Fox Motors of Grand Rapids, Mich., mentioned it acquired three Ken Garff Automotive Group dealerships within the Detroit space on Monday, persevering with the corporate’s transfer into the southeast Michigan market that started in December.
The deal between two of the nation’s largest dealership teams contains one Cadillac and two Stellantis dealerships and marks Ken Garff Automotive’s obvious exit from Michigan. Terms of the transaction weren’t disclosed.
The Stellantis dealerships, previously Southfield Chrysler-Dodge-Jeep-Ram and Telegraph Chrysler-Dodge-Jeep-Ram in Taylor, Mich., will now function as Chrysler-Dodge-Jeep-Ram of Southfield and Chrysler-Dodge-Jeep-Ram of Taylor, respectively.
Cadillac of Novi will proceed to function beneath the identical identify. It marks a brand new luxurious model for Fox Motors.
Ken Garff Automotive of Salt Lake City ranks No. 9 on Automotive News‘ record of the highest 150 dealership teams primarily based within the U.S., retailing 58,787 new automobiles in 2021. Fox Motors ranked No. 76 on that record, retailing 13,244 new automobiles final yr.
Fox Motors now could have 5 dealerships in suburban Detroit, following its acquisition of Erhard BMW of Farmington Hills and Jaguar-Land Rover Farmington Hills from the Dahm household in December.
“The plan was to grow in metro Detroit after we entered last December, we just didn’t know how quickly it would happen,” Daniel DeVos, CEO of Fox Motors, mentioned in assertion. “The three new locations are a natural fit, given the location of our current Fox Motors dealerships.”
Fox Motors has greater than 30 dealership places in Michigan and Illinois.
Jaguar-Land Rover Farmington Hills is slated to relocate within the fall to a brand new facility throughout the road from Cadillac of Novi, which Fox Motors says will create a “luxury destination” for that space.
Source: www.autonews.com