Companions expanded their Typical Motors retailer counts by two, which includes getting a dealership from general public car retailer Lithia Motors Inc., while other sellers and teams expanded their dealership holdings in individual third-quarter and fourth-quarter discounts.
This is a appear at the deals involving domestic and import dealerships and stores in Ohio, Michigan, Missouri, Iowa and Virginia.
Just one transaction associated an car retailer ranked on the Automotive News checklist of the top 150 dealership groups.
Associates purchase two Midwest Chevy suppliers, including a single from Lithia Motors
Stephen Shane, Seth Severin and Kevin Chernikoff ordered two Chevrolet merchants in the past 5 months — a person in Ohio and an additional in Michigan that was owned by Lithia Motors for just about a year.
The three partners on July 26 bought Mathews Chevrolet-Buick in Bucyrus, Ohio. The retail store, renamed Chevrolet of Bucyrus, was procured from Tim Mathews, Tom Weston, Dave Columber and Doug Moore, explained Shane, dealer principal of the Bucyrus dealership.
The Bucyrus retailer will no extended offer Buick cars. Shane and his partners sold the Buick franchise back again to Typical Motors simply because the brand’s electric car system does not make feeling for the rural market the shop is in, he claimed. Bucyrus is north of Columbus, Ohio.
Shane, Severin and Chernikoff have been company partners for 14 yrs, Shane reported. They co-very own various GM dealerships in Ohio and a Stellantis retailer in the state as well.
The 3 companions ended up joined by Shane’s wife, Shelly Shane, in paying for Suburban Chevrolet of Clinton in Michigan, from Lithia, on Nov. 14, Stephen Shane stated. The retailer marks Severin, Chernikoff and the Shanes’ 1st dealership in Michigan.
Chevrolet of Clinton is one of 34 shops acquired by Lithia in its April 2021 purchase of Michigan’s Suburban Collection.
The rural market that Shane, Severin and Chernikoff work in was a factor in equally current purchases, Stephen Shane reported. The Bucyrus retailer produces what Shane described as a square geographical place with the partners’ other Ohio shops.
“It form of leaves us to exactly where we individual almost all the GM stores, other than a few, for about 150 sq. miles likely, just for the reason that we have that whole perimeter,” he explained to Automotive News.
Lithia, of Medford, Ore., ranks No. 2 on the Automotive News list of the top rated 150 dealership groups based mostly in the U.S., retailing 260,738 new cars in 2021.
The Tim Lamb Group, a get-market business in Columbus, represented the seller in the Ohio acquisition.