Lithia Motors Inc., which continues to gobble up dealerships, together with buying 5 in Wisconsin in September, additionally offered one dealership in Northern California and one other in Southern California this month, because it sheds some shops in a “community optimization” plan.
The Medford, Ore., auto retailer offered Lithia Chrysler-Dodge-Jeep-Ram-Fiat of Eureka on Sept. 14 to Harper Motors, a Lithia consultant confirmed.
The shop was renamed Eureka Chrysler-Dodge-Jeep-Ram-Fiat. Eureka is positioned about 100 miles south of the Oregon border.
Harper Motors additionally owns a Ford-Kia dealership and Honda and Toyota shops in Eureka, mentioned Joe Ozog, president of Ozog Consulting Group in Scottsdale, Ariz. Ozog Consulting Group represented Lithia within the Stellantis dealership sale.
A day after that sale, on Sept. 15, Lithia offered DCH Gardena Honda to David Wilson Automotive Group. The dealership was renamed Gardena Honda. Gardena is south of Los Angeles.
Jay Francis, an working associate at a number of David Wilson Automotive dealerships, Ozog mentioned, is the working associate at Gardena Honda. Ozog mentioned Francis has fairness within the dealership, however he did not specify how a lot.
Ozog Consulting additionally represented Lithia within the Honda dealership transaction.
“We perceive Lithia’s progress technique and our growth plans match completely with theirs,” Wilson mentioned in a press release.
Lithia had owned the dealership since 2014, a part of Lithia’s buy of DCH Auto Group Inc. in 2014, Ozog and Lithia confirmed.
David Wilson Automotive now has 17 dealerships throughout California, Nevada and Arizona, in keeping with its web site. The group additionally owns a Toyota dealership in Mexico.
David Wilson Automotive, of Orange, Calif., ranks No. 10 on Automotive Information‘ record of the highest 150 dealership teams primarily based within the U.S., retailing 50,425 new automobiles in 2021.
Each divestitures adopted Lithia’s acquisition of Wilde Automotive Group in Wisconsin on Sept. 12, Lithia confirmed.
Lithia, which has offered a number of shops this yr and mentioned this week it expects to promote dealerships in 2022 representing $625 million in annual income, additionally lately confirmed it divested a Chevrolet dealership in Idaho this yr.
The auto retail large offered Chevrolet of Twin Falls on Feb. 7 to Rydell Co., Greg Krueger, associate at Sterling Mergers and Acquisitions in Boise, Idaho, confirmed. Krueger’s agency represented Lithia.
The dealership was renamed Twin Falls Chevrolet. Twin Falls is southeast of Boise. Rydell is constructing a brand new Chevrolet facility subsequent to its Subaru dealership in Twin Falls, Krueger famous. Lithia additionally offered a North Dakota Toyota retailer to Rydell in July.
Lithia ranks No. 2 on Automotive Information‘ most up-to-date record of the highest 150 dealership teams, retailing 260,738 new automobiles in 2021.