A Tennessee-based automotive group sold its last dealership after more than 30 years in business.
The last of Memphis-based Sunrise Auto Group’s three stores, Sunrise Buick GMC Covington Pike, to Jim Keras Automotive, also based in Memphis.
Tennessee Dealership Changes Hands
Sale is last of auto group that operated Memphis-area stores for decades.
August 28, 2024
The recently sold Memphis store is the second-highest volume Buick GMC store in the metro area.
Credit:
General Motors
1 min to read
Sell-side firm Kerrigan Advisors represented Sunrise in the transaction, in addition to the sale of its other two stores.
Sunrise was founded by Bob Berkheimer. Before the recent deal, Keras Automotive had six dealerships between Tennessee and Missouri among Chevrolet, Chrysler-Dodge-Jeep-Ram, Nissan and Subaru.
The growing market of Memphis is the Southeast’s third biggest metropolitan area, Kerrigan said, and the Sunrise store generates its second highest sales volume of any Buick GMC dealership.
“Based on our analysis, we expect the strength in the Southern buy/sell market to continue,” said Kerrigan founder and Managing Director Erin Kerrigan in a press release on the sale. The firm said it’s handled 85 dealership sales there since 2020.
AUTO GROUP ANNIVERSARY: Holman Celebrates 100 Years of 'Driving What's Right'
Originally posted on Auto Dealer Today
More Industry
Black Book: Weekly Market Update
Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.
Read More →
EV Battery Cycle Life at Risk
Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
Read More →
Founding Family Sells Nebraska Dealerships
Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.
Read More →
Automaker Increases Parts Recycling
Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.
Read More →
March New-Vehicle Sales Don’t Reflect War
Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
Read More →
Volvo to Shift Some EV Production to U.S.
The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.
Read More →
Black Book: Weekly Market Update
Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.
Read More →
Gas Prices Driving Consumer Interest
CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.
Read More →
Automakers Have More Tricks Up Their Sleeves
JD Power analysts see auto retail faring this year’s storms well through various means, though it acknowledges conditions are challenging to accurately predict.
Read More →
Insurance Rates Continue to Fall
Car insurance premiums have continued to decline so far this year, the overall national average settling at $138 per month in March, according to Insurify data.
Read More →