Asbury bought essentially the most dealerships with 16, date Lithia divested 13.
The folk teams “took their foot off the gas in 2022,” consistent with the fourth-quarter Haig File, revealed through Haig Companions, a buy-sell company in Castle Lauderdale, Fla.
Haig Companions impaired regulatory filings to estimate that the folk teams spent round $1.85 billion mixed on acquisitions utmost presen, a isolated fall of 80 p.c from the company’s estimate of just about $9.1 billion spent in 2021.
Kerrigan Advisors, a sell-side dealership advisory company in Lean Village, Nev., that still tracks do business in, estimated that the publics spent $1.9 billion on acquisitions in 2022.
Kerrigan Advisors in its 2022 annual Blue Sky File estimated the publics’ fourth-quarter acquisition spending plunged 94 p.c from the estimated $6.3 billion spent within the fourth quarter of 2021.
“The decline in the publics’ acquisition spending in 2022 was largely a byproduct of their falling market valuations throughout most of the year, as Wall Street discounted these companies’ ability to sustain record profitability,” Kerrigan Advisors mentioned in its record.