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Community 1 Automobile has bought a Mercedes-Benz dealership, which it says is its 17th retailer selling the emblem.
December 02, 2022 07:34 PM
Community 1 Automobile Inc. has expanded its U.S. luxurious portfolio with the blueprint shut of Mercedes-Benz of Anaheim in California.
The retailer appears to be like to hold been owned by Caliber Motors, in accordance with California dealership license files, and became as soon as primarily based in 1984, in accordance with the retailer’s web space. A Community 1 spokeswoman confirmed the transaction took place Thursday.
The dealership, which contains a Sprinter franchise, is anticipated to generate $200 million in annual earnings, Community 1 stated.
The dealership workforce is “extraordinarily joyful to expand our new operations in Southern California with this expansive model,” Community 1 CEO Earl Hesterberg stated in an announcement. “Our solid relationship with Mercedes-Benz and ride in this market home produce this dealership a truly excellent addition to our portfolio.”
Community 1 in July added one other Mercedes-Benz dealership, in Louisiana, along with Jaguar-Land Rover and Volvo dealerships.
The company stated it has bought dealerships representing $940 million in annual earnings this one year.
The Houston auto retailer also has sold some stores this one year. In the second quarter, Community 1 sold a Hyundai dealership in Texas to Steele Auto Community and sold Volkswagen Norwood in the Boston home to DCD Automobile Holdings. Community 1 also sold two dealerships in Massachusetts in February.
The auto retailer carried out an undisclosed retailer sale in the third quarter.
Community 1 Automobile ranks No. 4 on Automobile news’ list of the head 150 dealership groups primarily primarily based in the U.S., retailing 146,072 new vehicles in 2021.