Throughout 2023, dealerships in the Greater New England market area have continued to sell for more than they had prior to 2020. However, year-over-year Business Value as a percent of total dealership sales decreased from 18.7% in 2022 by 5.3% to 13.4% thereby marking the beginning of the re-normalization of dealership values. While we believe that dealerships will not revert to their former value range, dealership appreciation is on hold for now. The pool of financially capable buyers has also undergone a reduction in size due in part to worldly concerns, higher interest rates and lots full of unsold vehicles.
Nancy Phillips Associates has been exclusively representing new franchised dealers throughout New England and New York for over three decades. Our clients give us their highest recommendations for professionalism, the level of service we provide, our strait forward approach and our success rate. We have, during all of our time in business, sold over 95% of the dealerships we have represented.
When you are thinking about selling, there are many compelling reasons to have us on your side. If you are interested in having a discussion, please contact us for a completely confidential conversation and guidance on how to prepare yourself for the next steps if you decide to go forward.
If you are further along in the process, call us to discuss our Dealership Evaluation and Targeted Buyer Services and remember that every successful transaction begins with the accurate determination of your dealership’s potential value.