Auto Class Cars, a subsidiary of Nasser Bin Khaled Group in Qatar, revealed today a new addition to its portfolio of car brands, Lynk and Co, a luxury Chinese-European automotive company. This expansion allows Auto Class Cars to offer a wider range of luxury vehicles to its customers. Meanwhile, El Paso-based Casa Auto Group has acquired the Borman Autoplex in Las Cruces, adding Hyundai and Mazda to its portfolio and expanding its workforce to about 780 employees. The acquisition is expected to boost Casa's projected sales to about 18,000 vehicles in 2024. Casa's CEO, Ronnie Lowenfield, believes that the future of automotive retail will require expansion to compete with larger dealership groups. The company also aims to capitalize on the growing trend of online sales by offering free delivery within 100 miles of any Casa location. [a6f0fe57][d39a39b7]
In another strategic move, MileOne Autogroup has acquired Koons Wilmington Lexus from Asbury Automotive, marking their entry into the Wilmington market and highlighting the trend of consolidation in the luxury auto sector. The acquisition allows MileOne to expand its geographical footprint, tap into a new customer base, and strengthen its market presence. The move reflects the company's ambition to be a dominant player in the automotive dealership landscape. The acquisition is part of a larger trend of consolidation in the automotive sector, particularly in the luxury and premium segments. Companies are aggressively pursuing acquisitions to bolster their market share and revenue streams. The ongoing M&A activity is expected to continue, shaping the future of automotive retail and dealership operations. [216a5ac7]