Car dealers stay in buy mode despite tariff uncertainty

Despite concerns around auto tariffs, dealership buyers are still moving forward. Haig Partners reports 16 transactions under letter of intent (LOI) or purchase agreement covering 34 stores, with new bids arriving even after tariff discussions began. 

Buyers appear focused on long-term ownership, viewing short-term disruption as manageable. None have backed out or requested changes to deal terms, and Haig is preparing to market another 29 stores this month. Internal modeling shows that even with a 20% drop in profits for three years, buyers could still earn a 14.5% return over 10 years—only slightly below pre-tariff projections.

Here are three recent dealership buy/sell deals worth noting.

1. Riser family sells Chrysler Dodge Jeep Ram FIAT in Arkansas

Chris Crain and Heath Campbell have acquired Riser Chrysler Dodge Jeep Ram FIAT in Hot Springs, Arkansas, from the Riser family, according to Haig Partners, which represented the seller. The Riser family has operated in auto retail for over 30 years and said the sale was a strategic decision, with no plans to sell additional stores. Crain and Campbell, both established Arkansas dealers, have a longstanding relationship with the Risers. 

2. Trophy Automotive Dealer Group buys large-volume Kia store in California.

Trophy Automotive has acquired Kia of Cerritos in California from Lou Sobh Automotive Group, according to Kerrigan Advisors, which represented the seller. Kia of Cerritos is the second highest-volume Kia dealership in the U.S. and is located in Cerritos Auto Square, the nation’s largest auto mall. 

The Sobh family, based in Georgia, acquired the store in 2010 and built it into a top performer before deciding to focus on their Southeast operations. 

Trophy Automotive, based in Los Angeles, operates several Southern California dealerships, including other Kia locations in Carson and Downtown LA.

3. AutoNation picks up 2 Colorado dealerships.

AutoNation $AN ( ▲ 1.0% )  has acquired Groove Ford and Groove Mazda in Englewood, Colorado, from Summit Automotive Partners, expanding its footprint to 22 locations in the state. 

The acquisitions mark AutoNation’s first Ford and Mazda dealerships in the state and add roughly $219 million in annual revenue, with nearly 5,000 vehicles sold last year. The stores have been rebranded as AutoNation Ford Arapahoe and AutoNation Mazda Arapahoe. 

The deal concludes Summit’s divestiture of its Groove-branded Colorado dealerships, following earlier sales to Corwin Auto Group and Visionary Automotive Group. 

Summit now retains just one Colorado location, alongside operations in the Northeast and Wyoming.

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