Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Industry Press Releases

Industry Press Releases Industry Press Releases

Exclusive Blog Posts

Choose the correct CRM for your dealership OR pay dearly

Choose the correct CRM for your dealership OR pay dearly

With all the CRMs on the market today, finding the right one for your dealership is becoming more challenging than ever. There have been massive changes in…

5 Benefits of Using Google AdWords Click-to-Message Ad Extensions

5 Benefits of Using Google AdWords Click-to-Message Ad Extensions

Looking for a new way to win over people more likely to send a text message than to call? Set up this free message extension for your text ads on the Googl…

Must-See NADA 100 Expo Displays for Fixed Ops

Must-See NADA 100 Expo Displays for Fixed Ops

New Orleans is ramping up for the 100th anniversary of NADA, and the convention promises to be outstanding. You’ll be entertained at the NADA100 Carn…

Why Social Media Marketers Won’t Replace Your Sales Team

Why Social Media Marketers Won’t Replace Your Sales Team

Social media is changing the marketing profession in remarkable ways. According to the Public Relations Society of America (PRSA), the social media analyti…

How To Find A Reliable Auto Body Repair Shop

How To Find A Reliable Auto Body Repair Shop

Finding a reliable and professional auto body repair shop is not as easy as it sounds. Unfortunately not every mechanic or auto repair shop will have your …

The Banks Report Releases Dealership Acquisition Report for Full Year 2013

Annual report offers industry’s most comprehensive list of acquisitions; market brisk in 2013; Chrysler/Jeep franchises led activity

 

Detroit, MI –February 11, 2014 – The Banks Report, the retail auto industry’s leading online source for analysis and insight, today released The 2014 Dealership Acquisition Report, the auto industry’s most comprehensive assessment and analysis of dealership acquisition activity from the previous year.

Covering national and international activity across 2013, the report paints a picture of a year that showed more robust acquisition activity than in previous years (although public dealer group activity was flat), with over 202 dealerships/286 franchises changing hands. Activity was at its most brisk in the first and last months of 2013, while Chrysler/Jeep brands led all franchises for number of acquisitions. The report segments buy/sell activity by public dealer group/franchise, brand and segment.

"This report reveals a market in flux, although US public dealer groups buy/sell activity in 2013 was flat compared to 2012," says Cliff Banks, founder and president of The Banks Report. "The public dealer groups continue to exercise a disciplined acquisition strategy which keeps the market from being more active. Also, there are numerous challenges in getting a deal across the finish line.”

2013 Dealership Acquisition Report Highlights

  • 180 U.S. Dealerships and 260 Franchises changed hands
  • 34 U.S. acquisitions made by the public groups
  • 146 U.S. acquisitions made by private groups
  • Domestic brands accounted for 50% of all acquisitions
  • Chrysler and Jeep led all brands with each accounting for 19 acquisitions

 

"The Chrysler brands were the hottest in 2013 when it came to acquisitions," says Banks. "Several dealers who made it through the bloodbath in 2009 know this is the time to get out. Their sale prices are as high as they'll ever be due to Chrysler having had more than 40 straight months of sales increases. The buyers primarily are well-capitalized local dealers looking to add to their portfolios at prices that still are fairly reasonable."

The entire 2014 Dealership Acquisition Report is available to subscribers of The Banks Report. To subscribe go to: http://www.thebanksreport.com/subscription-information.html

 

About The Banks Report

The Banks Report is an online weekly analysis of the automotive retail space covering manufacturers, vendors and dealers. The weekly report features cutting edge trends, predictions of potential acquisitions and insight into the biggest news stories. In addition to providing analysis not found elsewhere, The Banks Report also has broken numerous stories in the previous year. Subscribers include investors, analysts, dealer, vendor and manufacturer executives.

 

Media Contact:
mWEBB Communications

Cassandra Cavanah, (818) 397-4630 / cassandra@mwebbcom.com

Melanie Webber, (424) 603-4340 / melanie@mwebbcom.com
 

 

 

 

 Unlock all of the community & features  Join Now