Kerrigan: Q1 Sets Another Record for Dealer Buy-Sell Activity
The U.S. auto dealership buy-sell market set another record in the first quarter of 2026, with transactions rising 21% year over year, according to the latest Blue Sky Report from Kerrigan Advisors.
“This quarter’s impressive performance illustrates a market operating on long-term conviction, rather than short-term earnings,” writes Erin Kerrigan, founder and managing director of Kerrigan Advisors, in a release. “Dealers and buyers alike see auto retail’s fundamentals as durable, and the most desirable franchises are commanding record prices.”
A trailing 12-month total of 478 transactions through March marks the highest level ever recorded, driven in part by a resurgence in deals involving multiple dealerships and record franchise valuations for top brands. Multistore transactions rose 36% year over year, while the Kerrigan Blue Sky Index climbed to 178, with Toyota and Lexus hitting record blue sky values.
Analysts note the average acquisition price per rooftop owned by a publicly traded group rose to nearly $200 million in the quarter, up more than 250% from a year ago.
