AutoNation Gets Even Larger - 24/7 Wall St.
AutoNation currently owns and operating 293 new vehicle franchises. Once these transactions are completed, AutoNation’s total franchise count will be 327 franchises, an increase of 34 franchises. After looking at what AutoNation has, 13 of stores are in Georgia, Alabama and Tennessee and are coming from Carl Gregory Enterprises. Another 3 dealerships are in the Baltimore, Maryland market from Valley Motors Auto Group. The company said they are receiving the following franchise in the Southeast: Chrysler, Dodge, Jeep, Ram, Fiat, Ford, Lincoln, Honda, Hyundai and Volkswagen. In 2014, the Carl Gregory stores retailed approximately 16,750 new and used vehicles. The franchises to be acquired from Valley Motors Auto Group include Audi, Mercedes-Benz, Subaru and Volkswagen, which sold roughly 2,900 new and used vehicles in 2014. Mike Jackson, AutoNation’s Chairman, President & CEO, said:. We are pleased to have the opportunity to add 13 stores in Georgia, Alabama and Tennessee and 3 stores in the Baltimore, MD / Washington, D. C. market and bring AutoNation’s store count to 253 from Coast to Coast. Source: 247wallst.com
