Driving the news: US Auto Trust has acquired Boardwalk Auto Group in Dallas, adding Ferrari, Lamborghini, Maserati, Pagani, and Czinger franchises to its luxury dealership portfolio, according to a press release.
For context: The deal expands US Auto Trust's ultra-luxury footprint that started with its first acquisition of Aston Martin Newport Beach in 2018.
US Auto Trust previously brought multiple Land Rover dealerships to Pinnacle status before selling them earlier this year.
What they're saying: "We are thrilled to bring world-renowned brands such as Ferrari, Lamborghini, and Pagani into the US Auto Trust family," said founder Edward Glazer. "These marques represent the pinnacle of performance and design, and we look forward to delivering an ownership experience worthy of their legacy."
Big picture: As mainstream buyers get priced out and affordability woes squeeze volume brands, wealthy households with access to capital are propping up the high end of the market, making luxury stores an attractive buy in the right markets.
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