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Charlottesville-based Jim Price Auto Group has sold its Chevrolet dealership — its final franchise — to Malloy Auto Group.
Financial terms of the transaction were not disclosed.
Price Chevrolet is located on more than 10 acres on Seminole Trail in Charlottesville, according to a Tuesday news release from auto dealer sell-side adviser Kerrigan Advisors, which represented Jim Price Auto Group in the sale. Malloy Auto Group has Chevrolet, Cadillac, Ford and Toyota dealerships in Winchester and Ford dealerships in Charlottesville and Alexandria.
Jim Price Auto Group sold its two other dealerships last year. In July 2023, Winston-Salem, North Carolina-based Flow Automotive acquired its Price Kia dealership. Flow Automotive then bought Jim Price Hyundai in November 2023. Kerrigan Advisors declined to comment on why Jim Price Auto Group divested its holdings.
Henry James “Jim” Price opened Price Chevrolet in 1968. In 2017, his daughter, Sandra Price Amato, became the dealer principal for Jim Price Auto.
“This sale of our Chevrolet dealership, the final of our three auto group franchises to sell, represents the end of an era — as well as a new beginning for the dealership and for our family,” Amato said in a statement. “For the sale of this, our flagship dealership, [Kerrigan Advisors] found in Malloy a buyer well-suited to the needs of the franchise and the community.”
The deal was Kerrigan Advisors’ 23rd franchise sale in Virginia since 2020. The company also represented Vienna-based Jim Koons Automotive, which owned and operated 20 dealerships in the mid-Atlantic, in its sale to Georgia-based Asbury Automotive Group for $1.2 billion, completed in December 2023.