Gilchrist Automotive on Sept. 26 acquired its first Oklahoma dealership by getting Toyota of Lawton as the group also returned to the Toyota brand immediately after far more than two many years.
The dealership, now named SouthWest Toyota of Lawton, also marks the Gilchrist group’s to start with dealership outdoors of Texas, stated Stephen Gilchrist, the group’s co-operator and vendor operator. The seller was Orr Automobile Team, Gilchrist stated. Lawton is southwest of Oklahoma Town.
Gilchrist said his group has seemed at expanding to nearby states amid a lack of acquisition selections in the Dallas-Fort Value-spot, where the group is based mostly, and the high dealership costs in Texas, the place its other dealerships are found.
The group’s enlargement outdoors of northern Texas started this 12 months following it purchased two central Texas dealerships in Gatesville in February. Gilchrist Automotive also in June sold its Parkway Buick-GMC dealership in Sherman, Texas, north of Dallas, to Vanguard Automotive Team.
Justin Rogers, who formerly managed that retail outlet, will be the Oklahoma dealership’s new standard supervisor, Gilchrist reported, adding most current personnel there ended up retained.
The team also had an curiosity in proudly owning a Toyota keep all over again, Gilchrist said. Gilchrist Automotive hasn’t owned a Toyota dealership considering the fact that it marketed its Weatherford, Texas, store in 1999, Gilchrist mentioned.
Toyota Motor Corp. CEO Akio Toyoda’s skepticism of U.S. EV sales targets also inspired Gilchrist Automotive to partner with the Toyota brand, he mentioned. Gilchrist stated he agrees with Toyoda’s impression that hybrid automobiles may well be the most practical way to lower carbon emissions in the in the vicinity of future.
Toyota’s ongoing financial commitment in internal combustion engines is important, “in particular when you might be in sites like Texas and Oklahoma in which we nonetheless generate a good deal of trucks and major SUVs,” Gilchrist informed Automotive News.
“We are starting up to see more desire in EVs, [but] it is really not like we can flip a switch tomorrow and everybody’s likely to want to buy an EV,” Gilchrist additional.
Gilchrist Automotive, of Hudson Oaks, Texas, ranks No. 112 on Automotive Information‘ record of the major 150 dealership groups based mostly in the U.S., retailing 8,766 new cars in 2021.
Dealership invest in-offer agency Hicks Management & Consulting Group Inc. in Arlington, Texas, represented both equally the buyer and vendor in the transaction.
Chantz Scott buys Kia dealership, sells two Stellantis stores
The Chantz Scott Vehicle Team obtained its 2nd Kia dealership, the previous Grindstaff Kia in Johnson City, Tenn.
Chantz Scott Car bought the dealership July 26 from Steve Grindstaff. It was renamed Kia of Johnson Metropolis.
“I desired to obtain this Kia store for the reason that this is where I began promoting cars back in 2004,” Chantz Scott, CEO of his namesake car team, explained to Automotive Information in an e-mail. “We previously have an current footprint with Chantz Scott Kia, situated in Kingsport, Tenn.”
Scott said he also offered both equally of his Stellantis dealerships this 12 months.
He mentioned he bought Auto Environment of Huge Stone Gap, a Chrysler-Dodge-Jeep-Ram store in Major Stone Hole, Va., which he obtained in 2016, to Gavin Harbolt on Could 13. That keep was renamed My Town Chrysler-Dodge-Jeep-Ram.
Harbolt, who has a utilised pickup truck and RV dealership in South Issue, Ohio, said this is his to start with franchised dealership. He claimed he partnered on the order with Scott Reed and Dr. John Pappas, both from Lexington, Ky.
Harbolt explained to Automotive News that he is also less than agreement to purchase a Chevrolet dealership in Tennessee and desires to obtain 10 new-auto suppliers in 5 a long time.
Scott, an Automotive News 40 Less than 40 award winner in 2017, was established to sell his Stellantis dealership in Tennessee to LMP Automotive Holdings Inc. LMP Automotive explained in August 2021 that it planned to spend $5 million to acquire the dealership, fixtures, household furniture and tools, but that offer was terminated in February.
Scott reported he bought that dealership July 6.
That dealership was renamed Carville Chrysler-Dodge-Jeep-Ram. Carl Reinhart told Automotive News that he is the new proprietor of the dealership right after he was normal manager due to the fact March 2020.
In December, ZT Motors, a device of ZT Corporate, purchased Grindstaff Ford and Grindstaff Chrysler-Dodge-Jeep-Ram in Elizabethton, Tenn., from Grindstaff.