Top 10 US Dealer Groups Ranked by Revenue 2026

The American automotive retail landscape has undergone a dramatic consolidation over the past decade. The ten largest publicly traded and privately held dealer groups now control roughly 8-10% of the total U.S. new-vehicle market — and that share keeps growing as public groups acquire smaller private operators at an accelerating pace.

This isn't a fringe trend. The top six publicly traded groups alone generated more than $150 billion in combined revenue in 2024. Lithia & Driveway passed $36 billion. AutoNation, long considered the undisputed leader, now sits third by revenue behind Lithia and Penske. The public groups are using their access to cheap capital, shared back-office infrastructure, and technology leverage to squeeze margins that would make a standalone dealer wince.

If you run a dealership and you're not paying attention to how these groups operate, you're missing the single most important competitive dynamic in the industry. This page profiles the top 10 U.S. dealer groups ranked by 2024-2025 revenue, with notes on their strategies, geographic footprints, and technology adoption.

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The Top 10 US Dealer Groups

Revenue figures are approximate and based on most recent publicly available fiscal data. Private company estimates come from industry reports and published rankings. Some groups may have updated figures since this writing.

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Combined Market Share and Consolidation

The top 10 dealer groups represent roughly 8-10% of the total U.S. new-vehicle retail market. While that number sounds modest, it's the trajectory that matters:

• In 2010, the top 10 groups controlled roughly 3-4% of the market
• By 2020, that share had doubled to roughly 7%
• As of 2025, it sits in the 8-10% range and is accelerating

The publicly traded groups are the primary drivers. They have a structural advantage: public equity gives them capital to acquire private dealerships at prices independent operators can't match, and their public reporting requirements force a level of operational discipline that most family-owned groups don't replicate.

Public vs. private dynamic: The six publicly traded groups (Lithia, Penske, AutoNation, Group 1, Asbury, Sonic) account for the vast majority of this revenue. The private groups (Hendrick, Berkshire Hathaway Automotive, Ken Garff, Larry H. Miller) are formidable operators but don't publish financials, so their exact figures are estimated from industry data.

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Individual Group Profiles

1. Lithia & Driveway (Lithia Motors) — NYSE: LAD

2024 Revenue: ~$36.2B | 2025 Run Rate: ~$37.6B | Dealerships: ~260

Lithia is now the largest automotive retailer in the United States by revenue, a position it earned through an aggressive and well-funded acquisition strategy that saw the company double its dealership count in under five years. The company rebranded its consumer-facing side as Driveway to signal a digital-first approach, though the core Lithia Motors entity remains the publicly traded parent.

Lithia's acquisition machine is fueled by an asset-light financial model that prioritizes high-return, low-debt dealership purchases. The company targets smaller dealership groups that public competitors overlook and integrates them through a centralized platform called Lithia 2.0, which standardizes everything from inventory management to F&I processes.

Full Lithia & Driveway Profile >

2. Penske Automotive Group — NYSE: PAG

2024 Revenue: ~$30.5B | Dealerships: ~355 (including commercial trucks)

Penske Automotive Group is unique among the top 10 because its operations span both automotive retail and commercial truck dealerships (under the Penske Truck Leasing and Penske Commercial Vehicles brands). The automotive dealership segment represents the majority of revenue, with a heavy concentration in premium and luxury brands across the U.S., Canada, and Western Europe.

PAG has the most international footprint of any U.S. public dealer group, with significant operations in the UK and continental Europe. This geographic diversification provides a natural hedge against U.S.-specific economic cycles, though it also introduces currency and regulatory complexity.

Full Penske Automotive Group Profile >

3. AutoNation — NYSE: AN

2024 Revenue: ~$26.8B | Franchises: 300+

AutoNation was the original consolidator. Founded by H. Wayne Huizenga in 1996, the company proved that publicly traded dealership groups could work at scale. For most of its history, AutoNation was the undisputed largest U.S. auto retailer by revenue, a position it held until Lithia's acquisition spree pushed past it in 2024-2025.

AutoNation's strategy today centers on its proprietary AutoNation Express digital retail platform, a homegrown system that lets customers complete much of the buying process online. The company also operates AutoNation USA used-vehicle stores, Precision Parts distribution, and a network of collision repair centers. It's the most vertically integrated of the public groups.

Full AutoNation Profile >

4. Group 1 Automotive — NYSE: GPI

2024 Revenue: ~$22.6B | Dealerships: ~259

Group 1 Automotive operates one of the most geographically diverse portfolios among the public groups, with dealerships in the U.S. and the UK. The company has been a steady, disciplined acquirer — less flashy than Lithia but just as effective at integrating acquisitions.

Group 1 has focused heavily on premium and luxury brands, with a particularly strong presence in BMW/MINI, Mercedes-Benz, and Lexus franchises. The company's UK operations (under the Group 1 Automotive UK Ltd. entity) give it exposure to the British automotive market and serve as a natural currency hedge.

Full Group 1 Automotive Profile >

5. Asbury Automotive Group — NYSE: ABG

2024 Revenue: ~$18.0B | Dealerships: ~180+

Asbury Automotive Group has been one of the most aggressive consolidators in the public group space. The company's 2023 acquisition of the Herb Chambers dealership group — one of the largest private dealer groups in the Northeast — was a transformational deal that added dozens of premium franchises and pushed Asbury past Sonic in the revenue rankings.

Asbury operates primarily in the Sun Belt and Eastern U.S., with concentrations in Texas, Florida, Georgia, and the Carolinas. The company's technology strategy has centered on its Asbury Digital platform and the Clicklane digital retailing tool, which the company acquired and scaled across its network.

Full Asbury Automotive Group Profile >

6. Sonic Automotive — NYSE: SAH

2024 Revenue: ~$14.4B | Dealerships: 100+

Sonic Automotive operates a dual-platform business model: traditional franchised new-vehicle dealerships and the EchoPark used-vehicle chain. EchoPark, launched in 2014, was an early bet on the used-vehicle megastore concept that has since become a significant contributor to revenue.

Sonic's franchised operations lean heavily on luxury and premium import brands, with a particularly strong BMW/MINI portfolio. The company's footprint is concentrated in the Sun Belt — Texas, California, North Carolina, Georgia, Colorado, and Arizona — with about 25% of revenue coming from Texas alone.

Full Sonic Automotive Profile >

7. Hendrick Automotive Group (Private)

Estimated Revenue: ~$12.0B | Dealerships: ~130

Hendrick Automotive Group, based in Charlotte, North Carolina, is the largest privately held dealer group in the United States. Founded by racing legend Rick Hendrick, the group operates dealerships across 16 states, with a particularly strong presence in the Carolinas, Texas, Georgia, and Virginia.

The group is widely respected in the industry for operational excellence and is frequently cited as one of the best-managed dealer groups in the country. Hendrick's brand portfolio includes Honda, Toyota, Chevrolet, Ford, BMW, Mercedes-Benz, and a broad range of luxury and import franchises.

Hendrick does not publish financials. Revenue estimates are based on industry rankings and published reports.

8. Berkshire Hathaway Automotive (Private)

Estimated Revenue: ~$10.0B | Dealerships: ~80

Berkshire Hathaway Automotive was formed when Warren Buffett's Berkshire Hathaway acquired the Van Tuyl Group in 2015 — the largest acquisition of a private dealership group in history at the time. The group operates primarily under the Van Tuyl name in many markets and uses the Berkshire Hathaway brand at the corporate level.

The group operates dealerships concentrated in the Sun Belt and Midwest, with a strong presence in Texas, Arizona, Kansas, Missouri, and Nevada. While Berkshire Hathaway does not break out the automotive division's financials in detail, the group is believed to generate approximately $10 billion in annual revenue.

9. Ken Garff Automotive Group (Private)

Estimated Revenue: ~$8.5B | Dealerships: ~60

Ken Garff Automotive Group is one of the largest family-owned dealer groups in the United States, headquartered in Salt Lake City, Utah. The group operates primarily in the Intermountain West — Utah, Idaho, Nevada, Colorado, Arizona, and California — with a growing national footprint through acquisitions.

Founded in 1932, Ken Garff is one of the oldest continuously operating dealership groups in the country. The group's brand representation includes Honda, Toyota, Ford, Chevrolet, Hyundai, Kia, Chrysler/Jeep/Ram, and a range of luxury and import brands.

10. Larry H. Miller Dealerships (Private)

Estimated Revenue: ~$7.0B | Dealerships: ~60

Larry H. Miller Dealerships, headquartered in the Phoenix suburb of Avondale, Arizona, was founded by the late Larry H. Miller — best known as the owner of the Utah Jazz NBA franchise. The group operates dealerships primarily in Arizona, Utah, Colorado, Idaho, New Mexico, and California.

The group's brand portfolio spans mass-market and luxury segments, including Toyota, Honda, Chevrolet, Ford, Chrysler/Jeep/Ram, BMW, Mercedes-Benz, and Lexus. The Miller family retained control of the automotive group after Larry Miller's passing and has continued to grow through selective acquisitions.

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Consolidation Trends Driving the Top 10

The Great Acquisition Race

The six publicly traded groups are locked in a competition to acquire private dealerships, and the pace is accelerating. In 2024 alone, the public groups collectively acquired hundreds of dealership locations. Lithia has been the most aggressive, but Asbury's purchase of Herb Chambers and Group 1's steady stream of acquisitions show that all the public players are in the game.

Why this matters to your dealership:

• Multiple expansion. As public groups chase acquisitions, the prices paid for private dealerships have risen. Private groups that might have sold for 3-4x EBITDA a decade ago are now commanding 5-8x in competitive bidding situations.
• Succession pressure. Many privately held dealerships were founded in the 1970s and 1980s. The founders are now retiring, and their children often don't want to run the business. The public groups are the natural buyers.
• Scale advantages compound. The public groups use shared technology platforms, centralized purchasing, national marketing, and access to cheaper capital. Each acquisition makes the next one easier.

The Private Group Floor

The four largest private groups — Hendrick, Berkshire Hathaway Automotive, Ken Garff, and Larry H. Miller — have held their positions by being disciplined operators with strong capital positions. They can't match the public groups' cost of capital, but they don't face quarterly earnings pressure either. A private group can take a 20-year view on a market that a public group might exit after two bad quarters.

Technology Adoption as a Competitive Moat

The public groups have invested heavily in proprietary technology:

• AutoNation Express — Complete digital retailing platform
• Lithia 2.0 — Standardized operational platform across all stores
• EchoPark — Sonic's used-vehicle platform designed from scratch
• Clicklane — Asbury's digital retailing acquisition

These platforms give the big groups operational leverage that independent dealers can't replicate without significant investment. A Lithia store in Oregon and a Lithia store in Florida run on the same inventory management system, the same CRM, the same F&I workflow, and the same reporting dashboards. That consistency lets the group identify problems at one store and fix all of them within days.

Where independent dealers still have an edge: Customer relationships, local market knowledge, and manufacturer relationships. The public groups are getting better at local marketing but they still operate at a distance from the communities they serve. A smart independent dealer can compete on service, trust, and community involvement.

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Tech Stack Patterns Across the Top 10

The major dealer groups fall into two camps when it comes to technology:

Builders: AutoNation and Lithia have invested the most in proprietary platforms. AutoNation Express (launched 2014) was one of the first comprehensive digital retailing platforms from a dealership group. Lithia 2.0 is more of an operational integration platform.

Buyers: Group 1, Asbury, and Sonic tend to acquire or license best-in-class third-party tools and integrate them through shared DMS infrastructure. Sonic's EchoPark was a build project, but its core dealership operations run on standard DMS platforms.

Common denominators across all six public groups:

• CDK Drive or Reynolds & Reynolds as the primary DMS
• Salesforce or a custom CRM built on top of DMS data
• A digital retailing tool (proprietary or licensed from providers like Roadster, Gubagoo, or ProMax)
• Centralized inventory management with automated pricing tools
• Enterprise-level analytics and reporting dashboards

The private groups tend to be less homogeneous in their tech stacks. A group like Hendrick, with 130 dealerships, may run different DMS platforms across different stores — a legacy of acquiring dealerships on their existing contracts rather than forcing a uniform platform change.

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What This Means for Independent Dealers

Consolidation in the top 10 is not an abstract Wall Street story. It has direct consequences for every dealership in the country:

Buying a dealership gets more expensive. The public groups are flush with capital and willing to pay premium multiples. If you're looking to expand, you'll be competing with organizations that can borrow at 4-5% and have teams dedicated to acquisition evaluation.

Selling a dealership gets more lucrative. If you're approaching retirement, the market has never been better. Multiple public buyers and several large private groups are actively looking for acquisitions.

Competing gets harder but not impossible. The public groups have genuine cost advantages in technology, purchasing, and back-office operations. But they also have structural disadvantages: higher turnover, less flexibility on pricing, and quarterly earnings pressure that forces short-term thinking. Independents win on customer relationships, service quality, and the ability to make local decisions without corporate approval.

Partnership opportunities still exist. Several private groups and some public groups are willing to partner with strong independent operators through minority investments, joint ventures, or management agreements. These structures let the independent retain operational control while accessing the public group's capital and technology.

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Methodology and Data Sources

Revenue figures for the six publicly traded groups are sourced from their most recent SEC filings (10-K annual reports) and quarterly earnings releases. Private group estimates are based on:

• Automotive News' annual ranking of the top 150 dealership groups
• NADA (National Automobile Dealers Association) data on dealership operations
• Published acquisition announcements and industry reports
• State dealer association publications

All figures are approximate and may have changed since publication. The State of Automotive does not independently audit private company financials.

This page was published in May 2026. Revenue rankings and group structures may have changed. See individual group profiles for the most current data.