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1 in 6 franchised dealerships in Colorado traded palms final yr

Public retailers together with Asbury Automotive Group Inc. and Sonic Automotive Inc. have taken discover. They led the 2021 shopping for spree in Colorado, among the many fastest-growing states within the nation by inhabitants, in accordance with the U.S. Census Bureau.

Asbury of Duluth, Ga., which entered Colorado in 2019, purchased almost half of the Colorado shops that traded palms final yr, in accordance with an Automotive Information estimate.

Asbury wager massive on Colorado when in December it bought eight Stevinson Automotive shops within the Denver space, spending $377 million on the dealerships and actual property.

That very same month, it acquired 11 extra Colorado shops as a part of its purchase of Larry H. Miller Dealerships. It additionally added a Subaru dealership in Greeley and a Hyundai-Genesis store in Centennial, Colo., final yr.

Sonic of Charlotte, N.C., purchased three dealerships final yr within the state, almost doubling its franchised retailer depend there. In July, it bought Subaru and Volkswagen dealerships in Grand Junction, Colo., and in Aug-ust bought an Audi-Volks- wagen dealership in Glenwood Springs, Colo.

Colorado traditionally hadn’t had a excessive penetration of publicly owned dealerships, Jackson mentioned.

AutoNation Inc., the biggest U.S. new-vehicle retailer, nonetheless, has lengthy had a presence within the state and ended 2021 with 15 shops in Colorado, after promoting one to Basis Automotive Corp. AutoNation opened two used-vehicle-only AutoNation USA shops within the state final yr.

A number of privately held dealership teams even have entered or expanded within the state.

Basis Automotive of Canada and Fowler Holding Co. of Oklahoma every purchased two shops within the state final yr.

Ken Garff Automotive Group of Salt Lake Metropolis additionally bought two Colorado dealerships when it entered the state last year. Ken Garff ranks No. 9 on Automotive Information‘ most up-to-date high 150 record.

Schomp Automotive Group of Highlands Ranch, Colo., has expanded lately, Jackson mentioned. Schomp, No. 104 on Automotive Information‘ most up-to-date high 150 record, now has eight franchised shops within the state.

Final yr, Schomp purchased Mike Naughton Ford in Aurora, Colo., and Empire Nissan Littleton. Schomp additionally has dealerships in Utah and California.

McDonald Automotive Group in Colorado is also rising: Final yr it purchased Toyota and Chrysler-Dodge-Jeep-Ram shops in Fort Morgan, Colo., and a Toyota retailer in Greeley, Colo.


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