Tennessee Dealership Changes Hands
Sale is last of auto group that operated Memphis-area stores for decades.
The recently sold Memphis store is the second-highest volume Buick GMC store in the metro area.
General Motors
A Tennessee-based automotive group sold its last dealership after more than 30 years in business.
The last of Memphis-based Sunrise Auto Group’s three stores, Sunrise Buick GMC Covington Pike, to Jim Keras Automotive, also based in Memphis.
Sell-side firm Kerrigan Advisors represented Sunrise in the transaction, in addition to the sale of its other two stores.
Sunrise was founded by Bob Berkheimer. Before the recent deal, Keras Automotive had six dealerships between Tennessee and Missouri among Chevrolet, Chrysler-Dodge-Jeep-Ram, Nissan and Subaru.
The growing market of Memphis is the Southeast’s third biggest metropolitan area, Kerrigan said, and the Sunrise store generates its second highest sales volume of any Buick GMC dealership.
“Based on our analysis, we expect the strength in the Southern buy/sell market to continue,” said Kerrigan founder and Managing Director Erin Kerrigan in a press release on the sale. The firm said it’s handled 85 dealership sales there since 2020.
AUTO GROUP ANNIVERSARY: Holman Celebrates 100 Years of 'Driving What's Right'
Originally posted on Auto Dealer Today
More Industry
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Auto Nameplate Loyalty Holds in Tough Times
Consumers have been faithful to brands despite financial pressures, and JD Power says that’s because automakers have made some wise moves.
Read More →
Top New Jersey RV Store Sells
Myer’s RV Superstore is expanding its footprint in the state with two new locations that it acquired from Ed Hutchinson Jr.
Read More →
Alliance Analyzes Technician Pipeline
A new industry report examines the state of skilled trades in the U.S. and details the drivers of demand for automotive repair and how technicians enter and grow in the workforce.
Read More →
Luxury Rooftop Changes Hands
Genesis of Glenview is getting a new owner and a new location, but its name will stay the same.
Read More →
Future-Proof Your Business
A new industry outlook details several ways that automotive companies can use the rise in artificial intelligence and advanced technologies to their advantage.
Read More →
Dealership Buy-Sells Keep Going Up
First-half transactions reflect continued high appetite for acquisitions despite falling profits, the most sought-after franchises bringing record prices.
Read More →
California Makes Electric Moves
New laws in the Golden State aim to advance consumer access to public electric-vehicle chargers and reduce costs and barriers to its infrastructure.
Read More →
Rare Earths Independence
Automakers seek alternatives to sourcing battery raw materials in volatile markets roiled by trade wars and disrupted supply chains.
Read More →