Selling For The BIGGEST Bucks, Bye Bye Bolt, Free Gas on the 4th

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It’s a great Thursday to be in the car biz as we talk about a record breaking dealership sale. We also tell you when to get that new Chevy Bolt, as well as a $50 gas card from Old Navy. We told you it was a great day. 

Show Notes with links:

• In a record breaking transaction, Florida-based Al Hendrickson Toyota, the second-busiest dealership in the US, has been sold to Morgan Automotive Group in what has become the most expensive dealership purchase in history. The landmark deal, facilitated by Haig Partners, underscores a vibrant dealership buy-sell market, undeterred by the ongoing uncertainties brought by the COVID-19 pandemic.
  • Al Hendrickson, Jr. stated in a press release, “I always knew I wanted to be in business with my Dad, and I am so incredibly fortunate to have had the opportunity to spend the last 30+ years working with and learning from him. Our approach to business has always been that we are not in the car business, rather, we are in the people business. We live by our slogan, ‘It’s All About You,’ in providing exceptional customer service, making it a point to know all our more than 200 associates by name and being active in our communities. To say that I am extremely proud of what we have built together is an understatement. It is truly more than I could have ever dreamed. I have loved every minute of these 30+ years.”
  • Morgan Automotive Group, also a family business, is Florida's largest dealership conglomerate. With this latest acquisition, the group now owns 67 stores across multiple brands.
• If you want a new Chevy Bolt, you'd better get to the dealership fast! Time is running out for fans of the popular EV as GM has announced it will be discontinuing production of the Bolt later this year, focusing instead on its newer Ultium platform-based models.
  • Despite the Bolt being a best-seller and a "huge technical achievement," GM plans to transition its EV portfolio to its Ultium platform.
  • GM will replace the Bolt with the low-cost Equinox EV, starting at around $30,000, with up to 300 miles of range, although it's unclear when the new model will be widely available as their focus will be on three high-volume Ultium-based models launching this year – the Silverado EV, the Blazer EV, and the Equinox EV.
  • The last order cycle for the Chevy Bolt EV and EUV starts on Thursday, August 17
    
    
• Old Navy is leaning into the automotive experience tied to the 4th of July as they are giving free gas to the first 250 cars at select RaceTrac stations across five U.S. states. 
  • Free gas events will take place in Orlando, Atlanta, Dallas, Nashville, and New Orleans.
  • Old Navy credit card holders will receive double the rewards, with each car receiving a $50 RaceTrac gift card.

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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