Driving the news: Ken Ganley Automotive Group has acquired Metro Lexus and Lexus of Akron-Canton from Ascent Automotive Group (part of the Friedkin global family of brands), adding two of Ohio's top-performing Lexus dealerships to its portfolio, according to deal advisors, Kerrigan Advisors.
For context: Metro Lexus ranks #1 in Ohio and #10 in the Central region, while Lexus of Akron-Canton ranks #3 in the state.
And together, they control nearly 75% of Lexus market share in the greater Cleveland area.
Ken Ganley Automotive Group now operates more than 50 dealerships representing over 30 brands.
What they're saying: "These are two of the most prestigious Lexus dealerships in the country driven by superior market positioning," said Ryan Kerrigan, Managing Director of Kerrigan Advisors.
Why it matters: The greater Cleveland region is considered one of the most attractive Lexus markets in the country, with only three dealership points serving 3.7 million people (compared to five each for Mercedes and BMW). That translates to more than 1.2 million people per Lexus point, creating outsized profit potential for dealers who control local share.
Big picture: This acquisition continues to demonstrate that buyer demand for dominant luxury franchises is strong. Nearly half of dealers surveyed in Kerrigan's 2024 Dealer Survey expect Lexus franchise values to increase on the whole in 2025.
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