Driving the news: Asbury Automotive Group $ABG ( ▲ 0.6% ) has sold its Larry H. Miller Chrysler Dodge Jeep Ram Riverdale dealership in Ogden, Utah, to Young Automotive Group, according to deal advisors Kerrigan Advisors.
For context: Asbury has shed several of the dealerships it acquired from Larry H. Miller in 2021 in order to continue optimizing its portfolio.
What they're saying: "Asbury continues to demonstrate disciplined portfolio management, and we appreciate being a strategic advisor in their process of optimizing their highly valuable network," said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
Erin Kerrigan
But for Young Automotive, which already operates in Utah, the state’s population growth, above-average dealership revenue, and strong domestic brand performance, make it exactly the kind of market where regional operators can grab share.
Utah is the second fastest-growing state in the West, with nearly one million new residents projected over the next 15 years.
The state ranks #1 overall and #1 for economy per U.S. News & World Report, with vehicle sales up 29% since 2020 and average dealership revenue exceeding the NADA average by 17%.
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
