two Nissan dealerships, three Mazda stores, and single Chrysler-Jeep-Dodge-Ram; Kia Subarua; Toyota; and Volkswagen dealerships, plus a used-car location and a classic car and auto shop, according to Automotive News.
Brown Automotive executives are moving to Safford’s management team. The newly combined organization will be named Safford Brown Automotive Group.
Automotive News ranked Safford Automotive 104th on its most recent top-150 U.S.-based groups, based on 2021 retail sales of new vehicles of 9,847.
READ MORE: Fewer Dealers Look to Buy, See Profits Rising While More See Their Value Falling
Originally posted on Auto Dealer Today
More Industry
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →