Sale is last of auto group that operated Memphis-area stores for decades.
More have moved away from agency model plans but see themselves taking more active role in customer relationships, Kerrigan Advisors poll finds.
Sellers flock to market to take advantage of still-high valuations, Kerrigan Blue Sky Report says.
Kerrigan Advisors’ survey of OEM executives uncovers their views on profitability, days’ supply, and the agency sales model.
Kerrigan Advisors finds buy/sell market hit a new high and is on track for another record year.
High number anticipate business values will fall, finds Kerrigan Dealer Survey.
MCE Automotive Group sold dealerships to North Carolina-based Anderson Automotive Group.
According to Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors, dealership buy/sells increase 25% YoY as auto retailers overcome economic headwinds to achieve a 205% increase in earnings compared to pre-pandemic averages.
Most survey respondents predict their profits will be flat or rise, though fewer expect an increase.
Despite negative economic headlines and a volatile stock market, auto retailers continued their expansion through acquisition, with buy/sells increasing 16% YOY, despite spending pullbacks by public retailers, according to the Second Quarter 2022 Blue Sky Report® by Kerrigan Advisors.
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