Toyota, Stellantis, GM dealerships change hands in four acquisitions – Automotive News

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Bill Dickason, a veteran dealership manager, acquired his first new-vehicle dealership as dealer principal with the late February purchase of the former McKaig Chevrolet-Buick in Gladewater, Texas, in the eastern part of the state.

Dickason was platform manager for the former Southwest Kia Auto Group, which had five locations in the Austin and Dallas markets, and he had a small, minority stake in one store, Dickason said in a phone interview.

Megadealer Lithia Motors Inc. of Medford, Ore., purchased the Southwest Kia group in June 2021. That group was majority owned by Shahab Salehoun, who died in December 2020, according to his obituary.

As an advertising pitchman for Southwest Kia, Dickason is a familiar face to auto shoppers in the region, known for the tagline: “If we can’t beat a new Kia deal in Texas, we’re just gonna give it to ya!”

Dickason bought the dealership on Feb. 28 from dealer Mark Abernathy, who owned the store since 1995, said broker Paul Kechnie, a partner in Performance Brokerage Services, an Irvine, Calif., dealership buy-sell firm. Kechnie represented the seller in the transaction.

The Chevrolet-Buick store was Abernathy’s only dealership, Kechnie said.

Kechnie said in a seller’s market, Texas has remained particularly hot. He said there were more than 40 inquiries about the McKaig Chevrolet-Buick store when it went up for sale, and multiple offers.

“Right across the nation, we’re getting phone calls to our office from buyers. The states that come up are Florida and Texas,” he said. “Everybody wants to go to those two states. There’s no state income tax, and beautiful weather.”

Source: https://www.autonews.com/dealers/toyota-stellantis-gm-dealerships-change-hands-four-acquisitions