Auto dealers like to pose as “Main Street” “mom and pop” businesses, in order to get concessions from legislators and regulators. But according to Automotive News, “The $1 billion club for 2012 includes 34 [dealership] groups, including 13 with more than $2 billion.”
Increasingly, auto dealerships are consolidating and thousands are publicly traded on Wall Street. Microsoft’s Bill Gates is one of the largest investors in the nation’s largest auto dealership chain, AutoNation, which reportedly grossed $15,668,8000,000 last year.*
*Automotive News, “Top 125 dealership groups in the U.S.” – March, 2013.