California Dealership Changes Hands
Two groups trade coastal Orange County Honda store as they focus in different directions.
The Southern California store is the new owner's first in the state.
Pinnacle Mergers & Acquisitions
A growing auto group concentrated in Western states has acquired a Southern California Honda dealership.
The sale of Ocean Honda in the Orange County city of San Juan Capistrano is the first Golden State store for Jerry Seiner Auto Group and its first Honda franchise.
Pinnacle Mergers & Acquisitions represented the seller, Victory Automotive Group, in the transaction.
Victory said it just bought two Honda stores in Indiana that is sees being a better fit for the group, which owns dozens of dealerships across California, the Midwest, the South and Massachusetts. The transaction was the 15th Pinnacle has helped the group with.
The California Honda store was renamed Jerry Seiner Honda.
The Jerry Seiner group grew its Western-focused footprint with the acquisition. It also has stores in Utah, Arizona and Nevada.
The group originated in Michigan with a single Chevrolet dealership, but the brand gave its founder the chance to buy a Salt Lake City store five years later, and it grew its Western presence from there.
More Industry
EV Consideration Climbs
Despite the loss of federal EV incentives, interest has grown in the U.S., largely thanks to charging infrastructure improvements.
Read More →
August Auto Angst
The hot month brought hot-to-the-touch vehicle prices in the U.S. as consumers dived for more affordable models but found higher price tags to go with them.
Read More →
Arizona Stores in New Hands
The two franchises bring continued growth for a homegrown automotive group in its third generation of family ownership.
Read More →
Two New Rides Earn Safety Awards
Thanks to vehicle redesigns, two more vehicles have earned IIHS’ Top Safety Pick+ award that builds on the criteria of the lower Top Safety Pick award.
Read More →
How A Simple Phone Call Can Cause a Dealership Data Breach
Despite the sophisticated techniques fraudsters often employ today to gain access to dealerships’ valuable information, they sometimes use a somewhat old-fashioned approach.
Read More →
Texas Rooftop Gets New Owner, Name
Family-owned Lumos Auto Group acquired Acura of the Rio Grande Valley from Bill Bird and will operate the dealership as Lumos Acura.
Read More →
Hyundai Feeling Electric
As the automaker looks to the balance of the decade, it plans to significantly boost its electrified powertrain lineup, including more hybrids and its first extended-range EVs.
Read More →
Dealer Debrief: Luxury Brands are Losing Ground
The quality gap between luxury and mass-market auto brands is narrowing. Today, Lauren is discussing why.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
Longtime Ford Store Changes Hands
The Virginia dealership joins a small area automotive group in a one-dealership transaction, moving from one family franchisee to another.
Read More →