New Country Sells Three Luxury Dealerships to Keeler Motor Car and Open Road Capital
Event summary
- New Country Motor Car Group sold its Lexus of Westport, Toyota of Westport, and Audi Hawthorne dealerships to Jesse Hord of Keeler Motor Car Company and Open Road Capital.
- The dealerships are located in affluent areas near New York City, including the 'Gold Coast' in CT and Westchester County, NY.
- New Country plans to reposition capital to the Washington, DC area, where it recently acquired five luxury dealerships.
- Haig Partners served as the exclusive advisor on the sale, highlighting strong demand for luxury dealerships despite Audi's current tariff challenges.
The big picture
The sale reflects a strategic shift by New Country to consolidate its presence in the Washington, DC area, capitalizing on strong dealership valuations and high demand for luxury brands. The transaction underscores the active buy-sell market in automotive retail, driven by robust dealership profits and the appeal of premium locations. Haig Partners' involvement highlights the growing role of advisory firms in facilitating complex dealership transactions.
What we're watching
- Market Demand
- How sustained demand for luxury dealerships will affect valuations and transaction volumes in high-income markets.
- Brand Performance
- Whether Audi can regain market position with upcoming product launches despite current tariff challenges.
- Capital Repositioning
- The pace at which New Country can integrate and optimize its newly acquired dealerships in the Washington, DC area.
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