Earnings continue to exceed historical levels, according to the most recent Haig Report.
Sale sets record for the highest blue-sky value ever paid for a single dealership, regardless of franchise.
Dealership profits have peaked due to rising interest rates, inflation, and low consumer confidence, but they are still 2.4x higher than before the Pandemic.
As a part of this transaction, Lithia also acquired Esserman International which consists of Esserman Acura and Esserman VW in Doral, FL.
The report explains how dealership profits have tripled along with demand from dealership groups that want to acquire more stores.
Highlights include a significant spike in dealership profits and skyrocketing demand from dealership groups that want to acquire more stores.
Haig Partners’ Q2 report charts an astonishing 60% drop in buy/sell activity among U.S. auto dealerships and finds privately held stores and groups are increasingly focused on pre-owned sales.
Haig Partners announced the addition of John Davis, former partner with DHG Dealerships, as managing director.
A survey of Automotive News’ top 150 U.S. auto retailers finds per-copy averages grew 4.6% to $1,482 in 2018, fueling a 7.5% increase in total F&I revenue.
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