Dealership M&A Climbs 14.3% as Haig Partners Introduces New Franchise Horsepower Index

Industry

โดย Business Wire·

Summary · why it matters

U.S. auto dealership acquisitions rose 14.3% in the first half of 2026 compared with the same period in 2025, while the number of transactions increased just 3.2%, according to the Q2 2026 Haig Report from Haig Partners. The report also introduces a new Franchise Horsepower Index measuring new-vehicle economics, finds buyers completing larger transactions and concentrating capital on premium franchises, and identifies Honda as one of today's most attractive acquisition opportunities. Five transactions involving five or more dealerships were completed during the first half of 2026, compared with none in the same period last year. The average blue sky value of a publicly owned dealership was $18.2 million for the twelve months ended Q2 2026, essentially unchanged from the first quarter and more than twice the $8.3 million average recorded in 2019, though down modestly from $19.0 million in full-year 2025. Premium luxury franchises represented 36.1% of acquisitions by Top 20 dealer groups during the last 24 months, up from 22.8% during 2020 and 2021, while domestic franchises fell from 28.7% to 15.1% over the same periods. Haig Partners raised its estimated blue sky multiple ranges for Toyota and Lexus, reduced the top end of its Porsche range, and said Honda's estimated blue sky multiple remains nearly 20% below Toyota's, creating what it believes is an unusually attractive buying opportunity.