Ohio Dealership Sells
Growing group picks up Toyota store in Midwest expansion push.
Toyota of Warren encompasses more than 25,000 square feet on five acres and includes a parts and service center with 18 bays.
Toyota of Warren
A Canada-based auto group picked up an Ohio Toyota dealership in a deal that retains both the store’s name and employees.
Rafih Auto Group in Ontario acquired Toyota of Warren in the dealership’s namesake northeast Ohio city, which sits in the northeast corner of the state.
The transaction was brokered by Tim Lamb Group for seller Jim Whetstone Auto Group, which will continue operating its remaining dealerships in Ohio and New York.
Rafih Auto now has 27 dealerships among 30 brands. The latest acquisition is its first U.S. Toyota store and is part of its growth in the Midwest states of Ohio and Michigan.
Toyota of Warren encompasses more than 25,000 square feet on five acres and includes a parts and service center with 18 bays.
Jim Whetstone Auto Group bought the first dealership that the Tim Lamb Group sold after its 2006 founding. The latest transaction marks the broker’s 120th deal in Ohio.
Originally posted on Auto Dealer Today
More Industry
Structure Leads to Optimized Auto Listings
As the average car-buying journey has shifted to a blend of digital and retail, a dealership’s vehicle listings must be optimized to answer shoppers’ questions clearly and accurately.
Read More →
Consumers Mixed on Economy, Finances
A July survey shows spotty sentiment of current and future conditions, in addition to demographic differences as overall opinion of present circumstances kept sliding.
Read More →
EVs Closing the European Gap
Electrified powertrains led June new-vehicle sales in Europe, reaching 26% of the market.
Read More →
Early Intervention Saves Retention
Sales and service departments have the highest annual dealership turnover rates, according to a new industry report, costing money and time that could be better spent elsewhere.
Read More →
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →