Dream Motor Group Acquires Alabama Dealerships
Toyota and Lexus join its growing lineup
The sale marks the first Toyota and Lexus stores Dream Motor Group has acquired.
Pinnacle Mergers & Acquisitions
Luxury and performance-focused Dream Motor Group acquired two Alabama auto dealerships in a $151 million deal brokered by Pinnacle Mergers & Acquisitions.
Toyota of Montgomery and Lexus of Montgomery were sold by Sutherlin Automotive Group, which has operated in the Southeastern U.S. since 1972. Sutherlin made multiple changes to the capital-city stores during its ownership, including modernization of sales and service operations, leadership realignment, customer satisfaction index performance improvements, and expanded fixed operations capacity, Pinnacle said.
“We are extremely proud of the teams at these stores and the results they delivered,” said Sutherlin Auto CEO Brett Sutherlin.
Dream Motor Group is led by former University of Alabama football coach Nick Saban and automotive executive Joe Agresti. The sale marks Dream's first Toyota and Lexus dealerships and brings its total rooftop count to 11.
The sale left Sutherlin Auto with two Subaru locations, though it expects to make further acquisitions in the near future, according to Pinnacle.
More Industry
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →
Find Efficiency in Fixed Ops
A new report shows how service departments can maximize their profitability through efficiency, productivity and the right tools in technicians' hands.
Read More →
Closing the Seat Gap
Mass-market brand vehicle seats are outpacing luxury versions when it comes to customer satisfaction, according JD Power research.
Read More →
Auto Industry Execs Talk Trade, Tariffs
Participants in a U.S.-Canada discussion tallied the costs and compiled a list of remedies, including preservation of the North American trade agreement that the U.S. recently declined to renew.
Read More →
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 →
Texas Dealerships Rebranded After Sale
The Norm Reeves group of stores had owned the three rooftops in the greater Dallas-Fort Worth metro area that now operate under a homegrown group’s signature.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
All on One Team
Since finance-and-insurance was added to the auto dealership, most stores’ F&I teams have been separated from sales like a car’s trunk is separated from the engine. It doesn’t have to – and shouldn’t – be that way.
Read More →
Auto Dealers Have Some Phone Homework
A midyear study found that stores can do a better job of converting both inbound and outbound calls into customer appointments for increased sales.
Read More →
Hyundai Ventures Aim for Deeper AI Dive
The automaker announced partnerships with several technology industry leaders to pursue an ambitious plan for integrating AI into its manufacturing and well beyond automotive.
Read More →