Saying this year has been a successful one with new product launches and anticipated sales growth, Mitsubishi Motors North America also said on Thursday it has added 10 new dealer partners to its U.S. network.
MMNA also continued investment in upgraded retail facilities, saying it completed construction on Arrotta's Mitsubishi in Spokane, Wash. Mitsubishi renovated the facility under the brand's corporate Visual Identity Program to improve sales and customer service environments.
The company said the Visual Identity Program uses a high-quality retail environment to enhance the customer shopping experience. The program works with the brand’s "Drive your Ambition" message to engage and inspire customers across all Mitsubishi retail stores.
The main color palette is cool and muted, black and gray, with red accents that match Mitsubishi Motors’ brand colors.
Mitsubishi said the Visual Identity Program ensures clean branding throughout the showroom and service waiting areas. The branding is meant to tell a consistent, upscale brand story.
Regarding the 10 new dealer partners, MMNA chief operating officer Mark Chaffin said the company continues to invest in and improve every aspect of the vehicle shopping experience with its dealers.
The newly opened and remodeled U.S. retail facilities are the latest step in the ongoing plan to rejuvenate every aspect of Mitsubishi Motors and its U.S. operations. That includes corporate leadership, dealer partners and each touchpoint in a customer's relationship with their vehicle, the company said.
“2021 is a pivotal year for Mitsubishi Motors, with one all-new and three substantially revised vehicles that are now arriving in dealer showrooms,” Chaffin said in a news release.
Chaffin also said, “New or long-standing, it’s an exciting time to be a Mitsubishi dealer, and we're looking forward to working together with all of our dealer partners to make the most of this opportunity for mutual success.”
The 10 new dealers Mitsubishi Motors welcomed into its dealer network are:
— Auto World Mitsubishi in Bedford, Ohio
— Crossroads Mitsubishi-Lumberton in Lumberton, N.C.
— Foundation 45 Mitsubishi in Houston
— KDK Mitsubishi in Brunswick, Ohio
— Nielsen Mitsubishi in Rockaway, N.J.
— Redondo Mitsubishi in Redondo Beach, Calif.
— Route 17 Mitsubishi in Ramsey, N.J.
— South Shore Mitsubishi in Freeport, N.Y.
— Team Mitsubishi – Hartford in Hartford, Conn.
— Jim Shorkey Mitsubishi-Youngstown in Youngstown, Ohio
The portfolio for Jim Ellis Automotive Group now includes the Mercedes-Benz brand.
The group, which operates dealerships in Atlanta and surrounding areas, has acquired its 20th dealership, 16th brand and first dealership in the south Atlanta area: Mercedes-Benz of Atlanta South.
New and existing customers will soon be able to shop for their new or certified pre-owned Mercedes-Benz vehicle from their home using the Jim Ellis Express Way, which is an online tool for customers to complete as much of the process as they like online at home.
With the tool, customers can shop for vehicles, configure their payments, value their trade and secure financing. The company said it is working on developing concierge-style services such as at-home deliveries, at-home test drives, and mobile service.
The company said the addition of the Mercedes-Benz brand has been a long-time goal.
“It’s a rare and incredible opportunity to not only have acquired this Mercedes-Benz dealership but to also have done so in our own hometown of Atlanta, where we’ve owned and operated German dealership brands beginning with Volkswagen 50 years ago,” Jim Ellis Automotive Group president Jimmy Ellis said in a news release.
Ellis also said, “Since then, we’ve developed a profound appreciation for German premium engineering and craftsmanship like Mercedes-Benz offers. We certainly have the experience, expertise, and resources to really take this dealership to another level by delivering quality, professional, Jim Ellis Automotive experiences to our Mercedes-Benz clients in Atlanta and surrounding communities in Georgia.”
At Mercedes-Benz of Atlanta South, located at 3775 Royal South Parkway in Atlanta, luxury vehicle enthusiasts will see Mercedes-Benz sedans such as the A-Class, CLA, C-Class, E-class and S-Class, along with SUVs such as the GLA, GLC, GLE, GLS and G-Class.
Customers can shop for the AMG models and an inventory of coupes, convertibles and roadsters.
The all-electric Mercedes-EQ will be available this year for those interested in electric mobility.
The dealership is located 10 minutes south of Hartsfield-Jackson International Airport. Operating hours are 8 a.m. to 7 p.m. Monday through Friday, and 8 a.m. to 6 p.m. on Saturday. It is closed on Sundays.
Karma Automotive said last week that Velocity Motorcars, serving the greater Nashville, Tenn., metropolitan area, is the latest addition to its dealer network.
Karma said the opening supports the continuing expansion of its dealer network into new and emerging markets.
Velocity Motorcars, also known as Karma Nashville, brings Karma’s North American retail presence to 27 locations.
The company added more than 16 new dealer partners globally last year.
Karma's flagship vehicle, the Revero GT, is an electric vehicle powered by dual electric motors.
"It is our honor to have Velocity Motorcars join the Karma dealership network and introduce our brand to clients in the growing Nashville market," Velocity Motorcars Nashville general manager Nick Westalski said in a news release.
Velocity Motorcars Nashville is located at 720 Airpark Center Drive in Nashville.
Westalski also said, “We are looking forward to working with Karma and offering our clients a luxury experience of purchasing the best vehicle they can imagine.”
Karma vice president of global sales and customer experience Joost de Vries said Karma was happy that Velocity Motorcars joined the company as a new dealer-partner.
“Karma Nashville is an important location as it will usher in the Karma brand to the state of Tennessee,” de Vries said in a news release. “Velocity Motorcars — along with our other new dealer point additions — allows us to continue improving the shopping and ownership experience for Karma customers nationwide.”
Noting that the acquisition makes it one of the fastest-growing U.S. dealer groups, the Feldman Automotive Group has acquired Al Deeby Chrysler Dodge Jeep Ram in Clarkston, Mich.
With the purchase, the Feldman portfolio gains a second FCA dealership, and the group’s footprint expands to 14 Michigan and Ohio dealerships.
The 23,000-square-foot dealership is located at 8700 Dixie Hwy in Clarkston. Terms of the acquisition were not disclosed.
The dealership employs 60 people. That increases Feldman Automotive Group’s total number of employees to 1,200.
The Deeby acquisition continues what the Feldman Automotive Group says is a year of growth. Feldman and business partner Mark Wahlberg in August announced their fourth Columbus, Ohio dealership, Mark Wahlberg Chevrolet in Worthington. The previous month, the group launched Mark Wahlberg Buick/GMC and Mark Wahlberg Airstream and RV.
Feldman Automotive Group expects to sell more than 33,000 vehicles throughout its 14 dealerships in 2021, with anticipated revenue of more than $1.3 billion.
Feldman Automotive Group chairman and chief executive officer Jay Feldman said Deeby is respected and is one of the top FCA dealers in the country.
“The family had several options when they decided to sell, and we are thrilled that they chose the Feldman organization to be their successor,” Feldman said in a news release. “We plan to build on their legacy and continue to be a fixture within the Clarkston community."
Feldman said the company is committed to growing the Feldman Automotive Group and broadening its Michigan and Ohio presence.
“Our current and future customers will continue to have more and more choices when considering their next purchase,” Feldman said.
Expanding its Southeastern regional presence, Lithia Motors has purchased Jim Cogdill CJDR in Knoxville, Tenn.
The move marks Lithia’s entrance into the Tennessee market, with the company serving Knoxville and neighboring communities.
Lithia expects the Knoxville location to add $90 million in annualized revenue.
That will bring Lithia’s total network expansion to more than $1.7 billion in revenue so far in 2020, according to the company.
“We welcome the Knoxville team and their dedication to continuing to serve their community,” Lithia Motors president and chief executive officer Bryan DeBoer said in a news release.
DeBoer said that with the growth of the company’s physical network, Lithia’s ability to provide convenient and affordable new vehicle, used vehicle, service and parts services to customers is expanded.
“Together, with our Driveway digital home channel, we are providing flexible and complete vehicle ownership solutions wherever, whenever and however consumers desire,” DeBoer said.
The acquisition was funded through the use of free cash flow and existing on-balance sheet capacity.
Lithia says that in reaching more than 92% of the United States, it has built the broadest coast-to-coast automotive retail network. It adds that it has created “the fulfillment foundation of its omni-channel offerings.”
The company says it is “pragmatically and profitably” modernizing the industry, doing that through its mission of “growth powered by people.”
A partnership between the Elway Dealership Group and Schomp Automotive Group has purchased Porsche Salt Lake City from Strong Automotive Group.
Hall of Fame football player, John Elway, and business partner Mitch Pierce founded Elway Dealership Group in 2004. The group has holdings in Colorado and California.
The Strong family in 1958 established Porsche Salt Lake City, which it says was one of the first Porsche dealerships the United States. Strong Automotive Group recently hired automotive dealership brokerage firm Performance Brokerage Services to represent the family and the company in the sale of Porsche Salt Lake City.
Schomp Automotive Group is a fourth-generation and family-owned business with dealerships in Colorado and Utah. The company’s dealer principal and chief executive officer, Aaron Wallace, who is a great-great grandson of the founder, said Porsche is a strong brand and that the dealership is also strong.
“We will continue to provide the same award-winning customer experience,” Wallace said in a news release.
Performance Brokerage Services said Porsche Salt Lake City is a top-25 performer, a seven-time Porsche Premier Dealer Award winner and one of only 17 Porsche Exclusive Manufaktur dealers.
Performance Brokerage Services said Elway Dealership Group and Schomp Automotive Group were “the natural fit to carry on the Strong family legacy.”
Pierce of Elway Dealership Group said his group has “shared some best practices” with the Schomp Automotive Group.
“And I’d say there’s been a mutual admiration,” Pierce said. “Both organizations are fairly progressive with an emphasis on doing what’s best for our customers and employees.”
John Mecham, the exclusive agent for the transaction and the Rocky Mountain partner for Performance Brokerage Services, said he was a new car dealer in Salt Lake City for many years and knows the Strong family well.
“I was honored when they asked me to help them in this life changing event,” Mecham said. “We managed to find the perfect buyers in the Elway and Schomp groups. We know they will take care of the current and future customers.”
Foundation Automotive has acquired the Freestone Auto Group in Fairfield, Texas, stating that Freestone’s local roots will help Foundation expand its Central Texas footprint.
Foundation, an international group with Canadian and U.S. locations, said Freestone has a long-standing history of selling Ford, Chrysler, Dodge, Jeep, RAM, Chevrolet and custom commercial trucks.
Freestone, through the Service Truck Depot, also offers custom commercial work truck services.
Foundation says the Depot is a one-stop shop that fills custom orders with little to no lead time and delivers nationally. “We are not general, we are custom” is the Depot’s motto.
Danny Burnett leads the Depot, and his background is in the areas of construction and heavy equipment.
“His expertise and product knowledge make him perfect for leading innovation and driving results,” Foundation stated in a news release.
The Depot’s product brands include GRACO, COX, Palinger Beds and Cranes, and Miller. The Depot also offers its own brand of a mobile oil system called The Big Slick Custom Lube Skid.
Freestone dealer partner Stacy Dodd purchased the Chevrolet dealership in 2001 and went on to buy the Chrysler-Dodge-Jeep-Ram store in 2011 and Ford in 2018.
“The future of Freestone is bright and we appreciate the teamwork displayed throughout the merger processes,” Dodd said in a news release.
She continued, “Additionally, we look forward to offering more to our customers, employees, and the community with Foundation’s additional resources and synergies.”
"We pleased to welcome the Freestone team to our organization." said Foundation chief operating officer Chuck Kramer.
Kramer continued, “This acquisition will extend our reach on the I-45 North corridor between the cities of Houston and Dallas.”
Foundation chief executive officer and president Kevin Kutschinski said Foundation was happy that Dodd will continue her leadership role of Freestone.
“Stacy has been integral to the success of Freestone and the community in the past,” Kutschinski said.
Atlanta Classic Cars has sold its Mercedes-Benz and Commercial Truck dealerships in Duluth, Ga., to Krause Auto Group, which owns 15 U.S. retail automotive franchises, including nine automotive franchises in the greater Atlanta area.
The transaction was completed on Monday. Terms were not disclosed.
The Presidio Group LLC, an investment bank that works in retail automotive and related M&A transactions, advised the Atlanta Classic Cars ownership in the sale.
“We are immensely proud of Atlanta Classic Cars and the great success we have enjoyed for 45 years,” Atlanta Classic Cars president and dealer principal Johanna Ellis Reisinger said in a news release.
Ellis Reisinger continued, “It’s been a privilege for my family to work alongside our dedicated team in providing the classic Mercedes-Benz experience to customers in the Greater Atlanta area. The team at Presidio is incredibly professional and provided thoughtful guidance throughout the sales process, which ultimately resulted in a great outcome for the Atlanta Classic Cars family.”
She added, “We are confident that Krause Auto Group is the best choice to build upon the legacy of Atlanta Classic Cars in serving team members, customers and the community as a whole.”
Krause Auto Group chief executive officer Vernon Krause described Atlanta Classic Cars as a respected and top-performing Mercedes-Benz dealership that complements Krause’s existing footprint in Atlanta “and strengthens both our relationship with Mercedes-Benz and our company’s overall automotive retail portfolio.”
Presidio president George Karolis said his company was honored to be selected by Ellis Reisinger and her family to advise them “in the sale of their long-standing family business.”
“This transaction demonstrates the market demand for well-run, luxury franchises,” Karolis said.
Karolis continued, “We expect the automotive retail M&A environment to remain active throughout 2020 as growing dealership groups continue to focus on strategic expansion of their dealership portfolios.”
The Presidio Group provided M&A advisory services to Atlanta Classic Cars’ ownership through its wholly-owned investment bank, Presidio Merchant Partners LLC.
In January 2019, The Ed Morse Automotive Group purchased seven Dallas-market franchises and was impressed with its acquired workforce, said Ed Morse Automotive Group chairman and chief executive officer Teddy Morse.
Morse said his company was also impressed with the franchises’ “local passion for cars and how warmly we were welcomed to the community.
“It was obvious to our leadership team that we wanted to expand and grow our footprint in this region,” Morse said in a news release.
Ed Morse Automotive Group made that happen on Wednesday. The company entered into an agreement to acquire three dealerships and a truck and 4×4 accessory store in Sherman and Whitesboro, Texas and Durant, Okla.
Ed Morse purchased the dealerships from Hoyte Auto Group.
The acquisitions are:
— Freedom Chrysler Dodge Jeep RAM North by Ed Morse, located at 2300 Highway 75 North in Sherman, Texas
— Red River Truck and 4×4, a truck accessory store at 2407 N. Travis Street in Sherman, Texas
— Freedom Ram Trucks by Ed Morse, at 65 Riley Road in Whitesboro, Texas
— Freedom Chrysler Dodge Jeep RAM Fiat by Ed Morse, at 2516 W. University Blvd in Durant, Okla.
“We jumped at the chance to continue this growth in outstanding communities like Sherman, Whitesboro and Durant,” Morse said.
The Ed Morse Automotive Group, headquartered in Delray Beach, Fla., has been family owned for more than 70 years. This acquisition will add more than 130 employees to its 1,100-plus employee base. The acquisition grows its locations to 20 dealerships, 33 franchises and 14 automotive brands.
“We are looking not only to continue these dealerships’ history of great deals and outstanding customer service, but to make significant capital improvements,” Morse said.
Morse continued, “We also look forward to supporting the local community with job growth and giving back to local non-profits.”
With Lithia Motors president and chief executive officer Bryan DeBoer saying his company is excited to enter the Sacramento market “and further expand our network with a dominant luxury vehicle presence,” Lithia Motors announced it has acquired two Lexus stores in Sacramento and Roseville, Calif.
Lithia expects those stores to generate $160 million in revenue.
“These stores kick off an expected strong year of growth in our core business and, combined with our digital strategies, further our vision to serve customers wherever, whenever and however they desire,” DeBoer said in a news release.
The company said the stores exemplify Lithia’s strategy of purchasing strong franchises.
Those two stores are now part of Lithia's physical nationwide network of 189 stores, with 42 California locations representing 21 brands.
“Our new teams in the state capital possess years of knowledge and expertise on the Lexus brand, and we are fortunate that they are joining the Lithia family," DeBoer said.
Lithia says it expanded its reach to 92% of the United States in 2019.
According to the company, that makes it “the broadest coast-to-coast automotive retail network.”
“Lithia Motors continues to incrementally and profitably modernize the industry through its mission of ‘Growth Powered by People,’” the company said.
