Six publicly-traded dealership groups are engaged in a game of Monopoly - but like, in real life. In the last few years, AutoNation, Lithia Motors, Group 1 Automotive, Sonic Automotive, Penske, and Asbury Automotive Group have used the chaos of the last few years to buy up a growing portion of the nation’s franchise stores.
While their total ownership stake is still a small part of the US market, the companies are pressing harder into the strategy. Buying back stocks, investing in more stores, and expanding into other businesses like online retailers may lead to market domination despite consumer frustration at higher prices.
TL:DR — A high-ranking S. Korean-based auto park maker is pulling a divide and conquer, while SK Group, the 2nd largest individually controlled S. Korean conglomerate, invests in safe chargers for apartment buildings. Each move feels like an investment in being key players in the global shift toward electrification.