Carbone Auto Group Sold To Lithia Motors
Officials with Lithia say the addition of Carbone further expands their growth potential in the Northeast and across the United States.
Bryan DeBoer, President and Chief Executive Officer, commented, "We're excited to welcome Enessa and Alex Carbone and the entire Carbone team to our family and look forward to sharing best practices to inspire continuous improvement. For over 85 years, Carbone has served their local communities in upstate New York."
Carbone Auto Group, which operates nine stores in central New York and Vermont, is estimated to generate over $600 million in annual sales. After optimizing the current franchises and operations, the group will consist of 13 stores: two stores each of Honda, Subaru and Ford and one store each of Toyota, Chevrolet, GMC Buick Cadillac, Chrysler Jeep Dodge Ram, Nissan, Hyundai and BMW.
Lithia sells 31 brands of new vehicles and all brands of used vehicles at 150 stores in 16 states.
The purchase price was not disclosed.