Perhaps largest Auto dealership buy out in history

[boatpi]

Includes Dave Smith Motors.
Sonic Automotive Adds $3.2 Billion in Annualized Revenues with Acquisition of RFJ Auto Partners, a Top-15 U.S. Dealer Group | Business Wire

 

[TimeBandit]

That's twice as big as lithia motors buying keyes Auto group in Van nuys

 

[Your ad here]

That's twice as big as lithia motors buying keyes Auto group in Van nuys

When did Keyes get purchased?

 

[rampster]

The Van Tuyl Group became the fifth-largest car dealership group in the U.S, with 78 dealerships selling 240,000 vehicles per year. In 2015 the Van Tuyl family sold their company to Warren Buffet's Berkshire Hathaway for US$ 4.1 billion.

 

[530RL]

The Van Tuyl Group became the fifth-largest car dealership group in the U.S, with 78 dealerships selling 240,000 vehicles per year. In 2015 the Van Tuyl family sold their company to Warren Buffet's Berkshire Hathaway for US$ 4.1 billion.

Larry's non-compete is up and he is back in business.

 

[Duramax]

Just some amazing numbers. I have been with Larry Miller now for almost 8 years, and the amount we have grown in that time is amazing. I believe we are number 8 or 9 in the US?

 

[Willie B]

… friend had her dealerships bought out by auto nation… Which at the time was a very big buy out…

 

[OCMerrill]

RIP the real Dave Smith Dealer network...Well, there goes the 10k off sticker on a leftover Truck and a nice road trip.

 

[Chili Palmer]

Fuck Sonic Auto Group - they own BMW of Monrovia and fuck that dealership too!

 

[wishiknew]

I think this makes Ziggy a billionaire

 

[TimeBandit]

When did Keyes get purchased?

Around November of 2020, at the time they were bigger than Galpin.

 

[Racer56]

Around November of 2020, at the time they were bigger than Galpin.

The 9 Keyes stores sold for 1.4 billion in November of 2020

 

[rivermobster]

Fuck Sonic Auto Group - they own BMW of Monrovia and fuck that dealership too!

This ^^^

I worked at Assael when Dennis made the announcement that he had sold to Sonic.

Our shop forman went straight to his office and started cleaning out his desk. He quit on the spot!

We asked him...

Really dude? Will this be that bad?

He said he had worked for Sonic before and he wasn't going to do it again.

Turned out he made the right move. I quit a year or so later. They didn't fuck with the techs Too much, but turned the rest of the dealership inside out. Lost a lot of really good people.

I go by every so often to say hi to the techs over there. What's Really funny is...

There are a bunch of people there now that are ex Penske employees I worked with when I was at Longo.

One of em, I'll probably punch in the face if I ever run into him alone. DeDeDee...

 

[Bowtiepower00]

Sucks to see the conglomerates taking over more dealers. Not that I blame the owners for selling. Only going to hurt the consumer in the end.

 

[Icky]

RIP the real Dave Smith Dealer network...Well, there goes the 10k off sticker on a leftover Truck and a nice road trip.

Last quote I got from them was msrp, and available rebates at the time of sale

 

[OCMerrill]

RIP the real Dave Smith Dealer network...Well, there goes the 10k off sticker on a leftover Truck and a nice road trip.

Last quote I got from them was msrp, and available rebates at the time of sale

What a bummer to hear. My one and only purchase was May 2019 and it was a good experience. About 6 months later the dealer sold apparently and now sold again. After reading these comments seems like total bad juju. The finance manager who got me out the door was a Huntington Beach transplant. Said he built a big house and moved his entire family up there. His plans were to eventually retire from that dealership. Hope he can stomach the changes.

 

[johnnyC]

guys get ready as the buyouts continue in the future the chance of a discounted sales price will go away as the mother corp will institute standardized pricing the we all will be paying retail or better for a new vehicle

 

[pronstar]

guys get ready as the buyouts continue in the future the chance of a discounted sales price will go away as the mother corp will institute standardized pricing the we all will be paying retail or better for a new vehicle

Believe it or not, due to the inventory shortages ongoing, the average price paid for a new car is higher than the average MSRP for new cars sold.

So people on average are already paying over MSRP…crazy times we live in.

 

[Englewood]

guys get ready as the buyouts continue in the future the chance of a discounted sales price will go away as the mother corp will institute standardized pricing the we all will be paying retail or better for a new vehicle

I was told by a reliable source that the car buying model will be very different moving forward. GM wants to stop offering rebates and make each car a special order. Dealerships will have some cars on hand, but you will pay over sticker.

 

[johnnyC]

I was told by a reliable source that the car buying model will be very different moving forward. GM wants to stop offering rebates and make each car a special order. Dealerships will have some cars on hand, but you will pay over sticker.

basicly that is what i was trying to say that in the future there wont be any deal on a new car as the supply and pricing will be retail at full price or better because it will be controlled by a few huge corps. as the smaller dealerships and corps. will be bought out