KSA Industries Sells Stores, Exits Auto Business
Diversified holdings company believed to be raising cash to help fund new Nashville stadium.
The dealerships changed hands in two separate transacations, two in April and one in May.
IMAGE: Alena Darmel, Pexels
This past spring, diversified holdings company KSA Industries Inc. sold its three Texas dealerships in two transactions, indicating the company that also owns the National Football League's Tennessee Titans has exited the automotive retail business.
Two Lincoln stores were sold on April 6 by KSA Industries. Chris Poulos bought West Point Lincoln and West Point Lincoln of Sugar Land in Houston, transitioning from general manager to owner in the process. He kept the dealership names the same.
In a second transaction, KSA Industries sold West Point Buick-GMC in Houston on May 2 to Tom Durant, owner of Classic Auto Group. He renamed the store Classic Elite Buick-GMC.
KSA Industries, a privately held family business, was founded by Bud Adams, who died in 2013.
It is believed that KSA Industries Inc. is raising cash following approval in April to build a $1.9 billion Nashville stadium to replace Nissan Stadium. A combination of private and public funding will finance the new stadium.
Bank of America provided guidance to KSA Industries in the transactions.
Originally posted on Auto Dealer Today
More Showroom
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →
My Mercedes in the U.S.
The German brand debuted its studio dealership concept for the first time in the states in Los Angeles, tapping Americans’ penchant for creative distinctions.
Read More →
Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
Read More →
California Launches EV Rebate Program
Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.
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 →
The Trade-In Paradox
Retailing older cars with confidence in today’s market is a matter of establishing and following a clear process that can turn greater profit for auto dealers as they aim to meet used-unit hunger.
Read More →
Focus on Vehicle Cabins
The market for interior materials will grow in coming years as automakers look to meet consumer demand while staying competitive with changeups to sourcing and included features.
Read More →