Toyota, Ford, GM, VW and Hyundai dealerships are sold in 4 states
Vanguard Auto buys two dealers
Dallas-based Vanguard Automotive Group added two Texas dealerships, one in June and one in September, to nearly double its store count.
With the acquisition of domestic and import businesses, Vanguard Auto now has five new car dealerships, all located in Texas.
The first acquisition, which closed on June 28, was the former Parkway Buick-GMC dealership in Sherman, north of Dallas, Vanguard Auto COO Jeremy Wiggains said in a phone interview.
The dealership was renamed the Vanguard Buick-GMC of Sherman. The seller was the Gilchrist Automotive Group from Hudson Oaks, Texas.
Ben Hicks, CEO of Arlington, Texas-based acquisition and sales firm Hicks Management & Consulting Group Inc., told Automotive News that he represented Gilchrist Automotive on the transaction but worked closely with both parties. The new dealer principal is Vanguard owner Christopher Late, Hicks said.
Both Vanguard and Gilchrist have acquired stores.
Wiggains said Vanguard is interested in adding merchants “within a geographic location that we believe we can manage.”
In December, Vanguard bought a Ford dealership in Hughes Springs, Texas, and in February, Gilchrist bought General Motors and Stellantis dealerships in Gatesville, Texas.
Gilchrist is ranked 112th on the list of top dealer groups, selling 8,766 new vehicles in 2021.
And on September 15, Vanguard Auto bought the former Charles Maund Volkswagen in Austin. That store has been renamed the Vanguard Volkswagen of North Austin, Wiggains said. The seller was Doug Maund, Wiggains said.
In March, Doug Maund and a partner Charles Maund sold Toyota in Austin to Group 1 Automotive Inc.
Wiggains said his group sees opportunities in Austin and at the Volkswagen brand.
“We love Austin. We think Austin and VW are a really good match, with the EV direction that VW is taking, especially with the ID4,” he said. “Austin’s demographics are generally more EV-friendly.”
Bob Loquercio Auto buys Hyundai, Buick-GMC stores in Indiana
Bob Loquercio, CEO of Bob Loquercio Auto Group of Streamwood, Illinois, bought Goshen Hyundai and Goshen Buick-GMC in Indiana from Dzung Nguyen. Loquercio renamed the stores Hyundai of Goshen and Buick-GMC of Goshen. The transaction closed on August 4th.
Loquercio said he has confidence in the Hyundai and Genesis brands.
“Our next plan is to build a new Hyundai facility in Goshen on the existing land we purchased,” Loquercio told Automotive News. “We will also supply GM with a new building. We have tremendous confidence in GMC with its state-of-the-art pickup range, particularly the GMC Hummer electric vehicle.”
Until he’s ready to build GM’s new facility, Loquercio said he will be retrofitting the existing store with a larger service area. Goshen is located in northern Indiana.
Staff at both stores remain, he noted, with the exception of one retiree.
“We’re very much in favor of always having people from the community work with us,” he said.
In early 2021, Loquercio said he bought a Hyundai-Kia store in Michigan City, Indiana, and leased the building from the seller, whom he did not identify. Loquercio said he has built a new Kia plant nearby, which he says opened in June. And he plans to build a new Hyundai dealership on the same street with a planned opening next summer, he said.
Including the two Goshen stores, Loquercio owns 11 franchise stores in Illinois and Indiana as well as a used car store. He said he’s also building a standalone store for Genesis in Bartlett, Illinois.
The Bob Loquercio Auto Group is ranked 93rd on the list of top dealer groups, selling 10,853 new vehicles in 2021.
And Loquercio wants to grow. He said his group is looking to buy several dealerships in the Midwest.
“Our group is in expansion mode,” Loquercio said.