finance
U.S. Auto Dealerships Face Consolidation with Rise of Large Retailers
Consolidation in the U.S. auto retail industry has led to growth among larger dealership groups, while smaller ones adapt or sell. Companies like Matthews Auto Group have expanded through acquisitions, such as purchasing Sylvester Chevrolet. Industry experts note ongoing mergers and acquisitions amid competitive pressures.
Apr 18, 8:00 AM·1m read1 source
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Multibillion-dollar dealerships have increased in the U.
U.S. auto retail sector due to ongoing consolidation over decades. This trend has created a grow-or-die approach for many retailers.
Expansion Matthews Auto Group, a family-owned company founded in 1973 in Vestal, New York, started with a single Chrysler-Plymouth store.
It has grown into an $800 million business with 18 locations and 800 employees across New York and Pennsylvania. The company recently acquired Sylvester Chevrolet in Peckville, Pennsylvania. Rob Matthews, CEO of Matthews Auto Group, stated that the decision to expand aims to increase profitability and competitiveness in current markets.
auto-industrydealership-consolidationmergers-and-acquisitionsus-retailautomotive-salesbusiness-growth
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