Group 1 Automotive Inc. In New Mexico, Asbury bought a Toyota dealership from Automotive Group Inc. – a store owned by Asbury for only a few months.
Group 1 said Monday that it was Friday Larry H. Miller bought Toyota Albuquerque, marking the 17th Toyota dealership of public auto retailers in the United States, renaming it dealership Sandia Toyota, and said it expects to earn $ 115 million in annual revenue.
Group 1 already has several new car dealerships in New Mexico, selling Lexus, BMW, Mini, Land Rover and Jaguar.
“We are delighted to welcome the Sandia Toyota team to the Group 1 family,” Daryl Cunningham, President of Group 1 U.S. Operations, said in a statement. “The ability to add another strong Toyota franchise to our U.S. portfolio and the ability to add scale to our successful New Mexico operations is a very positive growth step for our company.”
Charles Mound followed the March 1 purchase of Toyota Group 1 in Austin, Texas. In February, Group 1 sold to Honda and Toyota dealerships in Massachusetts to Automotive Management Services Inc., owned by Terry Taylor.
Larry H. of Sandy, Utah in December. Miller bought dealerships, 54 new-car dealerships, seven used vehicle stores and Total Care Auto, a finance and insurance product supplier.
Asbury already has some Larry H. Miller sold the dealership. Last month, it was a Larry H. in Colorado. Miller sold the Toyota dealership to Baxter Auto Group, and later that month, two more Larry H. Miller’s Toyota store near Corwin Automotive Group.
Group 1, Houston, 4th place On Automotive NewsList of the top 150 dealership groups based in the United States, retailing 146,072 new vehicles in 2021. Asbury, in Duluth, Ga., Ranks 5th on the list, retailing 109,910 new cars last year.
Help us to be independent in Pandemic Covid-19. The contribution of hardworking writers.