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The green deal industrial plan and automotive sector impacts

By on May 24, 2023

European automobile manufacturers have expressed concerns about the risks posed by the United States’ Inflation Reduction Act and the possibility of ‘investment leakage’ out of the European Union (EU). Also, due to the arrival of Chinese government-subsidized EV manufacturers, more and more brands like NIO, Xpeng, BYD, Byton and several Geely brands have become visible on European streets. Without stronger financial and regulatory support for nascent industries, the scale of the subsidies available in the US and China may attract green and advanced technologies at Europe’s expense – from development to production and manufacturing. The four pillars To address this…

Car dealerships sell in 4 states in single-store deals

By on April 20, 2023

Morrie’s Auto Group made its first acquisition of 2023 and entered a new part of Minnesota with the purchase of a Stellantis store this month. Morrie’s, of Minnetonka, Minn., west of Minneapolis, on April 3 bought Brandl Motors Chrysler-Dodge-Jeep-Ram from longtime owners Joe Sexton and Gary Posch. The dealership was renamed Morrie’s Little Falls Chrysler-Dodge-Jeep-Ram. Little Falls, north of St. Cloud, is now the northern-most Minnesota location in the group’s portfolio, Morrie’s Auto CEO Lance Iserman said. “They wanted to exit the business, and this is their only store,” said Iserman of the sellers. “We thought it was a great…

Lincoln, GM and Ford dealerships sell in deals across 4 states

By on March 23, 2023

LaFontaine Automotive Group has acquired Pfeiffer Lincoln in Grand Rapids, Mich., marking the second Grand Rapids dealership for the Highland, Mich., group as it continues to expand into western Michigan. The acquisition, which closed Monday, follows LaFontaine Automotive’s August purchase of Keller Ford. The Lincoln store purchased from the Pfeiffer family was renamed LaFontaine Lincoln Grand Rapids. “In short order, we’ve seen tremendous opportunity in the greater Grand Rapids area for continued growth for our group,” LaFontaine CEO Ryan LaFontaine said in a statement. LaFontaine Automotive now has 53 franchises, representing 24 brands and nine collision centers, all in Michigan.…