2016 will see fewer dealership acquisitions
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THE MOTOR CITY -- The popular car dealer acquisition marketplace will probably slow in 2016 as retailer profits get squeezed by plateauing new-car revenue. A number of the business's most notable car dealer acquirers say they anticipate to do less bargains this year as they're reluctant, facing falling proceeds, to pay costs that could presume a continuance of 2015's strong profit margins. But vendors are not prepared to lower their selling prices just yet.
"It might have some time for the purchase-sell marketplace to come to grips with that new world." Asbury CEO Craig Monaghan
Share prices of the six publicly-traded car dealer groups have taken a serious hit in recent months, suggesting that Wall Street anticipates lower gains from them. For Craig Monaghan, Chief Executive Officer of community retailer Asbury Automotive Group Inc., the consequences are "that most auto shops in the state" additionally have lost a substantial percentage of their worth.
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