As 2025 closes, AutoNation makes its first Toyota acquisition in over a decade by acquiring Jerry’s Toyota. Dave Cantin, CEO and Chairman of the Dave Cantin Group, joins us on today’s episode of Inside Automotive to break down what this means for dealer succession planning and the future of automotive M&A.
According to Cantin, the acquisition marks a multi-generational succession plan for the seller and exemplifies the importance of careful planning in dealership transitions. Cantin notes that more than 50% of dealerships lack a formal succession plan, leaving many unprepared when opportunities arise. Proper succession planning, he says, ensures a smooth transition while protecting the business legacy and positioning it for the next generation or transitional buyer for success.
“When advising sellers, it’s not just about acquiring or achieving the best price, but achieving the best transaction.”
Cantin also notes that the AutoNation acquisition marks a broader strategic approach. The group, led by Mike Manley, executed the purchase with sophistication and precision, which demonstrates the resources and leadership required to complete complex transactions successfully.
Looking to 2026, Cantin confirmed that the M&A market is set for robust momentum. He attributes December’s record-breaking acquisition activity, which is expected to continue in the new year. Buyers, Cantin adds, are becoming increasingly strategic, evaluating acquisitions with long-term operational insights rather than just historical financials. Similarly, sellers are taking a more proactive approach by implementing succession plans and preparing their business for future growth.
Further, Cantin spoke of the current consolidation trends in the industry, noting that both large public groups and smaller private dealers are actively acquiring dealerships. Notably, mid-sized groups of 10 to 12 stores are expected to increase their acquisition activity over the next 12 to 18 months.
Despite economic uncertainties earlier in the year, such as tariffs, Cantin said dealers have continued to perform strongly and have benefited from resilient operations and strategic partnerships with manufacturers. Dealer, he said, have apopted the challenge and remains focused on profitable growth heading into 2026.
The conversation also veered on the recent developments in the direct-to-consumer segment, such as Scout Motors obtaining a dealer license in Colorado. While Cantin acknowledged the potential for uncertainty, he also emphasized the resilience of U.S. automotive dealers in navigating industry shifts.
“Automotive dealers in this, in the continent of the U.S., especially are some of the most resilient entrepreneurs in the world.”
