Capital Automotive Group has acquired six dealerships and a collision center from retiring dealer Larry Cloninger, with the transaction fully closing on September 29, 2026. The deal includes five dealerships in North Carolina and one in South Carolina, with all six stores adopting Capital branding. The Salisbury, North Carolina, acquisition also includes Cloninger Collision Center, which will operate as Carolina’s Collision Center of Salisbury. The sale marks Cloninger’s exit from dealership ownership, while Capital Automotive, which now operates 50 stores, plans to continue expanding.
Deal Details:
Seller: Larry Cloninger
Buyer: Capital Automotive Group
Transaction Date: September 29, 2026
Acquired/Rebranded Dealership(s):
- Toyota of Florence → Capital Toyota of Florence
- Cloninger Toyota → Capital Toyota of Salisbury
- Cloninger Ford → Capital Ford of Salisbury
- Cloninger Honda → Capital Honda of Salisbury
- Cloninger Ford of Morganton → Capital Ford of Morganton
- Cloninger Ford of Hickory → Capital Ford of Hickory
- Cloninger Collision Center → Carolina’s Collision Center of Salisbury
Advisor/Facilitator: Not disclosed
