May
22

Sellers of Auto Dealership Property in Drivers Seat

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As real estate brokers who handle automobile dealership property sales can attest, investors and car dealers have been clamoring for lots, causing the pace of auto dealership sales to accelerate at double-digit rates since 2009.

In addition, the number of new auto dealerships is increasing again following fuller economic recovery. According to The National Automobile Dealers Association, there were 17,635 franchised automobile dealerships as of Jan. 1, 2013, which was up from 17,500 from a year earlier. (Newer numbers are to be released in July).

Those numbers don’t include the approximately 37,026 independent used vehicle dealers in the retail automotive industry.

“Auto dealers are enjoying record profits, new vehicle sales are strong and rising, and the economy is improving. Those factors are driving (dealership) valuations to all-time highs. It’s an ideal environment for sellers,” said Alan Haig, head of Haig Partners LLC in Fort Lauderdale.

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