Bob Morris of the Tim Lamb Group brokered the sale of Honda and Hyundai dealerships in Christiansburg, Va. Gary Duncan, whose father Paul started Duncan Automotive Network back in 1955, sold the two New River Valley dealerships to local group Shelor Motor Mile.

Duncan, who still owns six dealerships, said his decision to sell was based on the economies of scale that come with a large group like Shelor. One example he gave was the ability to offer better benefits for the employees. Duncan, 72, said that his age was a factor in the decision.

In a release announcing the sale, Don Hall, president of the Virginia Automobile Dealers Association, noted that the trend of smaller franchises selling to big groups could also be related to rising inventory costs and the desire of consumers to utilize new technologies in their car-buying process — specifically, software that empowers consumers to do more of their research and shopping online — and these solutions can often be too expensive for smaller dealers.

“Like so many other industries, ours is undergoing massive consolidation,” Hall said.

Read more at Tim Lamb Group