The automotive industry is changing fast. Covid shutdowns paired with tons of new technology are forcing an evolution -- one which many dealers are not equipped to handle.
Throughout the life of any business, having a proper valuation is important for several reasons, but many dealerships, especially legacy family businesses that have been in business “forever,” have not gotten a valuation done in years.
Some car dealers are running scared because of “disrupters” in the industry. Carvana, Uber, and new technology like autonomous cars are making some owners feel like it’s time to cash in. But is there a reason to be worried?