Automotive News - August 25, 2008 - (Page 16) 16 • AUGUST 25, 2008 Lithia sheds 2 of its Detroit 3 stores Craig Trudell ctrudell@crain.com ADVERTISING STAFF Circulation 313-446-0450 Advertising 313-446-6050 Classified Advertising 313-446-6065, 800-388-1800 Web site www.autonews.com ADVERTISING AND SALES DETROIT 1155 Gratiot Ave., Detroit, MI 48207-2997 313-446-6790 Fax: 313-446-8030 Lithia Motors Inc. sold two Detroit 3 brand dealerships this month as part of the public group’s plan to shift more of its new-vehicle sales to import and luxury brands. The Medford, Ore., retailer sold its Chevrolet dealership in Issaquah, Wash., to BPP Automotive Group and its Chrysler-Jeep-Dodge dealership in Burlingame, Calif., to T and K Automotive Investments Inc. Terms were not disclosed. In June, Lithia said it planned to sell 14 of its then-110 dealerships. About half of those stores would be dealer- ships that handle Chrysler LLC brands, the company said. This month, Lithia said it had reached agreements to sell six dealerships, including the two it sold, under the plan. The company also said it had agreed to sell two other dealerships that were not part of the 14-store plan. In an earnings call, CEO Sid DeBoer said Lithia is “preparing for continued slow vehicle demand into 2009 by bringing our expenses into balance with our con- This Automotive News feature lists recent dealership acquisitions as reported by brokers, official announcements and news media. OPEN THE DOOR TO MORE CUSTOMERS! We approve every customer in writing in 30 seconds or less… so you can convert your turndowns into approvals and sales. Our Guaranteed Credit Approval Program allows you to eliminate customer turndowns and provides 3 different financing programs to meet your customers’ needs and your profit requirements. Isn’t it time you opened your door to more customers and greater profit potential with Credit Acceptance? servative view of vehicle demand.” About 60 percent of the 13,285 new vehicles Lithia sold in the second quarter of 2008 were domestic brand cars and trucks. Lithia wants to reduce that share to 40 percent through its store divestiture strategy. “There is still demand for domestic dealerships from independent, private entrepreneurs, even in this economic climate,” DeBoer said. Lithia said it expects to save $22 million this year through a restructuring plan that also includes reductions in work force, consolidation of dealership management and cuts in corporate overhead. Lithia ranks No. 8 on the Automotive News list of the top 125 dealership groups in the United States, based on retail sales of new vehicles in 2007. Here are other recent dealership transactions: Londoff Chevrolet West in Pacific and Johnny Londoff Chevrolet in Florissant More: John Londoff Jr. bought the dealerships from his father, who is retiring after 63 years as a dealer. The Florissant dealership will get a $2 million remodeling and expansion. Darrow Automotive/ Harrelson; Donald Automotive Buyer: Darrow Automotive Sellers: Louis Harrelson; Donald Automotive Group Locations: Charlotte, N.C.; Rock Hill, N.C. Old names: Harrelson Mazda in Charlotte; Carolina Mazda in Rock Hill New names: Mazda of South Charlotte; Mazda of Rock Hill More: Harrelson sold the Charlotte dealership; Donald Automotive sold the Rock Hill store. Darrow Automotive, of Waukesha, Wis., also owns dealerships in Illinois, North Carolina, South Carolina and Georgia. Ciccolo/Catanese Buyer: Ray Ciccolo Seller: Pete Catanese Location: Norwood, Mass. Old name: Central Saab New name: Cadillac-Hummer-Saab Village of Norwood More: Ciccolo is operating the Saab franchise out of his Cadillac-Hummer dealership in Norwood. Catanese continues to operate a Chrysler-JeepDodge dealership in Norwood. Richards; Darrow Automotive/Taylor Auto Group Buyers: Bob Richards; Darrow Automotive Seller: Taylor Auto Group Location: Augusta, Ga. More: Taylor Auto Group is selling its Toyota-Scion dealership to Richards, who owns a Nissan dealership in Augusta. The company is selling its BMW dealership and its dealership that sells Jaguar, Hyundai, Land Rover and Infiniti to Darrow Automotive, which owns Toyota of Augusta. Londoff/Londoff NASDAQ: CACC Changing lives since 1972. creditacceptance.com or 1-800-873-0512 Buyer: John Londoff Jr. Seller: John Londoff Sr. Locations: Pacific, Mo., and Florissant, Mo. Names of dealerships: Johnny Rick Greer Director of Sales and Marketing rgreer@crain.com 313-446-6050 Kathleen C. Lightbody, klightbody@crain.com, 313-446-6037 Russ Procassini, rprocassini@crain.com 313-446-0350 Karen Rentschler, krentschler@crain.com 313-446-6058 Jerry Salame, jsalame@crain.com 313-446-0481 Regional Sales Managers Colleen Robar Director of Marketing Communications crobar@crain.com, 313-446-0331 Ellen Dennehy Director of Relationship Marketing edennehy@crain.com, 313-446-6039 Cheryl Rothe, Marketing Manager crothe@crain.com, 313-446-6767 Lance Graves, Promotion Art Director lgraves@crain.com, 313-446-0469 Brandi Johnson, Marketing Coordinator bnjohnson@crain.com, 313-446-0326 Classified Advertising Sales Jim McCarter Marketplace Advertising Director jmccarter@autonews.com, 313-446-6065 Melissa McKay Classified Sales Manager mmckay@autonews.com, 313-446-1642 Denise Hendricks, 313-446-6066 LOS ANGELES Justus Breese jbreese@crain.com, 323-370-2446 Pacific Region Sales Manager Todd Landau, tlandau@crain.com 323-370-2466 Fax: 323-655-8157 Regional Sales Manager 6500 Wilshire Blvd., Los Angeles, CA 90048-4947 NEW YORK Scott Ghedine sghedine@crain.com, 212-210-0126 Henry Woodhouse hwoodhouse@crain.com, 212-210-0125 Regional Sales Managers 711 Third Ave., New York, NY 10017-4036 Fax: 212-210-0489 CHICAGO Jim Farnan, Regional Sales Manager jfarnan@crain.com, 312-649-5257 360 N. Michigan Ave., Chicago, IL 60601-3806 Fax: 312-649-5265 CONFERENCES Matson/Hagerty Buyer: Tom Matson Sr. Seller: Keith Hagerty Location: Auburn, Wash. Old name: Brewer Chrysler New name: Tom Matson ChryslerJeep-Dodge More: Hagerty transferred his Chrysler franchise to Matson as part of Chrysler LLC’s Project Genesis, which seeks to combine Chrysler, Dodge and Jeep franchises in the same dealerships. Matson will operate all three franchises out of his current Jeep-Dodge dealership. 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Name of seller Name, city and state of buyer Name, city and state of dealership being sold, including name change Franchises involved Name of broker if applicable Size of dealership (annual unit sales or sales revenue) Transaction price if possible Any other relevant information Your telephone number or e-mail address E-mail items to: rjohnson@crain.com Or send them to: Dealership Buy/Sell Managing Editor Automotive News 1155 Gratiot Ave. Detroit, MI 48207-2997 PRODUCTION Terry Driscoll, Production Manager tdriscoll@crain.com, 313-446-6062 Larry Williams, Production Supervisor AUTOMOTIVE NEWS EUROPE www.autonewseurope.com Jason Stein, Publisher jstein@craincom.de/+49-8153-907522 Nina Sauer, Sales and Marketing Director nsauer@craincom.de/+49-6992-884646 AUTOMOBILWOCHE www.automobilwoche.de Helmut Kluger, Publisher hkluger@craincom.de/+49-8153-907402 Thomas Heringer Sales and Marketing Director theringer@craincom.de/+49-8153-907404 http://www.autonews.com http://creditacceptance.com http://creditacceptance.com http://WWW.AUTONEWS.COM http://www.autonews.com/subscribe.htm http://www.autonewseurope.com http://www.automobilwoche.de
Table of Contents Feed for the Digital Edition of Automotive News - August 25, 2008 Automotive News - August 25, 2008 Looming cuts worry L-M dealers Bad blood Study: Toyota top U.S. lender How the kid got in the picture Hyundai affiliate to build transmission plant White House names acting NHTSA chief S&P lowers outlook on Sonic, Group 1 Now you can talk back: Join our online community Dodge dealers: We're in a box Company gets a fix-it list for pickups, SUVs from J.D. Power Mahindra delays U.S. launch Dealer Beyer now selling a 2009 Obama Nissan to leap into U.S. commercial-truck fray in 2010 China's Brilliance to show cars in Detroit Lawsuit alleges insider trades by CarMax execs Honda: Dealerships will have Fits more than a month early Infiniti's stylish stretch Cadillac will offer 4-cylinder sedan in '10 Chrysler redesigns new design boss' spot in exec ranks Genesis aims at low-priced luxury Letter to the Editor It's show and tell for auto industry in Washington Price cuts both ways The love affair continues Advance ads cost a lot, but help little Dealer-customer mandatory arbitration works Lithia sheds 2 of its Detroit 3 stores Japan sales slide; output, exports keep expanding L.A. dealers split on taking thumbprints of buyers Picture This With redesigned TL, Acura adds power, awd Personnel Chevrolet adjusts plans for coming decade GM revamps its vehicle lineup to succeed in a changed world Caddy relies on model updates over product development Buick buzzes about China Dismal sales make future of Hummer uncertain Budgets may crimp the lineup at Saturn Dreams aside, Pontiac will rely on small fwd cars Will GMC overhaul truck offerings? GM downsizes product lineup GM's powertrain plan: Less weight, better technology Hummer hopes pickup brings new buyers Dealers 'Ambush' boosts GM Certified DealerTrack adds market price checks Wholesale used-vehicle prices inch up in July Mexico sales up 2.6% in July; '08 near pace of '07 Collectors revive GM classics Honda's new Fit subcompact: Bigger, sportier Survey: Suppliers reconsider business with Chrysler Web site offers vehicle listings from Detroit 3 Nissan trains inspectors to improve quality A bumpy ride for dealer/lawmaker Buchanan Detroit dealers duel over bulk mailing Story links Nissan suicides, work pressure Times change, but supplier talk doesn't Garbage in, good stuff out Creed's creations Automotive News - August 25, 2008 Automotive News - August 25, 2008 - (Page Intro) Automotive News - August 25, 2008 - (Page BRC1) Automotive News - August 25, 2008 - (Page BRC2) Automotive News - August 25, 2008 - Study: Toyota top U.S. lender (Page 1) Automotive News - August 25, 2008 - Study: Toyota top U.S. lender (Page 2) Automotive News - August 25, 2008 - Dodge dealers: We're in a box (Page 3) Automotive News - August 25, 2008 - Nissan to leap into U.S. commercial-truck fray in 2010 (Page 4) Automotive News - August 25, 2008 - Nissan to leap into U.S. commercial-truck fray in 2010 (Page 5) Automotive News - August 25, 2008 - Cadillac will offer 4-cylinder sedan in '10 (Page 6) Automotive News - August 25, 2008 - Cadillac will offer 4-cylinder sedan in '10 (Page 7) Automotive News - August 25, 2008 - Genesis aims at low-priced luxury (Page 8) Automotive News - August 25, 2008 - Genesis aims at low-priced luxury (Page 9) Automotive News - August 25, 2008 - Genesis aims at low-priced luxury (Page 10) Automotive News - August 25, 2008 - Genesis aims at low-priced luxury (Page 11) Automotive News - August 25, 2008 - The love affair continues (Page 12) Automotive News - August 25, 2008 - The love affair continues (Page 13) Automotive News - August 25, 2008 - Dealer-customer mandatory arbitration works (Page 14) Automotive News - August 25, 2008 - Dealer-customer mandatory arbitration works (Page 15) Automotive News - August 25, 2008 - Lithia sheds 2 of its Detroit 3 stores (Page 16) Automotive News - August 25, 2008 - Lithia sheds 2 of its Detroit 3 stores (Page 16a) Automotive News - August 25, 2008 - Lithia sheds 2 of its Detroit 3 stores (Page 16b) Automotive News - August 25, 2008 - Japan sales slide; output, exports keep expanding (Page 17) Automotive News - August 25, 2008 - Japan sales slide; output, exports keep expanding (Page 18) Automotive News - August 25, 2008 - Japan sales slide; output, exports keep expanding (Page 19) Automotive News - August 25, 2008 - Picture This (Page 20) Automotive News - August 25, 2008 - Picture This (Page 21) Automotive News - August 25, 2008 - Picture This (Page 22) Automotive News - August 25, 2008 - With redesigned TL, Acura adds power, awd (Page 23) Automotive News - August 25, 2008 - Personnel (Page 24) Automotive News - August 25, 2008 - Personnel (Page 24a) Automotive News - August 25, 2008 - Personnel (Page 24b) Automotive News - August 25, 2008 - Personnel (Page 24c) Automotive News - August 25, 2008 - Personnel (Page 24d) Automotive News - August 25, 2008 - Personnel (Page 25) Automotive News - August 25, 2008 - GM revamps its vehicle lineup to succeed in a changed world (Page 26) Automotive News - August 25, 2008 - Caddy relies on model updates over product development (Page 27) Automotive News - August 25, 2008 - Budgets may crimp the lineup at Saturn (Page 28) Automotive News - August 25, 2008 - Budgets may crimp the lineup at Saturn (Page 29) Automotive News - August 25, 2008 - Dreams aside, Pontiac will rely on small fwd cars (Page 30) Automotive News - August 25, 2008 - GM downsizes product lineup (Page 31) Automotive News - August 25, 2008 - GM's powertrain plan: Less weight, better technology (Page 32) Automotive News - August 25, 2008 - Dealers (Page 33) Automotive News - August 25, 2008 - Wholesale used-vehicle prices inch up in July (Page 34) Automotive News - August 25, 2008 - Wholesale used-vehicle prices inch up in July (Page 35) Automotive News - August 25, 2008 - Wholesale used-vehicle prices inch up in July (Page 36) Automotive News - August 25, 2008 - Wholesale used-vehicle prices inch up in July (Page 37) Automotive News - August 25, 2008 - Wholesale used-vehicle prices inch up in July (Page 38) Automotive News - August 25, 2008 - Mexico sales up 2.6% in July; '08 near pace of '07 (Page 39) Automotive News - August 25, 2008 - Collectors revive GM classics (Page 40) Automotive News - August 25, 2008 - Honda's new Fit subcompact: Bigger, sportier (Page 41) Automotive News - August 25, 2008 - Survey: Suppliers reconsider business with Chrysler (Page 42) Automotive News - August 25, 2008 - Survey: Suppliers reconsider business with Chrysler (Page 43) Automotive News - August 25, 2008 - Nissan trains inspectors to improve quality (Page 44) Automotive News - August 25, 2008 - Nissan trains inspectors to improve quality (Page 45) Automotive News - August 25, 2008 - Creed's creations (Page 46) Automotive News - August 25, 2008 - Creed's creations (Page 47) Automotive News - August 25, 2008 - Creed's creations (Page 48)
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