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Many sellers are basing their asking prices on inflated “COVID numbers,” complains David Hult, president and CEO of Asbury Automotive Group of Duluth, GA. ....
Two Toyota dealerships on Cape Cod have come under new ownership, and facilities are expected to be renovated as part of multiple changes. Group 1 Automotive last month announced its acquisition of the dealerships in Hyannis and Orleans. What is now Ira Toyota of Orleans received its new Auto Class 1 license from the Select Board on April 7, and the new Ira Toyota of Hyannis got its license on Monday. The Ira Group has been part of Group 1 Automotive for nearly 20 years, according to senior vice president Pete Delongchamp. The acquisition brings Houston-based Group 1’s total U.S. Toyota dealership network to 15, and its New England dealership network to 10: seven in Massachusetts and three in New Hampshire. The Group 1 website lists ownership of 227 dealerships of various makes and 30 collision centers in the U.S., United Kingdom and Brazil. ....