Group 1 sells Honda, Toyota dealerships in Massachusetts

Ira Toyota of Tewksbury was renamed AutoFair Toyota of Tewksbury, AMSI verified. AMSI obtained AutoFair Automotive Group, a seven-keep group in New Hampshire and Massachusetts, in December.

Ira Honda was renamed Parkway Honda. Gregg Vitello, a associate in Parkway Honda, advised Automotive News he had been waiting around for the probability to invest in the Honda keep, which is up coming to Parkway Toyota of Boston, a keep in which he is also a husband or wife. Taylor purchased Parkway Toyota in March 2021 from Key Automotive Group.

“It can be a terrific possibility,” Vitello mentioned of Parkway Honda. “We are quite, incredibly fired up about it.”

Vitello claimed he also is a lover in BMW of Freeport, Mini of Freeport and Mercedes-Benz of Massapequa in Amityville, all in New York state. Taylor obtained all those retailers from Group 1 in 2014, in accordance to Automotive Information‘ buy-offer database.

Group 1 acquired Ira Honda in West Roxbury from Key Automotive Group in November, part of an $880-million acquire initial announced in September. Team 1 reported it prepared to obtain 30 Key dealerships and closed on the invest in of 28 outlets. A Toyota dealership was dropped from the transaction because of to Group 1’s framework agreement limitations, while the buy of Key Subaru of Manchester in New Hampshire has been in dispute with distributor Subaru of New England.

“We consider each and every procedure and normally acquire and offer dealerships to meet up with our interior targets,” DeLongchamps informed Automotive Information in an email about Team 1’s choice to sell the Honda dealership.

Team 1 ranks No. 4 on Automotive Information‘ most new listing of the leading 150 dealership groups based mostly in the U.S., retailing 140,221 new vehicles in 2020.

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