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
Parts Delivery Takes Flight
A Detroit auto group has launched an autonomous parts-delivery program using drone technology, thanks to a grant from Michigan’s Advanced Air Mobility Activation Fund.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →
NY Advances Charging Infrastructure
Public EV charging in New York is getting a boost with a new program designed to help public entities cut purchase and installation costs of Level 2 charging stations.
Read More →
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 →