Asbury sells Texas Acura dealership to Umansky Automotive

Umansky Automotive Group, fresh off of exiting Virginia last month, entered Texas with the purchase of a luxury dealership from auto retail giant Asbury Automotive Group Inc.

Umansky Automotive, of Memphis, Tenn., on Monday bought David McDavid Acura of Austin, owner Dan Umansky confirmed to Automotive News.

The dealership was renamed Acura of Austin North.

"It's arguably the best market in the country right now," Umansky said. "It's really fast growing. We love Austin. We are targeting more acquisitions in Texas."

It marks the fourth Acura dealership for the group, Umansky said. He confirmed the Austin store purchase was his group's first acquisition since it bought two Tennessee dealerships in May 2022.

Umansky Automotive in April sold five stores in Charlottesville, Va., to Flow Automotive Cos. Umansky Automotive also has stores in California, Mississippi and Wisconsin.

Asbury CEO David Hult, in a statement, said the auto retailer decided to exit a noncore market and Presidio Group, an investment banking and dealership advisory company in Denver and Atlanta, found the group a buyer.

In December, Asbury sold nine North Carolina dealerships to Hudson Automotive Group.

Asbury, of Duluth, Ga., ranks No. 5 on Automotive News' list of the top 150 dealership groups based in the U.S., retailing 151,179 new vehicles in 2022.