Driving the news: VIP Automotive Group purchased a Maserati franchise from McGovern Automotive Group in a deal that closed February 25.
For context: McGovern will retain its Ferrari franchise in Plainview, N.Y., according to esquire Seth Dobbs, of the law firm Fox Rothschild, which represented the buyers in the transaction.
VIP Automotive will relocate Maserati of Long Island to its nearby campus in Westbury, N.Y., also on Long Island, Dobbs told CDG News.
The name will remain the same.
What they’re saying: Dobbs said that VIP Automotive owns multiple top-performing dealerships across many brands.
“Dealers often struggle with this brand, but I know VIP Automotive will do well,” Dobbs said. “They just know how to make those stores work.”
Bottom line: VIP Automotive expanded its luxury holdings while adding another brand to its portfolio that the group has already seen success with.
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:
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
