Stopnitzky stated there’s “always a unique buyer” for a single franchise standalone retailer.
“Every buyer will value the same opportunity differently based on the uniqueness of the opportunity and how it may be a strategic fit for the group,” Stopnitzky stated. “We just sold a single-rooftop standalone Subaru dealership in Tucson, Ariz., and we sold it to Gee Automotive group with stores in Idaho, Oregon and Washington. This was their first venture out of the Northwest. That single-rooftop store was a top-performing Subaru dealership, and it was able to bring Gee Automotive Group into Arizona.”
Strong relations between sellers and producers can also have an effect on purchaser demand for sure manufacturers, based on Alan Haig, president of Haig Partners, a buy-sell agency in Fort Lauderdale, Fla.
“Many dealers told us that Toyota separated itself, distinguished itself during the pandemic, for the quality of information they provided to their dealers, to allow dealers to plan and act: ‘Here’s what you can expect to receive this month in terms of number of new units. Here’s what you can expect to receive in the next quarter,’ ” stated Haig, whose agency was concerned within the sale of six Toyota dealerships over the previous yr. “And that allowed dealers to plan. And I think that there’s always been a very high spirit of partnership between Toyota-Lexus and its dealer body.”
Toyota’s product portfolio is also getting brisker with redesigns of its Tundra full-size pickup and Sequoia giant SUV, and the introduction of its bZ4X crossover EV.
“They have cars, they have trucks,” Haig stated. “You can spend $30,000 on a Toyota or $90,000. They have a really big range and they’re very profitable businesses. So just about every dealer in the country would love to add a Toyota store to their business, their group.”
Schmidt stated widespread automobiles, facility initiatives and having loads of house owners within the dealership community at retirement age can drive gross sales of specific model shops.
“We’re seeing a lot more interest in Kia and Hyundai, for example,” Schmidt stated.
Schmidt stated facility initiatives, “particularly by Hyundai, are driving a lot of Hyundai dealers to consider selling. It’s a big expense. A very, very large portion of Hyundai dealers are not at the current factory required facility initiatives.”
Melissa Burden contributed to this report.
Source: www.autonews.com
