VinFast Expands With 12 New Dealers
VinFast Auto signed agreements with 12 new dealers in the U.S., bringing the total number of VinFast dealers in the US to 18,
The new dealerships, which will start selling the VF 8 model, followed by the VF 9 and VF 7 soon after their US launch, span across seven states: North Carolina, New York, Texas, Florida, Kansas, Connecticut, and Kentucky. California, the state with the highest EV adoption rate in the US, already boasts 15 operational VinFast stores and service centers.
The 12 new dealers are Premier VinFast, Banford, CT; H Greg VinFast, West Palm Beach, FL; Triad VinFast, Greensboro, NC; H Greg VinFast, Doral, FL; Sandy Sansing VinFast, Pensacola, FL; VinFast Austin, TX; VinFast Gainesville, FL; Ewing VinFast of Plano, TX; VinFast of Bowling Green, KY; Hanna VinFast of Bradenton, FL; DeMontrond VinFast, Conroe, TX; and DeMontrond VinFast North, Houston, TX
Fairway Ford Purchases Ohio Dealership
A group affiliated with the owners of Fairway Ford have acquired Power GM in Calcutta, OH. The new name of the Calcutta showroom is Fairway Chevrolet GMC.
According to a published report, an entity related to Fairway, Jenert Properties LLC, purchased the Power GM dealership’s building and land for $7 million. The sale was recorded April 15.
In October, Pittsburgh-based #1 Cochran purchased the assets of Flynn Automotive Group, which included the Power GM store. According to auditor records, an entity, 15482 State LLC, purchased Power GM’s land and building for $4.3 million.
2AutoGroup Acquires New Mexico Lot
2AutoGroup completed a deal with Sonic Automotive to purchase Enchanted Mazda, which now operates as Santa Fe Mazda.
2AutoGroup, established in January 2018 with the acquisition of its inaugural store in Colorado, has steadily expanded to encompass six stores representing nine brands strategically located across the state of Colorado. This latest acquisition marks their first store outside of Colorado and into the vibrant automotive market of Santa Fe, New Mexico, a move eagerly anticipated by the entire team.
“We are delighted to embark on this exciting journey with the acquisition of Enchanted Mazda,” remarked Paul Tew, president of 2AutoGroup. “Santa Fe’s unique blend of culture and economic dynamism aligns seamlessly with our vision for expansion and growth.”
Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States, operating in 24 states with over 100 dealerships representing over 25 different brands of automobiles.
Sonic worked with Pinnacle Mergers & Acquisitions in the deal. Pinnacle has a long-standing relationship with Sonic Automotive has led to more than 50 transactions dating back to 1997, representing them both as buyers and sellers.
Hello Eyeing North California Expansion
Hello Auto Group is looking to expand to the northern end of California.
The Valencia-based company, which has six automobile dealerships in Southern California, purchased a 2.17-acre property in Santa Rosa Avefor $2.2 million, according to public records. The seller was an affiliate of the Lamperti family who have owned nearby Tony’s Toys & Trucks used-car dealership since 1989.
Hello has submitted plans to the city of Santa Rosa to open a Mazda dealership for new and used vehicles. CEO Karl Schmidt would like to open it in 18 months, starting with 40 people working there and adding another 10 to 15 when the service center is fully operational.
