Toyota, the top-selling import franchise in Pittsburgh, has been a driving force behind the area's automotive success.
Kerrigan Advisors represented Ascent Automotive Group in the sale of Toyota of Greensburg to Jim Shorkey Auto Group. This transaction marks Kerrigan Advisors’ 286th dealership sale, the 21st in the Northeast, and the 37th Toyota franchise sold since the firm’s inception.
The sale includes Toyota of Greensburg, a high-volume dealership located in the affluent suburb of Greensburg, Pennsylvania. As the highest-volume dealership in the region, Toyota of Greensburg serves as a cornerstone of the local automotive retail market. The acquisition by Jim Shorkey Auto Group, a family-owned dealership group with 17 locations in the Northeast, ensures that the dealership will continue to thrive under new ownership. Jim Shorkey Auto Group, founded in 1974, is well-positioned to uphold the strong legacy established by The Friedkin Group, which has owned Ascent Automotive Group since 2004.
The transaction is significant for several reasons. Not only does it represent Kerrigan Advisors’ continued success in facilitating high-profile dealership transactions, but it also highlights the nature of the Pittsburgh market. Pittsburgh, the second-largest metropolitan area in Pennsylvania, has experienced rapid population growth, attracting significant investments from national corporations. With over 2.4 million residents, the region offers a powerful economy, a skilled workforce, and a favorable pro-business environment, making it an attractive market for auto dealers.
Toyota, the top-selling import franchise in Pittsburgh, has been a driving force behind the area’s automotive success. In 2024, Toyota achieved 15% sales growth, the highest among all volume import brands. With a longstanding history of leading the industry in sales per franchise, Toyota’s strong dealer-OEM partnerships and effective inventory management continue to set the brand apart from its competitors. The Toyota brand’s consistent profitability and dominance in the market make its franchises highly sought after, as evidenced by Kerrigan Advisors’ experience in selling Toyota dealerships.
Toyota’s consistent sales performance, brand recognition, and profitability have made it one of the most desirable franchises in the automotive industry. Toyota has led luxury and non-luxury segments in sales per franchise for over 15 years, and its strong market performance has made it a top contender in Kerrigan’s Buyer Database. With 37 Toyota dealership sales under its belt, Kerrigan Advisors is considered the industry leader in Toyota franchise transactions.
Kerrigan Advisors is the leading exclusive sell-side advisor and thought partner to auto dealers nationwide. Since its founding in 2014, the firm has led the industry with the sale of over 280 auto dealerships representing $9 billion in client proceeds, including the third largest transaction in auto retail history – the sale of Jim Koons Automotive Companies to Asbury Automotive Group. Kerrigan Advisors advises the industry’s leading dealership groups, enhancing value through the lifecycle of growing, operating and, when the time is right, selling their businesses. Led by a team of veteran industry experts with backgrounds in investment banking, private equity, consulting, accounting, finance and real estate, we not take listings nor do we employ a brokerage model; rather we develop a customized sales approach for each client to achieve their personal and financial goals. In addition to the firm’s sell-side advisory services, Kerrigan Advisors also provides a suite of automobile dealership consulting and investor services including growth strategy, market valuation assessments, capital allocation, transactional due diligence, open point proposals, operational improvement and real estate due diligence.
Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report®, the industry authority on dealership buy/sell market trends and valuations and includes Kerrigan Advisors’ signature blue sky charts, multiples and analysis for each franchise in the luxury and non-luxury segments. To download a preview of the report, click here. The firm also releases The Kerrigan Index™ comprised of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here. To read the 2024 Kerrigan Dealer Survey, click here. To read the 2024 Kerrigan OEM Survey, click here. Kerrigan Advisors also is the co-author of NADA’s Guide to Buying and Selling a Dealership.
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