Halfway through 2024, industry transaction volume clearly seems to have ebbed from the heady pace of the pandemic’s early years. But plenty of deals — large and small — continue to come to market, and consolidation-minded owners remain on the prowl to buy stores to help them scale operations. At the same time, many large operators are using this time to fully examine their footprints and sell stores that may no longer justify their time and resources — whether for reasons of brand, geography or performance. This kind of active portfolio management is happening with both the public dealership groups and private owners, and the Presidio team, which has advised many dealers on such moves, fully expects it to continue. Many aging dealers also are nearing the end of long and successful careers, and some are exploring exits while valuations remain relatively strong.
Transaction counts through June are pacing lower than in the first half of 2023, with 155 transactions involving 265 dealerships recorded so far. But data is still preliminary, and this first-half tally is likely to increase as news of more deals trickles out.