Performance Brokerage Services Represents Lithia & Driveway (LAD) on the Sale of Carson Nissan in California

Rhea-AI Summary

Lithia & Driveway (LAD) has sold Carson Nissan in Carson, California to David Massoudi of Mass Auto Group, with Performance Brokerage Services acting as the exclusive sell-side advisor. This marks Performance Brokerage Services' second transaction with Mass Auto Group in 2024 and their second dealership sale for LAD this year. The dealership will maintain its location at 1505 East 223rd Street in Carson.

Mass Auto Group currently operates six dealerships across Southern California, representing Nissan, Chrysler, Dodge, Jeep, and RAM brands. This transaction represents Performance Brokerage Services' 30th successful deal with LAD, highlighting their strong business relationship.

Positive

• Strategic divestment of non-core asset through successful sale of Carson Nissan dealership
• Demonstrates LAD's ability to execute on portfolio optimization

Negative

• Reduction in LAD's dealership network footprint in California

News Market Reaction

+0.29%

1 alert

+0.29% News Effect

On the day this news was published, LAD gained 0.29%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of Carson Nissan in California from Lithia & Driveway (LAD) to David Massoudi of Mass Auto Group.

IRVINE, Calif., Dec. 6, 2024 /PRNewswire/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is proud to represent Lithia & Driveway (NYSE: LAD) on the sale of Carson Nissan in Carson, California to David Massoudi of Mass Auto Group.

Lithia & Driveway started from humble beginnings when Walt DeBoer founded a Chrysler-Plymouth-Dodge dealership in Ashland, Oregon in 1946. Walt's son, Sid DeBoer, transformed the dealership group into Lithia Motors, Inc., a publicly traded company in 1996. Now a third-generation company, Lithia & Driveway is run by Sid's son, Bryan DeBoer, CEO & President, and ranked #1 on the 2024 Automotive News Top 150 Dealership Groups based on 2023 new vehicle retail sales units.

Director of Network Development for Lithia & Driveway, Matt Whitmer commented, "When we decided to divest our Carson Nissan dealership, Jason Stopnitzky at Performance Brokerage Services helped us quickly identify a qualified buyer. Jason genuinely cares about his clients, which was apparent through the support he provided. Jason is an excellent communicator and kept everyone informed and engaged throughout the process. We look forward to working with Jason and the entire team at Performance Brokerage Services again in the future."

Mass Auto Group operates six dealerships across Southern California, representing Nissan, Chrysler, Dodge, Jeep, and RAM. David Massoudi, President of Mass Auto Group shared, "Honesty, knowledge, and integrity are very important attributes one must have in any business. I have worked with Jason Stopnitzky on several deals, and it has truly been a pleasure working with him on every level. He anticipates every element of a deal and addresses them in advance in an incredibly honest and seamless way. I will continue to work with him on my future deals. It's been a great experience working with Performance Brokerage Services and I would recommend this company regardless of whether you are on the buyer or seller side."

Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. Jason Stopnitzky, Co-Founder of Performance Brokerage Services was the exclusive sell-side advisor for this transaction.

Jason Stopnitzky commented, "This marks our second transaction with David Massoudi and Mass Auto Group in 2024, as well as our second dealership sale for Lithia & Driveway this year. It has been a privilege to work alongside such dynamic teams, and this deal further strengthens our longstanding relationships with both Lithia and Mass Auto Group. With more than 30 successful transactions completed with Lithia over the years, we remain committed to delivering exceptional value and strategic opportunities for our clients."

Carson Nissan will remain at its current location at 1505 East 223rd Street in Carson, California.

About Performance Brokerage Services

Performance Brokerage Services, Inc. is North America's highest volume dealership brokerage firm, specializing in buy-sell activity for automotive, RV, commercial truck, powersports, and equipment dealerships.

With over 30 years of experience, 900 dealerships sold, and a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct and integrity.

The company offers a unique approach by providing complimentary estimates of value with no upfront fees or retainer, no reimbursement of costs, and paid a success fee only after the transaction closes.

Headquartered in Irvine, California, and supported by 9 regional offices in Utah, Texas, Illinois, Florida, Virginia, Ohio, New Jersey, Alberta and Ontario, clients benefit from national exposure with local representation.

As trusted and respected experts in the field, the company utilizes an extensive network of industry related attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various vehicle manufacturers.

For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com. 

Media Contact: 
Jesse Stopnitzky, Co-Owner
(949) 309-2851
jesse@performancebrokerageservices.com

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SOURCE Performance Brokerage Services, Inc.

FAQ

What dealership did Lithia & Driveway (LAD) sell in California?

Lithia & Driveway (LAD) sold Carson Nissan dealership located in Carson, California.

Who purchased Carson Nissan from Lithia & Driveway (LAD)?

David Massoudi of Mass Auto Group purchased Carson Nissan from Lithia & Driveway (LAD).

Will Carson Nissan change its location after the LAD sale?

No, Carson Nissan will remain at its current location at 1505 East 223rd Street in Carson, California.

How many transactions has Performance Brokerage Services completed with LAD?

Performance Brokerage Services has completed over 30 successful transactions with Lithia & Driveway (LAD) over the years.