Another top-10 U.S. auto group has picked up a grouping of dealerships in a major metropolitan area.

Lithia Motors purchased two franchises each of the Hyundai and Kia brands in Memphis, in a deal brokered for the seller by Kerrigan Advisors.

Bought from Gossett Motor Cars, the collection more than doubles Lithia’s Memphis presence. The stores make up two of the three Kia franchises and two of the four Hyundai dealerships in the Memphis metro area, according to Kerrigan.

The firm pointed out Hyundai and Kia’s recent growth as strong selling points for the brands.

“Rising demand for Kia dealerships led us to raise Kia’s valuation multiple in both the first and second quarters of 2026 in The Blue Sky Report,” said founder and Managing Director Erin Kerrigan. “Business-friendly and growth markets increasingly drive blue sky value premiums, which bodes well for markets like Tennessee.”

Gossett still operates eight dealerships among other brands. The family-owned group was founded in 1985 and is the largest privately held auto group in Memphis, Kerrigan said.

Al Gossett, founder and CEO of the group, said the sale of the South Korean brands' franchises was strategic on his part.

“It allows our team to focus our efforts on our remaining eight dealerships, and Lithia’s recent expansion in Memphis made them the right partner for our Kia and Hyundai stores,” he said. “We are confident our employees and customers are in great hands with Lithia.”