Car-Mart, Group 1 Acquire New Dealerships
Bentonville, Ark. and HOUSTON—America's Car-Mart recently announced the opening of its newest location in Cullman, Ala., while Group 1 Automotive reported it has acquired Performance Nissan in Duarte, Calif., according to AutoRemarketing.com.
Bentonville, Ark. and HOUSTON—America’s Car-Mart recently announced the opening of its newest location in Cullman, Ala., while Group 1 Automotive reported it has acquired Performance Nissan in Duarte, Calif., according to AutoRemarketing.com.
Car-Mart said the new location is the fourth dealership opening since the company’s fiscal year began on May 1, and brings the company’s total to 89 stores.
Group 1 executives said their latest acquisition is one of the highest volume Nissan dealerships in the country, ranking 14th for the first six months this year for the automaker’s sales. The store is expected to generate $135.6 million in estimated annual revenues.
Group 1 has also purchased a Buick franchise in Oklahoma City, which will be operated out of Group 1’s Bob Howard Pontiac-GMC dealership. The company sold its Buick franchise in Tulsa, Okla., so that it could be acquired by an existing Pontiac-GMC dealership in the area.
Group 1 has acquired seven franchises with total estimated revenues of $403.2 million toward its $500 million full-year target.
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