Quote:
Originally Posted by XDCX
I noticed the testimonial mentioned the purchaser was a first time buyer - I wonder if it was a second generation Dealer buying his first additional store or whether it was a non-owner buying his first dealership?
I remember Moshe mentioning in the past that one of the trends he's witnessed over the years is fewer first time buyers and more stores being sold to public groups and mega dealers.
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The trend you referenced about public companies and large groups has frankly accelerated with the recent entry of private equity groups and non-automotive (well off) families wanting to enter our small automotive club. I guess Warren Buffet got their attention.
Nonetheless, the buyer of Sterling Chevrolet was indeed a first time buyer.