George Soros Invests In Dealer Group

Warren Buffet took the industry by storm last year when his organization purchased the Van Tutyl group – now another big name billionaire is making an investment splash into retail automotive.

According to multiple reports, George Soros is investing in retail automotive. Soros Fund Management, the investment firm of Soros invested in McLarty Automotive, a group with a recent string of acquisitions. The amount invested is not currently known. McLarty Automotive was founded in 2014 and is headed by Mark McLarty. McLarty automotive has recently purchased eight more dealerships in the central Missouri area from the Joe Machens dealer group, which will continue to operate under the Joe Machens group branding. Attempts by DrivingSales News to reach out to the McLarty automotive group for further comment were not immediately returned.

News that Soros is investing in retail automotive is a confirmation of a longtime rumor. At least two representatives for Soros Fund Management attended NADA 2015 in San Francisco, with the intent to research an investment into retail automotive up to $1 billion. The unnamed, anonymous representatives went to a private dinner related to the event trying to sell dealers on a Soros Fund partnership. Time will tell how much more Soros will or will not invest into retail automotive.

First Silicon Valley shifted its interest to automotive – next up appears to be Wall Street. What do you think of the investment by the George Soros firm into a dealer group? What will the long-term impact for retail automotive be if more investment titans purchase dealer groups?

UPDATE: We previously listed Franklin McLarty as the head of McLarty automotive. That has been changed to Mark McLarty.