Bell and Howard Chevrolet merges with Randy Marion

[ohiobuckeyes]

Yesterday I was reading my many newspapers online and saw this story...


By: Bethany Fuller | Statesville Record & Landmark
Published: July 17, 2012

Two local Chevrolet dealerships recently joined forces to infuse Statesville’s oldest dealership with much-needed capital.

Bell & Howard Chevrolet on Gaither Road signed a partnership deal with Randy Marion, who already owns new-car dealerships in Mooresville and Huntersville, according to Bell & Howard manager John Howard.

The Howards have owned and operated the Gaither Road dealership for 55 years. The merger with Marion — terms of which were not disclosed — is more like two families coming together than two dealerships, Howard said.

“We were struggling,” he said. “(Marion) brought the money needed to recapitalize the store. He knows the potential of Statesville.”

The dealership is now called Randy Marion Chevrolet of Statesville.

The arrangement will extend Randy Marion Auto Group’s consumer base to Taylorsville and Elkin, said Ben Goins, operations director. It will also provide Statesville customers with a wider range of cars to choose from, especially from Marion’s pre-owned vehicles selection.

“If you look where Statesville is, it represents the hub of this part of the state,” Goins said. “Randy has a huge inventory of vehicles. In the market today, it is better to pull from different locations.”

Since the deal was officially signed Friday, new temporary Randy Marion signage has been installed and 40 new cars were added to the lot.

Marion’s proposal came at just the right time, said Howard, who added that the dealership fell on hard times when the economy took a nose dive in 2008.

Howard said all dealership employees will remain in their current positions.

Newspaper Link

Side Note - Bell and Howard sold Cadillac to Randy Marion in June 2011.

[XDCX]

I just had a chance to read this thread for the first time. It was very interesting - thanks for posting it.

I think this thread is a good reminder that while the car business is certainly much improved from 2008 and 2009, there are still dealers out there who are struggling in a tough economy. I think too often we hear about the strong results from the metro dealerships and the public dealer groups and we forget that some stores are still on the brink of going out of business.

On a different note, I can only think of one or two other examples where an outside dealer has infused capital so he/she could partner with the existing dealer. I wonder if this deal is based more on friendship or Good Karma then it is on business fundamentals?

Regardless, I'm happy to hear that Bell and Howard has received an infusion of capital and the dealership will remain open and the employees will still have their jobs.