The dealership news roundup includes a store opening, another rooftop changing hands and a group expanding its leadership team.
Let’s begin with more activity, including mergers and acquisitions, as well as Haig Partners as an exclusive sell-side advisor to Group 1 Automotive on the Sterling McCall Hyundai South Loop in Houston to Steele Auto Group.
The deal was announced Thursday by two of the largest groups in North America. Haig noted that publicly traded Group 1 generated $ 13.5 billion in revenue and retained 307,000 new and used vehicles last year, while Steele is Atlantic Canada’s largest auto dealership group with 55 franchised dealerships, seven independent dealerships, three powersports dealerships and eight collision centers.
Steele has since expanded into the US, as is Sterling McCall Hyundai, its sixth US dealership, all in Texas. The Dealership will be rebranded Steele South Loop Hyundai.
With the sale of Sterling McCall Hyundai South Loop, the team at Haig Partners has been involved in the purchase or sale of 79 dealerships in Texas.
“It was an honor to represent Group 1 Automotive in the Sterling McCall Hyundai South Loop in Houston. Sometimes a dealership for the best buyer is located right next door. But in this case, our process is the best buyer in Canada, 2,500 miles away, ”Haig Partners president Alan Haig said in a news release.
“This transaction is further proof that many buyers are interested in expanding into Texas,” Haig continued. “With high population growth, low taxes and a business-friendly climate, Texas, Florida and other similar markets bring elevated dealership values. The transaction also demonstrates that the demand for dealerships remains high even though the macroeconomic outlook is in trouble at the moment.
“Dealerships are still producing record levels of profits, so buyers want more of them,” he went on to say.
Hello Auto Group opens new Subaru Dealership
Switching from the Lone Star State to the Golden State, Hello Auto Group this week opened its new Subaru Dealership in California.
The group now includes Kia of Valencia and Hello Mazda of Valencia (located in Santa Clarita), Hello Mazda of Temecula and Hello Subaru of Temecula (located in Temecula) and Hello Mazda of San Diego.
The new Subaru dealership includes 24 service bays and more than 70 jobs in the Valencia-Santa Clarita community.
“Hello Auto Group is excited to open a new location in Valencia-Santa Clarita,” said Hello Auto President Karl Schmidt in a news release. “As we grow in the Southern California region, we are confident our new dealerships will provide exceptional value and services to the affected community.”
The group mentioned that Subaru moved out of Valencia three years ago.
“Our new Hello Subaru dealership in Valencia-Santa Clarita is going to fill a void in the community and will also bring a fresh approach to car sales,” Schmidt said. “The Hello Auto Groups unique upfront business model and commitment to giving back to the community aligns with the Subaru brand and has received positive reception throughout California.”
Hello uses a one-person sales model; industry leader Chip Perry.
“We are aiming to alleviate the stress that comes with buying a car,” Hello general manager Angel Maldonado said in a news release. “Hello Auto Group is proud to offer customer-centric services and processes that allow buyers to have the most seamless buying experience possible. We can expand our community-based business into new areas, yet still take our core values of being genuine, honest, respectful and fair. ”
Hello Auto Group is also dedicated to giving back to the community, so $ 25 from every vehicle delivery and $ 1 from every repair order to a local philanthropic fund.
Castle Automotive Group adds to the marketing leadership team
This week, Castle Automotive Group (CAG) has expanded its marketing leadership team to include Giancarlo Montenegro as director of marketing operations.
“Giancarlo’s ever evolving digital marketing experience is the key to growth and direction of our internal marketing organization,” said chief marking officer Sean Seltzer, who joined CAG in May.
“As customers of As Castle Automotive Group are looking for a true transparent experience for all customers, Giancarlo’s skillset and drive for success will be part of our future,” continued Seltzer as the group currently owns nine franchises throughout Illinois. and northwest Indiana,
Montenegro owns more than a decade of agency experience, multiple for overseeing digital strategy Fortune 100 companies across the automotive, financial / investment and technology sectors. He specializes in the curation of harmonious strategies across platforms to bridge the dividend between media efficiencies and direct business objectives.
Montenegro joins The Castle Automotive Group fresh off his tenure as social director at Reunion Marketing. While at Reunion, CAG highlighted that Montenegro led a successful enhancement of Reunion’s product suite, to the firm’s Tier 3 automotive paid social.