September 29, 2023

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The Ultimate Driving Machines

Group 1, Sonic Automotive acquire dealerships in single-store transactions

Sonic on Monday acquired Bobby Ford Chrysler-Dodge-Jeep-Ram in Sealy, Texas, from Bobby Ford LLC. The retail outlet was renamed Momentum Chrysler-Dodge-Jeep-Ram of Sealy. Sealy is a western suburb of Houston.

Conditions ended up not disclosed.

Bobby Ford Chrysler-Dodge-Jeep-Ram opened in December 2020, in accordance to the dealership’s Fb web page.

For Sonic, the acquisition marks a return to the domestic makes. A Sonic spokeswoman claimed the group beforehand had Chrysler-Dodge-Jeep-Ram brand name outlets, but sold all of them between 2008 and 2012.

The group’s pending $seven hundred million acquisition of RFJ Vehicle Associates Holdings Inc. also involves Stellantis outlets. That deal is predicted to close in December.

“The energy of the Bobby Ford crew and the CDJR makes will jumpstart our brand name growth initiatives, placing the phase for more CDJR areas we system to start functioning in the Northwest afterwards this calendar year,” Sonic President Jeff Dyke claimed in a statement.

Sonic obtained a Colorado Audi-Volkswagen dealership in August and two other dealerships in Colorado in July. Sonic’s July order of Subaru and Volkswagen dealerships ended up the group’s initial acquisitions considering the fact that November 2014.

With the Texas acquisition, Sonic claimed it has 88 franchised dealerships, with 17 of those in Texas.

Sonic, of Charlotte, N.C., ranked No. seven on the Automotive Information list of the top rated 150 dealership teams dependent in the U.S., with retail profits of ninety three,281 new motor vehicles in 2020.