Hello Auto, Sewell Automotive Cos. buy dealerships; Lithia sells Nissan store

Two dealership groups expanded in California and Texas, respectively, with Oct transactions, although publicly traded vehicle retailer Lithia Motors Inc. bought a Nissan keep this thirty day period.

This is a glimpse at the promotions involving import and luxury dealerships.

Lithia dealership divestiture
Lithia Motors Inc.
has divested another dealership from the Carbone Car Group, which it acquired in 2016.

Lithia on Oct. 5 offered Carbone Nissan in Yorkville, N.Y., to Steet Ponte Car Group of Yorkville, in accordance to DCG Acquisitions, a Dave Cantin Team enterprise that taken care of the transaction. The Steet Ponte group, with retailers in central New York, is owned by Steve Ponte Sr. and Joe Steet Sr.

The shop was renamed Steet Ponte Nissan. This is Steet Ponte’s seventh new-auto dealership and very first Nissan retail outlet, according to its web page. The team dates again to 1945.

“We are very fired up to increase Nissan to our lineup of dealerships,” Joe Steet Jr., director of revenue for the team, explained in a statement. “It is really a sturdy brand with a fantastic pursuing and we are thrilled to bring our stage of shopper service and household-friendly environment to this new retail store.”

Lithia acquired Carbone Car in 2016 in a nine-dealership acquisition. Carbone Nissan is the 2nd of that group of dealerships that Lithia has bought this yr. In Could, Lithia sold Carbone Hyundai, also in Yorkville, N.Y., to Frank Mastrovito.

Brian Traugott and Brian Brown of DCG Acquisitions were being the brokers on the offer.

Lithia, of Medford, Ore., ranked No. 3 on Automotive Information‘ most the latest checklist of the top rated 150 dealership teams dependent in the U.S., retailing 171,168 new autos in 2020. But Lithia’s April acquisition of Michigan’s Suburban Collection tends to make it the second-biggest team likely forward.

Howdy Automobile grows in California
Good day Automobile Group of Valencia, Calif., has procured Mazda and Subaru dealerships in Temecula, Calif., boosting the group’s presence in the southern portion of the point out.

Hello there Automobile on Oct. 4 acquired John Hine Temecula Mazda and John Hine Temecula Subaru from vendor John Hine Jr. Temecula is about an hour’s push north of San Diego.

The shops were renamed Hello there Mazda of Temecula and Hi there Subaru of Temecula.

“John Hine and his dealerships have been mainstays in the Temecula community for many years,” Karl Schmidt, president of Hello Automobile, mentioned in a statement. “We look ahead to carrying on the Hine custom and expanding the bond with the nearby automotive neighborhood.”

Hine shut his longtime Mazda dealership in San Diego final thirty day period and bought the house to Carvana Co., in accordance to The San Diego Union-Tribune. Hine opted to sell as an alternative of paying hundreds of thousands of pounds on a facility improve, he advised the newspaper.

Hello Car by now operates Mazda and Kia dealerships in Valencia, north of Los Angeles. Subaru awarded the group a new place and a Subaru dealership is below building in Valencia. It really is slated to open up in early 2022. The group also was awarded a Mazda level in San Diego, explained Chris Morris, vice president of operations for Hello Auto, who additional that a momentary Mazda facility would be open although it builds a new retail store.

Hello Vehicle also has a Toyota dealership in Baxter, Minn.

Next BMW dealership for Sewell
Sewell Automotive Cos.
on Oct. 4 obtained its 2nd BMW dealership and reacquired a Mini retailer that it just a couple of many years ago let go out of company.

The luxurious-focused Sewell Automotive, of Dallas, bought Classic BMW-Mini of Plano in Plano, Texas, from the Maas spouse and children. Lee Maas opened Traditional BMW in 1971.

“Our loved ones has targeted our enlargement on the best quality businesses, and Classic BMW is at the leading of that checklist,” claimed Jacquelin Sewell, copresident of Sewell Automotive Cos., in a statement. “We welcome Traditional BMW and Mini to the Sewell spouse and children and appear forward to continuing the dealership’s 50-yr legacy of exceptional services to the Plano local community and the increased Dallas-Fort Really worth place.”

It is the 18th dealership for the Sewell group, all in Texas.

Sewell from 2011 into 2019 operated Mini of Plano, prior to it went out of small business. Mini this yr awarded the franchise to Maas and Basic BMW added Mini into its Typical BMW dealership, in accordance to Sewell.
The huge BMW-Mini dealership, a 160,000 sq.-foot facility on 24 acres, was renamed Sewell BMW-Mini of Plano. It also incorporates a different utilised-auto facility.

“The Maas household feels that the future of the organization we designed will be in excellent arms and we desire that the Sewell household finds the spirit and passion alive and effectively for yet another 50 a long time in Plano,” said Eric Maas, director of racing functions at Quickly Observe Racing, a racing enterprise that the Maas household will concentration on adhering to the divestiture.

The Presidio Group, a Denver- and Atlanta-based mostly investment decision banking and advisory firm, represented Sewell in the transaction.

Eleanore Beatty

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