Navigating Auto Industry Headwinds While Expanding Dealerships

Inside Automotive with Jim Fitzpatrick, powered by CBT News

Jim Keffer, CEO of Keffer Auto Group, shares how his organization continues expanding through acquisitions while navigating industry challenges by focusing on equity partnerships with talented operators.
• New acquisition of a Chevrolet dealership in Minnesota demonstrates their growth strategy despite retail headwinds
• Keffer's unique business model offers equity partnerships to strong operators rather than focusing primarily on location or brand
• Philosophy originated with Jim's father who received a similar opportunity in 1974 from Charles Johnson
• Decentralized management approach gives owner-operators autonomy to make decisions for their specific markets
• Acquisition targets focus on stores with upside potential rather than already-optimized dealerships commanding premium multiples
• Strong used car operators make ideal partners as they can quickly improve profitability while building other departments
• EV tax credit rollback presents challenges but represents a small portion of total business currently
• Upcoming tariffs likely to further impact vehicle affordability with manufacturers unable to fully absorb the 15% increases
• Industry may need to develop more used vehicle leasing programs to address affordability concerns
• Competitive mindset summarized by Keffer's bear metaphor: "You don't have to run faster than the bear, just faster than your friend"
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1. Introduction to Keffer Auto Group (00:00:00)

2. The Unique Owner-Operator Partnership Model (00:02:40)

3. Decentralized Management Approach (00:07:30)

4. Finding the Right Acquisition Opportunities (00:13:04)

5. EV Challenges and Tariff Concerns (00:17:19)

6. Future Outlook and Personal Philosophy (00:20:05)