Driving the news: Andrew Habberstad of Habberstad Auto Group purchased Huntington Kia in New York from Marina Letsios in a deal that closed December 15.
For context: It’s the group’s first Kia dealership.
Renamed Habberstad Kia, it joins four other Long Island stores owned by Habberstad Auto: two selling BMW, one Mini, and one powersports.
Habberstad told CDG News that the location, close to one of the BMW stores, and Kia’s growing market presence made it an attractive opportunity.
What they’re saying: Habberstad said his uncle owned the same dealership but returned it to the factory decades ago.
“Now here we are, 20 years later, buying it back…,” Habberstaid said. “Quite ironic.”
Bottom line: News this week re-ignited Habberstad’s bullish stance on the brand when Kia released an April 7 letter to dealers confirming its anti-broker policies. Toyota followed with an April 8 memo. Nissan and Hyundai were next, releasing memos on April 10.
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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