Eide Automotive Group’s Post

Flow Automotive Cos. has expanded its Greensboro and Triad dealership portfolio by acquiring Volvo Cars Greensboro from Hudson Automotive Group. Terms were not disclosed. Flow Volvo Cars Greensboro is the second Volvo dealership in its portfolio. https://lnkd.in/gYq29ahe

Several California auto dealerships have recently changed ownership, marking significant shifts in the local automotive market. From Victory Automotive Group's acquisition of BMW of Humboldt Bay to the rebranding of Covina Valley Volkswagen and Mass Auto Group's purchase of Nissan of Tustin, these transitions highlight ongoing consolidation and growth within the industry. Discover the stories behind these deals and what they mean for the future of these dealerships. #AutomotiveIndustry #CarDealership #AutobodyNews

Alfa Romeo, Stellantis ■ Story of a US Dealer in Trouble! Alfa Romeo's future in the United States is uncertain. Dealerships are struggling to sell and older models remain unsold. By Simone Lelli, translation AutoNews24 Alfa Romeo faces challenges in the United States, with declining sales and dealers struggling to maintain up-to-date inventory. A notable example is the Alfa Romeo dealership in Marin, California, which currently has only six new vehicles, four of which are two years old. This reflects a broader crisis affecting the entire brand, part of the Stellantis group. The inventory at Alfa Romeo in Marin includes two 2022 Giulias, two 2022 Stelvios, a 2023 Giulia, and a single 2024 Tonale. Overall Alfa Romeo sales are declining, with the Stelvio, the best-selling model, down 32% from the previous year. This means that many of the cars in stock have been unsold for months, if not years. A salesperson at the dealership explained that the shortage of new vehicles is due to a lack of space and the need to clear out existing inventory. However, the Tonale, Alfa Romeo’s latest model, is also virtually unobtainable: the only available example was already sold, and no new deliveries are expected soon. The situation is not unique to Alfa Romeo of Marin. The brand’s largest dealership in Northern California, Alfa Romeo of Stevens Creek, recently closed, leaving customers without a single point of contact for service and sales. Other Alfa Romeo dealerships across the country face similar challenges, raising concerns about the brand’s future in the United States. #Stellantis #alfaromeo #dealership #autoNews #Cardealer #Automotive

■ Mercedes-Benz plans to begin selling its dealerships in Germany in 2025! The sale of 60 Mercedes-Benz car dealerships will impact approximately 8,000 employees. Mercedes-Benz's plans to sell its car dealerships have been strongly criticised. However, the group wants to do this as early as next year. Source: Merkur What has been in the works for a long time will quickly get rolling. The car group Mercedes-Benz had already announced in 2022 that it wanted to completely restructure car sales. At the end of last year, there were initial reports that the Stuttgart-based global company was planning to separate from all of its branches. Mercedes-Benz has confirmed this step. The group justified the decision with considerable savings potential. However, this provoked massive protests at the country's locations. #Mercedes #Automotive #AutoNews #Dealership #CarDealer https://lnkd.in/eUkF2tBb

GM Canada Led the Industry in Total Sales and Total Market Share for 2023 Oshawa, Ont. (January 3, 2024) – Chevrolet, Buick, GMC, and Cadillac dealers delivered 263,084 vehicles in 2023, including 65,735 vehicles in the fourth quarter, up 15.4 per cent and 18 per cent, respectively. As a result, GM Canada led the industry in both total sales and total market share for 2023, accounting for 15.0 per cent of the Canadian market, up 0.6 points over 2022. “GM Canada’s incredible sales results in 2023 are a reflection of strong customer demand for the design, technology and functionality of our award-winning products,” said Kristian Aquilina, vice president, sales, service and marketing, GM Canada. “After a couple of years of supply chain challenges, we substantially increased vehicle inventory in 2023 to meet this demand across our brands. We will build on that momentum in 2024, as we continue to launch new vehicles in both ICE and EV segments and focus on delivering an exceptional customer experience.” 2023 Highlights: Chevrolet posted the brand’s best year ever for the all-electric Chevrolet Bolt and Bolt EUV, with 14,075 total sales in 2023, up 121 per cent. Total sales of full-size trucks increased 7.1 per cent, including the Chevrolet Silverado and GMC Sierra. Total sales of small crossovers increased 163.9 per cent year-over-year, including the Chevrolet Trax and Trailblazer, Buick Encore GX and the all-new Envista. Total sales of mid-size SUVs were up 46.7 per cent year-over-year, including the Chevrolet Blazer and Traverse, Buick Envision and GMC Acadia. Cadillac delivered its fourth consecutive year of sales growth, with total sales up 1.8 per cent over 2022. About General Motors Canada General Motors of Canada is headquartered in Oshawa, Ontario and is part of a global company that is committed to delivering safer, better and more sustainable ways for people to get around. In Canada, General Motors markets Chevrolet, Buick, GMC and Cadillac vehicles through our strong Canadian network of dealers, as well as OnStar services. More information can be found at www.gm.ca or by following @GMCanada on Twitter and Instagram.

Strategies for maximizing profitability in a shifting automotive market – Kevin Frye | Jeff Wyler: … , Marketing Director at Jeff Wyler Automotive Family. Key Takeaways  1. Frye … contributed to a slowdown in automotive sales. Moreover, dealerships are facing … potentially delay major purchases like automobiles, impacting dealership sales. 3. Additionally … #car #cars #awesome

Ram suffered the biggest blow, falling 26 percent for Q2. A total of 90,100 trucks and 15,369 ProMaster vans were sold from April through June. The Promaster City, which ended production in 2022, still had seven sales. Overall, Ram's yearly performance matches Q2 with a 26 percent drop. That could change for the better as the refreshed 2025 Ram 1500 pickup reaches dealerships later in the year. Jeep and Chrysler both had 19-percent year-over-year drops. The decreases aren't entirely unexpected, especially at Chrysler, which only builds on car: The Pacifica. A total of 37,786 were sold, a 16-percent drop for the minivan. And we continue to bid the dead 300 farewell with 1,998 sales, down 53 percent. https://lnkd.in/gVmK7sSm

ZT Automotive expands its footprint into Alabama with the acquisition of 13 dealerships from Greenway Automotive Group. This strategic move includes brands like Toyota, Honda, Nissan, and Chrysler Dodge Jeep Ram FIAT, potentially boosting annual revenues by over $195 million. The rebranded dealerships will honor the region's rich musical heritage. Learn more about this significant expansion. #AutomotiveExpansion #ZTAutomotive #AutobodyNews

Merger&Acquisition

Penske Automotive Group is one of the world's leading heavy vehicle retailers, but it has further expanded its Australian light vehicle footprint with the acquisition of a third Melbourne Porsche dealership.