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Auto Dealers Need Succession Advice

Originally published on Advisor.ca

Do you have a car dealer as a client?  There’s a 1-in-3 chance they will be retired in the next year, according to the 2011 PwC Automotive Dealer Trendsetter Survey. The report says 30% of dealerships will be out of business in the next 12 months.

Those that survive may be looking to you for advice on business expansion.

Auto dealers surveyed by the PwC, excluding dealerships controlled by groups, also clearly expressed their plan to be completely out of their business within 10 years, meaning that there could be a complete “changing of the guard” at single point dealers across Canada by 2021.

“With so many auto dealers planning to leave, the potential for further dealer consolidation and the rise in new owners is expected to be high,” says Damian Peluso, national automotive leader of the PwC. “There’s going to be an unprecedented opportunity for existing dealer groups to acquire additional stores.”

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Originally published on Advisor.ca

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