Asbury announces $1.34B acquisition, auto tariff uncertainty looms large, cyber threats target auto industry

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Hey everyone. Would you buy a struggling dealership?

Matt Bowers did—and he turned it into a billion-dollar empire.

In today’s episode of the CDG Podcast, Matt, dealer principal of Matt Bowers Auto Group, breaks down his biggest mistakes, toughest lessons, and how he spots winning opportunities in a competitive market.

Stream it now on YouTube, Spotify, and Apple.

— CDG

Asbury Automotive is making a landmark move—signing a $1.34 billion deal to acquire 33 dealerships from The Herb Chambers Companies, one of New England’s largest dealership groups.

The details: The blockbuster buy adds 52 franchises, three collision centers, and $2.9 billion in revenue, marking one of the biggest dealership buy/sell deals in U.S. auto retail history.

If all goes as planned, the deal will close by late Q2 2025, with Asbury funding the purchase through credit, mortgages, and cash.

But Herb Chambers isn’t stepping away entirely—he’ll stay on as Special Advisor to Asbury, while holding on to his iconic Mercedes-Benz of Boston … (Go deeper: 1 min. read)

A new report from Upstream Security reveals large-scale attacks, hitting millions of vehicles at once, more than tripled in 2024—from 5% to 19%.

Data breaches drove 60% of incidents, a 20% jump from last year, with 92% of attacks happening remotely.

And these aren’t harmless disruptions—over 35% of incidents involved hackers taking control of vehicle systems, from locking owners out to disabling brakes.

Behind the chaos? Black hat hackers, responsible for 65% of attacks, are getting more targeted and aggressive … (Go deeper: 2 min. read)

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For context—President Trump’s 30-day delay on proposed 25% tariffs on Mexican and Canadian imports is set to end March 1. Meanwhile—tariffs on Chinese imports and certain metals are already in place.

But now—President Trump is floating the idea of new tariffs on Japan, Germany, and South Korea, among others—possibly by April 2.

And automakers are busy weighing their options. Ford CEO Jim Farley, who once called tariffs “chaos,” now says reviewing U.S. imports is “an important step forward.”

Yet—others are sounding the alarm—Subaru warns they may need to expand U.S. production to absorb costs, and Nissan says Mexican tariffs could force them to shift manufacturing altogether … (Go deeper: 3 min. read)

Thanks for reading everyone.

— CDG