Lap of Luxury: AutoNation Acquires Bay Area Highline Rooftops
AutoNation announced the purchase of the Audi, Mercedes-Benz and Porsche dealerships in Fremont, a San Jose-adjacent city in California’s high-income East Bay region of the San Francisco Bay Area.
Fremont borders Silicon Valley, is home to Tesla’s original assembly plant, and boasts a median household income of more than $175,000.
“This acquisition strengthens our Premium Luxury portfolio in a highly attractive California market and reflects our disciplined approach to deploying capital into high-quality assets,” writes AutoNation CEO Mike Manley in a release.
The dealerships were previously owned by Fletcher Jones Automotive Group. They collectively generate nearly 5,000 new and used vehicle sales per year, contributing to approximately $400 million in annual revenue. The acquisition grows AutoNation’s California footprint to 46 rooftops, including 21 highline stores, according to the release.
