Driving the news: The online retailer Carvana purchased a Stellantis dealership in Massachusetts from Lawrence Gordon of Colonial Automotive Group in a deal that closed March 3.
For context: Carvana bought the former Colonial Dodge, Chrysler, Jeep, Ram, in Hudson, Mass., about 30 miles west of Boston.
The store was renamed Carvana Chrysler, Dodge, Ram, a spokesperson confirmed to CDG News.
It’s the sixth Stellantis dealership purchased by Carvana since last year, which now owns stores selling the brand in California (2), Arizona, Texas, and Georgia.
The purchase comes on the heels of Stellantis releasing fresh guidelines on how many of its stores dealers can buy in a rolling 12 months.
What they’re saying: A Stellantis spokesperson referred CDG News to an emailed statement when asked if Carvana specifically influenced the rule.
“Recently, Stellantis has seen an increase in interest from new and untested dealers to our network to purchase a number of locations,” the statement read.
“We want to ensure healthy competition for our customers and that our dealer network remains strong and vibrant.”
“The rule was put in place so we can continue to focus on building a healthy, competitive dealer network that provides exceptional service for our customers with the brands they love.”
Bottom line: It was unclear if the deal was in the works before the new guidelines were announced. “We look forward to bringing exceptional Carvana experiences to Boston area Chrysler, Dodge, Jeep, and Ram customers,” a Carvana spokesperson said via email.
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
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