Pub. 65 | 2024-25 | Issue 3 OFFICIAL PUBLICATION OF THE TEXAS AUTOMOBILE DEALERS ASSOCIATION TADA LEGEND JOHN EAGLE
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Contents ©2025 Texas Automobile Dealers Association (TADA) | The newsLINK Group LLC. All rights reserved. Dealers’ Choice is published four times per year by The newsLINK Group LLC for TADA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of TADA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Dealers’ Choice is a collective work, and as such, some articles are submitted by authors who are independent of TADA. While a first-print policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. Scan this code with your smart phone for a direct link to the TADA website. 13 Dealers’ Choice 35 6 PRESIDENT’S MESSAGE 89th Legislative Session Wrap-Up BY DARREN WHITEHURST, PRESIDENT, TADA 10 Key Director Award Recipient Mark Stevenson 11 Texas Dealer Day at the Capitol 12 SAVE THE DATES 2025 TADA Leadership Network June 8-10 and Nov. 9-11 13 TADA Annual Conference and Board Meeting Four Seasons Hotel, Austin, Texas April 13-14, 2025 16 Legacy, Liquidity or Something in Between How to Navigate the Next Chapter BY JAMIE FARLEY, PARTNER, PERFORMANCE BROKERAGE SERVICES 20 2025 TADA Leadership 24 Are “Main Street” Businesses in Local Economies Dead? The Role of Franchised Auto Dealerships 27 Congratulations, Bill Denton! Northwood Dealer Education Award Recipient 28 TADA Legend John Eagle 30 Community News 35 Celebrating 100 Years of Legacy, Family and Community at Jupiter Chevrolet 36 The Texas Automotive M&A Market Trends, Challenges and Opportunities BY DSMA 39 Texas Labor Market Review DEALERS’ CHOICE 4
As the 89th Texas Legislature wraps up, I want to take a moment to recognize the leadership, engagement and grit you continue to bring to the table. Thanks to your involvement — and the strength of our collective voice — TADA remained front and center this session, advocating for policies that protect and strengthen our industry and we served as a resource to the Legislature and their staff on critical policy issues. Key Wins at the Capitol Gov. Abbott and legislative leadership achieved their top priorities this session, including property tax relief, teacher pay raises, school choice expansion, bail reform, water infrastructure investment, workforce training and a new cybersecurity hub. These big-picture wins created a backdrop for steady legislative momentum — and TADA was right in the middle of it. A Smart Fix on Permanent License Plates One of our top priorities — amending last session’s hard plate law — crossed the finish line. The updated law ensures that license plates follow the person, not the vehicle. It’s a common-sense reform that simplifies processes for everyone involved — customers, dealers and law enforcement — while preserving the public safety goals intended in the original legislation. The bill is now headed to the Governor’s desk, and implementation is expected to begin in July. We’ve prepared training webinars and resources to help your teams get up to speed — we encourage all dealer groups to participate. Warranty and Recall Reimbursement: Our Work Continues Another major push this session involved holding manufacturers accountable for fair reimbursement on warranty and recall work. Although Texas law already requires equal pay for warranty and non-warranty repairs, many OEMs continue to underpay or sidestep compliance altogether. Our proposed legislative fix ran into roadblocks in the Senate Business & Commerce Committee, where manufacturer-backed amendments would have created more problems than solutions. We stood firm — and while our bill didn’t pass, our fight isn’t over. Over the interim, we’ll be rolling out a strategic plan to engage lawmakers in their districts and ensure this issue is front and center heading into next session. It is critical for us to make clear the consumer protection issues at the heart of this discussion. Battling Bad Bills — and Advancing Good Ones With nearly 9,000 bills filed this session, our team stayed busy sifting through dozens of proposals affecting dealers — many of them threatening the franchise model. Fortunately, thanks to great collaboration with legislators and local dealers and our TADA team, we helped stop the worst of them and advanced several measures that will benefit both our industry and our customers. continued on pg. 8 PRESIDENT’S MESSAGE 89th Legislative Session Wrap-Up By Darren Whitehurst, President, TADA DEALERS’ CHOICE 6
Jim Stephenson, VLK Principal, Automotive Practice Leader jstephenson@vlkarchitects.com | 817.633.9620 CREATING EXEMPLARY DEALERSHIP DESIGNS FOR OVER 40 YEARS.
continued from pg. 6 A couple of major tort reform bills — especially those aimed at reining in runaway verdicts in commercial truck cases — fell short, but we’re not done. We’ll continue to build support through the interim and come back stronger next session. The Power of Dealer Relationships We say it every session, and it’s always true: Good policy is built on strong relationships. This year, we launched Regional Dealer Days at the Capitol — bringing in dealer groups from across Texas to meet with their lawmakers face to face. The turnout was outstanding, and the impact was even greater. If you got a call from our team asking you to reach out to your legislator and you picked up the phone, thank you. Your voice matters. Legislators know their local dealers. They trust you. And it’s your stories, your employees and your commitment to your communities and customers that make the difference. Federal Updates On the national front, we saw a major win as President Trump signed legislation overturning California’s ability to set its own vehicle emissions rules. This move protects national uniformity and preserves choice for Texas consumers and dealers alike. We’re keeping a close eye on federal issues — from emissions and tariffs to supply chain strain — and we’ll continue fighting back against policies that hurt your business and limit customer access to vehicles that fit their needs. Looking Ahead There’s no question: Texas franchised dealers are leading the way — in policy, in innovation and in service to your communities. TADA is proud to stand with you in Austin, in Washington and everywhere decisions are being made that affect your business. As new laws take effect and the dust settles from session, we’ll keep you updated with resources and training to stay compliant and competitive. Lastly, I would like to take a moment to recognize the TADA team and our Metro Association partners who work long hours to protect your business interests and Texas consumers. Kate, Karen, Rob and everyone within the TADA family once again did outstanding work. Thanks for all you do — and for keeping Texas moving forward. DEALERS’ CHOICE 8
This communication has been prepared solely for informational purposes as of its stated date. It is not a solicitation, recommendation or offer to buy or sell any security and does not provide information on which an investment decision to purchase or sell any securities could be based. It does not purport to be a complete description of the securities, markets or developments referred to in this communication. Additional information is available upon request.“Stephens” (the company brand name) is a leading family-owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, Stephens Capital Partners LLC and Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024), which is authorised and regulated by the Financial Conduct Authority. © 2025 Stephens. NOTABLE DEALERSHIP INVESTMENT BANKING TRANSACTIONS IN TEXAS: HAS BEEN ACQUIRED BY HAS BEEN ACQUIRED BY HAS BEEN ACQUIRED BY HAS BEEN ACQUIRED BY HAS BEEN ACQUIRED BY STEPHENS INC. • MEMBER NYSE, SIPC Performance. It’s what drives us. A leading investment bank for dealerships in Texas. Learn more about working with us at: stephens.com/dealerships
Key Director Award Recipient Mark Stevenson Each year at our annual conference we honor a member of the TADA Board of Directors who has contributed to the success of the organization. The award given is the Walter B. Wainwright Key Director Award, named for the revered former leader of the Houston Automobile Dealers Association. This is the only TADA award that is kept a secret until the moment it is presented at the conference. We are honored that this year’s recipient is our TADA Board Member and current Legislative Chairman Mark Stevenson, vice president and general manager of ValMark Chevrolet in New Braunfels, Texas. We applaud Mark for his incredible leadership and guidance as our key director and legislative chair. DEALERS’ CHOICE 10
Texas Dealer Day at the Capitol Texas dealers came from all over the state to visit their senators and representatives at the State Capitol on March 25, 2025. 11 DEALERS’ CHOICE
SAVE THE DATES 2025 TADA Leadership Network June 8-10 and Nov. 9-11 June 8-10, 2025 Hotel Emma, San Antonio 136 E. Grayson St. San Antonio, TX 78215 Nov. 9-11, 2025 Albert Hotel 213 E. Austin St. Fredericksburg, TX 78624 Connect with dealers of all ages and explore every corner of the automotive business through education and operational training. Network, learn, share information and work together. Build a community to help you grow. Learn more about Texas Leadership Network by scanning the QR code. www.youtube.com/watch?v=Xj-eWZ1ZQ9Q June 8-10 Nov. 9-11 DEALERS’ CHOICE 12
TADA Annual Conference and Board Meeting Four Seasons Hotel Austin, Texas April 13-14, 2025 DEALERS’ CHOICE 13
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Legacy, Liquidity or Something in Between How to Navigate the Next Chapter By Jamie Farley, Partner, Performance Brokerage Services For many dealers, the question of what to do with the store doesn’t start with a spreadsheet. It starts around the dinner table — or maybe in the quiet moments when things finally slow down. After decades of building a business, employing people in your community and putting your name on the sign out front, the decision about what’s next is personal. And when family is involved, it’s rarely simple. Some dealers have always imagined passing the business to the next generation. Others have watched their kids build successful lives in different fields and quietly wonder if a handoff is still the right move. And often, there’s a mix of feelings — pride, uncertainty, loyalty, fear of regret. That’s normal. The emotional weight of a family business is real, and the process of transitioning it — whether within the family or outside of it — deserves careful, honest consideration. What we frequently see is hesitation to start the conversation. No one wants to create tension. Parents worry about upsetting their children. Children don’t want to seem disinterested — or entitled. But silence tends to create more confusion, not less. In families where the transition is successful, the common thread is usually clarity: an open dialogue about roles, expectations and timing well before the handoff begins. What many don’t realize is that there’s no longer just a fork in the road — sell it or hand it down. Today, there’s a broader landscape of options. Some families structure phased ownership transfers over time, others pursue internal buyouts with financial guidance. And more recently, new models have emerged that provide liquidity for the current generation while allowing family members to retain operational control and long-term equity. These approaches offer flexibility and customization that weren’t available — or widely known — even a few years ago. In other words, keeping the business in the family no longer has to mean taking on the full burden alone. There are creative, values-aligned ways to protect legacy, preserve harmony and plan for growth across generations. Still, it’s not just about structure. One of the most overlooked parts of the transition is emotional readiness — on both sides. Is the next generation ready to lead, not just manage? Is the outgoing generation truly ready to step back? And is everyone aligned on the vision for the future? These questions don’t have easy answers, but avoiding them doesn’t make them go away. The good news is that starting the conversation doesn’t commit you to any one path. It just opens the door to explore your options — with your family, your advisors and on your own terms. As buy-sell advisors, we’re often invited into these moments of uncertainty — before a decision has been made, when the road ahead is unclear. And it’s in these early conversations that the real value of planning emerges. Our role is not to push a transaction but to help dealers weigh their options, understand what’s possible and make thoughtful decisions that honor both the legacy they’ve built and the future they envision. These decisions don’t come with a playbook. But they do come with the opportunity to pause, reflect and shape the future with intention. Whether your path leads to a family transition, a sale to a third party or something in between, the most important move is starting the conversation — while you still have time to shape the outcome on your terms. After all, legacy isn’t just what you leave behind. It’s how you choose to move forward. Learn how our experienced team can help you navigate your next move with confidence by contacting Eric Scott at (210) 889-8770 or eric@performancebrokerageservices.com or Jamie Farley at (773) 558-7703 or jamie@performancebrokerageserivces.com. DEALERS’ CHOICE 16
CALIFORNIA • UTAH • TEXAS • ILLINOIS • OHIO • FLORIDA VIRGINIA • NEW JERSEY • ALBERTA • ONTARIO BROKERAGE SERVICES 949. 461. 1372 • PERFORMANCEBROKERAGESERVICES.COM Texas & Mid-South Office Paul Kechnie, Senior Partner 512. 839. 5250 | paul@performancebrokerageservices.com Eric Scott, Partner 210. 889. 8770 | eric@performancebrokerageservices.com 2802 Flintrock Trace, Suite 272, Austin, Texas 78738 JAMIE FARLEY PAUL KECHNIE ERIC SCOTT Eric Scott has 30+ years of retail automotive experience, including 20 years in executive roles for public and private companies. Paul Kechnie brings 40+ years of auto experience, including a decade as the Texas-Midwest partner at PBS with over 225 successful buy-sell transactions, a Chevrolet Oldsmobile and Ford dealership owner, and a national 20 Group moderator. Connect With Our Texas Advisors Eric Scott Paul Kechnie For a confidential consultation & complimentary evaluation on your business, please contact us: OUR TEXAS & MID-SOUTH OFFICE TEAM As a family-owned company, we ensure every client gets the proper attention he or she deserves. We work hard to accomplish the goals of our clients. We only charge a success fee with no upfront fees nor retainers. We are paid after you are paid. Straight-forward & flexible agreements with no fine print. Regular updates on activity flow and market feedback. Loyal, dedicated, and unwavering representation. We do not hoard listings to build an inventory. Hundreds of extremely satisfied clients. Vigilant protection of confidentiality. We pledge to do it right, every time, one client at a time. BROKERAGE SERVICES EXPERIENCE THE DIFFERENCE! Helping Dealers Buy & Sell Dealerships LISTEN NOW YOUR NEW GO-TO PODCAST
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Ryan Kirkpatrick Vice Chair District Directors 19 Carlos Liriano 21 Pat Schuchart 24 Joseph Shields 26 Jeff Kahlig SOUTHWEST Roger Elswick Vice Chair District Directors 5 Jason Feldman 6 Kyle Janke 15 Mark Haas 33 Tony Gullo Jr. SOUTHEAST Evelyn Sames Vice Chair District Directors 17 Melissa DeMontrond 18 Chris Wall 20 Jennifer Yoder 27 Natasha del Barrio SOUTH 2025 Executive Committee Tim Crenwelge CHAIR Bryan Case Sr. IMMEDIATE PAST CHAIR John Luciano Vice Chair District Directors 28 Dylan Otts 30 Patrick Sykora 31 Cory Dupriest NORTHWEST Stephen Gilchrist Vice Chair District Directors 10 Tony Pack 22 Will Churchill 23 Jose Pozos 34 Sherri Herring NORTH Jeff Rachor Vice Chair District Directors 1 James Bennie 8 Scott Fly 9 Finley Ewing IV 35 John Lukehart NORTHEAST Fernando Varela Vice Chair District Directors 2 Tim Capps 3 Joe Loving 4 Robert Turner 7 Ashley Willson EAST Shae Woodard Hall Vice Chair District Directors 16 Kenny McCarty 25 Jimmy Bass 29 Bill Pollard Jr. 32 Drew Hoy WEST Paula Lohse Vice Chair District Directors 11 Julie Herrera 12 Mike Zorn 13 Mary Karr-Ellis 14 Scott Stark CENTRAL 2025 TADA Leadership Greg Bruner CHAIR-ELECT DEALERS’ CHOICE 20
DIRECTORS AT-LARGE CAR DEALERS • C.J. Barnett • Benny Boyd • Bently Durant • T. Harper • Mark Stevenson • Brandon Tomes TRUCK DEALERS • James Bennie Brian Bruckner TEXAS TRUCK DEALER CHAIRMAN Karen Phillips TADA GENERAL COUNSEL AND EXECUTIVE VICE PRESIDENT Darren Whitehurst TADA PRESIDENT METRO CHAIRS • James Bagan • Shawn Barry • Jason Gonzalez • Don Herring Jr. • Brent McGavock • Rick Wallace • Steven Wolf 32 29 16 25 31 30 28 34 23 22 10 35 9 8 1 2 7 3 4 17 18 20 27 5 33 6 24 21 26 19 12 13 11 14 15 21 DEALERS’ CHOICE
Robert TURNER C.J. BARNETT Jason FELDMAN Kyle JANKE Ashley WILLSON Tim CAPPS Joe LOVING East, Dist. 4 East, Dist. 3 East, Dist. 2 Northeast, Dist. 1 Southeast, Dist. 5 Southeast, Dist. 6 East, Dist. 7 Scott FLY Mike ZORN Mary KARR-ELLIS Scott STARK Finley EWING, IV Tony PACK Julie HERRERA North, Dist. 10 Central, Dist. 11 Northeast, Dist. 9 Northeast, Dist. 8 Central, Dist. 12 Central, Dist. 13 Central, Dist. 14 Will CHURCHILL Jeff KAHLIG Natasha DEL BARRIO Dylan OTTS Jose POZOS Joseph SHIELDS Jimmy BASS Southwest, Dist. 24 West, Dist. 25 North, Dist. 23 North, Dist. 22 Southwest, Dist. 26 South, Dist. 27 Northwest, Dist. 28 Bill POLLARD, JR. Tony GULLO JR. Sherri HERRING John LUKEHART Patrick SYKORA Cory DUPRIEST Drew HOY Northwest, Dist. 31 West, Dist. 32 Northwest, Dist. 30 West, Dist. 29 Southeast, Dist. 33 North, Dist. 34 Northeast, Dist. 35 Rick WALLACE James BENNIE Shawn BARRY T. HARPER Brent MCGAVOCK Mark STEVENSON Steven WOLF Bently DURANT Don HERRING JR. Brandon TOMES James BAGAN Jason GONZALEZ Benny BOYD Metro Chair Director-At-Large Metro Chair Director-At-Large Metro Chair Metro Chair Director-At-Large Metro Chair Director-At-Large Metro Chair Director-At-Large Metro Chair Director-At-Large Melissa DEMONTROND Kenny McCARTY Carlos LIRIANO Jennifer YODER Pat SCHUCHART Chris WALL South, Dist. 17 South, Dist. 18 West, Dist. 16 Southwest, Dist. 19 South, Dist. 20 Southwest, Dist. 21 2025 District Directors Mark HAAS Southeast, Dist. 15 DEALERS’ CHOICE 22
Are “Main Street” Businesses in Local Economies Dead? The U.S. Chamber of Commerce reports that small businesses account for 99.9% of all U.S. businesses and employ 46% of the private sector workforce. According to the SBA’s “small business” definition, the majority of local franchised auto dealerships are part of the 33.2 million small businesses that form the foundation of our nation’s economy. At the heart of many communities are “main street” businesses. They are often locally owned brick-and-mortar stores that offer essential goods and services. These “main street” businesses serve as a hub for social interaction while fostering a sense of place and hometown pride. Franchised auto dealerships are the last true “main street” businesses. With deep community ties, many of these businesses are family-owned and have been passed down from generation to generation. When it comes to local franchised auto dealerships, an estimated 85% of the 16,000+ are family-owned and some even have a fourth generation getting ready to take over the reins. These dealerships are known for their accessibility, a place where customers can often interact personally with the owner, thus fostering strong community relationships. Additionally, dealers are inherently ingrained and deeply invested in their communities, giving back as much, if not more, than they bring in. Across the board, dealers directly invest in their neighborhoods through car donations, Little League sponsorships, volunteer hours and so much more. And this is just the start of what dealerships bring to the local table. Employees of dealerships are often involved in chambers of commerce and other local business associations, playing a direct role in keeping the local business community vibrant and healthy. This level of community commitment is not easily replicated. It’s not hard to see how franchised dealerships have become an integral piece of the local economy and we haven’t even mentioned economic activity. According to NADA, in 2024, Texas dealerships employed 235,000 people, that’s 84 employees per dealership on average with a whopping $9.4 billion in payroll. What’s more, those employed in the automotive industry don’t have just another low-paying job. Whether it be in retail or as a service technician, the automotive industry offers one of the few work opportunities where those who don’t see a four-year college degree as an option, can find a path to the middle class and higher. All that is needed is a healthy dose of work ethic, a willingness to learn and on-the-job experience. The Role of Franchised Auto Dealerships continued on pg. 26 DEALERS’ CHOICE 24
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The benefits of these jobs to the community are immediate because employees and customers are the community. The profits feed right back into the local area. Really, the only people the franchise model isn’t good for are Wall Street billionaires. Yet another staggering number is the $125 billion in total sales that Texas’s franchised auto dealers made in 2024. That equates to nearly $2 million in state and federal income taxes and $7.8 billion in state sales tax. Those are impressive numbers, and though there are certainly outliers, most franchised dealerships fit into the “main street” business mold. They are not what one would classify as a mom-and-pop shop nor are they considered a billionaire class. Simply put, they are affluent “main street” community businesses. While not immune to consolidation by larger corporations, for the most part, dealerships remain a fundamentally local small business that lives and dies by their community, selling person to person to their neighbors. The recent efforts of new tech manufacturers to disrupt the franchised dealership system — which has thrived for over 100 years — have not succeeded. What leaders from new tech companies fail to realize is how expensive it is to get a storefront, customize and brand it, fill it with inventory, hire staff and train them on the intricacies of the car make and model so the customer relationship can be built, nurtured and live well beyond the initial purchase of the vehicle. This carefully developed relationship happens over time and includes regular oil changes, service and repair, warranty work, and if all goes to plan, selling the customer their next new car when the time is right. Over the last decade, we’ve heard a lot of talking points about the usefulness of physical dealership stores. The talking heads spoke from one extreme to another, especially with Tesla and their internet model of selling cars. In statehouses across the nation, bills were filed, hearings were held, and legislation was passed in an effort to protect the franchised system. As the dust settles, the evidence is clear, the integration of a physical store with an online shopping option is the optimal retail model. Not because we said so, it’s because car buyers prefer a combination of physical and digital channels, and their money does the talking. The “bricks and clicks” model of selling cars is here to stay. While younger generations may prefer a digitally enhanced car buying experience, they still value physical touchpoints, choosing to gather information and make decisions based on a combination of online and physical channels. At the same time, older generations prefer an in-store car-buying experience but are increasingly engaging in online shopping options. The benefits of the franchised dealer model are the wide distribution network, personalized customer service, the ability to manage inventory and financing while providing a physical space for test drives and the final purchase experience. It also supports the car sales process and provides a deeply human interaction, one that can be facilitated, but not replaced, by technology, making the franchised auto dealership the epitome of “main street.” Helping Your Employees Stay Safe Behind The Wheel Every Choice Matters – Choose Federated® DriveSAFESM Federated DriveSAFESM Telematics can help your employees improve their daily driving habits. This combination of mobile app, in-vehicle tag, and online portal allows you to measure, rank, and provide feedback on employee driving behaviors so you can help them become safer drivers. Federated Mutual Insurance Company and its subsidiaries* | federatedinsurance.com 25.08 Ed.3/25 *Not licensed in all states. © 2025 Federated Mutual Insurance Company Commercial Insurance Property & Casualty | Life & Disability Income | Workers Compensation | Business Succession and Estate Planning | Bonding Scan to learn more about Federated DriveSAFESM Telematics and how you can help your employee drivers stay safe behind the wheel. The content of this publication is for general information purposes only and should not be considered legal advice or an offer of insurance. Coverage will be determined solely by the terms of your policy, if approved for issue. Consult with a qualified professional to discuss questions specific to your circumstances. ® continued from pg. 24 DEALERS’ CHOICE 26
Are you being ignored? Exhausted from obnoxious hold times and endless excuses? Tired of your administrator costing you customers? So were we. SEE FOR YOURSELF: 800-332-7029 SUPPORTING DEALERS, FINANCIAL INSTITUTIONS, AND AGENTS NATIONWIDE FIRST GROUP FAMILY OF COMPANIES…WHERE YOU MATTER. Congratulations, Bill Denton! Northwood Dealer Education Award Recipient Congratulations to Bill Denton, President and COO of Allen Samuels Auto Group, who has been honored with the prestigious Northwood Dealer Education Award. The Northwood Dealer Education Award was developed by Northwood University to recognize automobile dealers across the United States for their dedication and contributions to the advancement of education, both inside and out of the automotive industry. Since 1972, Northwood has recognized franchise owners and dealer principals in the automotive marketing field who have made noteworthy, individual contributions to public or private education. 27 DEALERS’ CHOICE
TADA Legend John EAGLE DEALERS’ CHOICE 28
John Eagle was the 23rd TADA member to be inducted into the TADA Hall of Legends. He was honored on April 13 at the TADA Annual Conference held at the Four Seasons in Austin, Texas. Only a handful of dealers out of the thousands who have served Texas over the past 100+ years have been selected as a TADA Legend award recipient. The award goes to the best of the best in the industry, and John Eagles’ contribution to both the industry and to his community have certainly earned him this honor. In 1962, John’s dad, Bob Eagle, and Bob’s brother John (John’s namesake) moved from Kansas to Texas and bought the bankrupt Lincoln Mercury dealership in Dallas. They grew it from a dealership that was selling eight cars a month into the No. 1 Lincoln Mercury dealership in the country. John’s first job at age eight was at his dad’s dealership in Dallas, washing cars. He went on to learn every job in the dealership. When his dad retired in 1980, John took over the company. Upon John’s retirement in 2020, the Eagle brand had multiple dealerships in Dallas, Houston and Austin representing Honda, Toyota, Infiniti and Acura franchises. The most rewarding part of John’s career has been helping someone work their way up to becoming a dealer. Over the years, he found many young people who had a love and an aptitude for the business and put them in business. He had a partner in every store, and many of those individuals showed up to honor John at the TADA annual conference. John and his wife, Jennifer Eagle, have been philanthropists throughout the years through their work for community institutions, including the Dallas Museum of Art, Episcopal School of Dallas and Children’s Medical Foundation. Congratulations to our newest Legend, John Eagle. 29 DEALERS’ CHOICE
Community News Share your community news with us to be featured in the next issue! Email Janet Hale at jhale@tada.org. GABRIEL/JORDAN BUICK GMC MAKING AN IMPACT We’re incredibly proud to announce that Gabriel/Jordan Buick GMC has been voted Top New Vehicle Dealer in the Kilgore News Herald Reader’s Choice Awards! The team at Gabriel/Jordan Buick GMC singular purpose is to provide unmatched value, excellent service and great experiences that make a difference. This award reminds them that staying true to their mission makes a lasting impact. They live by values that drive everything they do: • People First — Because our customers and team are family. • Honesty — You’ll always get our best, without the spin. • Professionalism — From the showroom to service, we hold ourselves to the highest standards. • Passionate Pursuit — We’re not satisfied with “good enough.” • Brilliant at the Basics — We never lose sight of what makes the difference every day. “To all who voted — thank you for your trust, your business and your belief in us. We don’t take it lightly, and we’ll keep working hard to earn your confidence every mile of the way. Here’s to driving forward — together.” In line with the excellence for which they were recognized, Gabriel/Jordan GMC Ford recently sponsored the New Diana Athletic Booster Club with Coach Tyler Zapata, Coach Tim Vandegriff and Coach Jacob Evans. The work they do with the youth in their community makes it easy for Gabriel/Jordan Buick GMC and the East Texas Premiere Buick GMC Dealers to be part of what they do! BRANDON AND STEPHANIE TOMES ACCEPT SPIRIT OF VOLUNTEERISM AWARD IN HONOR OF FATHER Brandon and Stephanie Tomes, of Brandon Tomes Subaru and Brandon Tomes Volkswagen, accepted the Spirit of Volunteerism Award in honor of Brandon’s father, Bob, of Bob Tomes Ford. “Here’s to you, Dad! We are honored to accept the Pete and Nancy Huff Spirit of Volunteerism Award on behalf of my dad, Bob Tomes,” stated Brandon. DEALERS’ CHOICE 30
PENSKE AUTOMOTIVE GROUP’S DONATION FOR INJURED VETERANS Paralyzed Veterans of America announced it received a donation of $1.13 million from long-time partner Penske Automotive Group. The amount includes donations from customers, partners and employees of Penske Automotive Group, as well as matching contributions from the company. All the proceeds will be used to help veterans with spinal cord injuries and diseases, like MS and ALS, receive the benefits they earned, the specialized health care they need and the meaningful careers they want. Read more about this incredible gift by scanning the QR code. https://tinyurl.com/ OneWay4PVA MERCEDES-BENZ OF SUGAR LAND’S TOY DONATION TO TEXAS CHILDREN’S HOSPITAL In a heartwarming display of community spirit, Mercedes-Benz of Sugar Land and Car Culture proudly delivered over $3,000 worth of toys to Texas Children’s Hospital main campus. This generous contribution is the result of the incredible support shown during the most recent Car Culture Invitational and Toy Drive in Sugar Land. This annual event, a celebration of automotive excellence and community spirit, brought together car enthusiasts from across the region to support a meaningful cause. “We deeply appreciate everyone who helped make this toy drive a success,” said Ken Enders, president and owner at Mercedes-Benz of Sugar Land. “The community inspires us — not just with their love for cars, but with their kindness and commitment to giving back. Supporting Texas Children’s Hospital in brightening the lives of their patients is something we’re very proud to be a part of.” 31 DEALERS’ CHOICE
PARK PLACE DEALERSHIPS MEMBERS SUPPORTING LOCAL NONPROFITS DURING NATIONAL VOLUNTEER MONTH Association for Independent Living (Dallas): Volunteers painted apartments for individuals with intellectual and developmental disabilities transitioning into independent living, helping create a clean, cohesive and dignified space. Best Buddies: At Park Place’s Porsche Dealership, volunteers helped wrap t-shirts, make walk route posters and stuff swag bags to prepare for Best Buddies’ Friendship Walk, which benefits people with intellectual and developmental disabilities. Big Hearts Day Habilitation Center (Mansfield): Volunteers enhanced the nonprofit’s outdoor space by laying turf, staining fences and donating items like picnic benches and mobile planters to improve the environment for adults with disabilities. Bridge Builders (Dallas): In South Dallas, a local basketball court and adjacent parking lot were transformed with new paint and stenciling, creating a vibrant, welcoming community space. In celebration of National Volunteer Month, Park Place Dealerships members rolled up their sleeves and made a huge difference across North Texas. As part of the company’s Annual Week of Service, employees stepped away from their regular roles to support local nonprofits through hands-on volunteer projects, creating meaningful impact in the communities they serve. “Giving back is an integral part of our mission at Park Place Dealerships,” said Kara Connor, experiential marketing manager at Park Place Dealerships. “Our Week of Service is a special time for our team to step into the community and make a real difference. It’s our way of saying thank you to the communities that have supported us for so many years.” The nonprofits supported and projects completed by Park Place members included: DEALERS’ CHOICE 32
Center for Vision Health (Dallas): Volunteers completed a brand-new sensory garden designed for patients of all ages, including those with visual impairments or sensory sensitivities, providing a peaceful and therapeutic outdoor experience. Children First (Grand Prairie): Team members beautified the organization’s grounds by cleaning up landscaping, adding mulch and refreshing outdoor furniture to create a safe and welcoming space for children recovering from trauma. Community Healthcare of Texas (Grapevine): Park Place members assembled care packages with essential items to support families during hospice or palliative care, helping ease practical burdens and allowing them to focus on their loved ones. Evergreen Life Services (Fort Worth): Volunteers helped organize and clean the nonprofit’s art studio, a creative space for individuals with intellectual and developmental disabilities to express themselves through art. Frisco Humane Society: Volunteers organized supplies and event areas, streamlining operations to better serve animals in the metroplex needing shelter and medical care. House of Shine (Grapevine): Volunteers helped preserve the Parr Rock Art Trail, a tribute to individuals affected by COVID-19, by cleaning and resealing community-painted rocks to ensure their stories continue to shine. 33 DEALERS’ CHOICE
Little Hearts: At Park Place’s Lexus Plano Dealership, volunteers assembled 200 “hope packages” for families affected by childhood cancer. Each package included comforting items for parents and siblings during a difficult time. Our Daily Bread (Denton): Volunteers built a brick walkway in the nonprofit’s garden, enhancing the space while supporting their mission to serve individuals experiencing homelessness. Park Place Dealerships was founded in 1987 and has been engaged in the community through its support of the arts, medical research, children’s advocacy and education. Park Place employs more than 1,400 members and operates nine full-service dealerships representing luxury brands including Lexus, Mercedes-Benz, Porsche, Volvo, Land Rover, Acura and Sprinter Vans. Park Place BodyWerks Collision Centers in Fort Worth, Dallas, Plano and the Park Place Auto Auction, round out the company’s offerings. For more information, visit parkplace.com. DEALERS’ CHOICE 34
Celebrating 100 Years of Legacy, Family and Community at Jupiter Chevrolet A century is more than just a milestone — it’s a testament to resilience, dedication and the unbreakable bond between a business and its community. In 2025, Jupiter Chevrolet proudly celebrates 100 years of serving Garland, Dallas, and the surrounding areas with the same passion and care that began four generations ago. A Legacy Rooted in Garland What started in 1925 as Jackson Chevrolet laid the foundation for a family legacy that would span generations. Through the years, the dealership evolved — from Jackson Chevrolet to Newman Chevrolet, and finally becoming Jupiter Chevrolet, the name you know and trust today. But while the name has changed, one thing has remained constant: an unwavering commitment to putting customers first. Four Generations, One Family For 100 years, the business has remained in the hands of the same family, passing down values, knowledge and a deep love for the Garland community. Today, Michael Matetich Jr. proudly carries the torch as the current owner, representing the fourth generation of leadership. Under his guidance, Jupiter Chevrolet continues to embody the same warm, family-owned experience that our customers have come to expect for a century. More Than Just a Dealership The team at Jupiter Chevrolet believes that buying a vehicle should feel like visiting family. It’s this personalized, transparent and caring approach that has earned the trust of generations of customers across Garland, Dallas and beyond. From expert service and top-notch customer care to a wide selection of Chevrolet vehicles, their goal has always been simple: Treat every customer like family, and make every experience exceptional. Thank You, Garland and Beyond “To our loyal customers, supportive community and incredible staff — thank you! You’ve been the heart of our success for the past 100 years. We wouldn’t be here without you, and we’re excited to continue serving you for generations to come,” said Michael Matetich Jr. Here’s to a century of service and the road ahead. Cheers to 100 years of Jupiter Chevrolet! 35 DEALERS’ CHOICE
The Texas Automotive M&A Market TRENDS, CHALLENGES AND OPPORTUNITIES By DSMA The Driving Forces Behind M&A Activity in Texas: Several key factors are shaping the buy-sell landscape in 2025. Larger dealership groups and private equity investors are aggressively acquiring independent and family-owned stores, fueling consolidation across the state. Economic factors such as interest rates, tariffs, inflation concerns and fluctuating vehicle demand are influencing decision-making for both buyers and sellers. At the same time, original equipment manufacturer (OEM) strategies are placing significant financial and operational pressure on dealers. Meeting facility requirements, navigating EV investment and compliance, and adhering to strict digital and advertising covenants are all contributing to an evolving dealership environment. Market Consolidation: Who’s Buying and Selling? Large dealership groups — both publicly traded and privately owned — are continuing to expand their footprints in Texas. Meanwhile, many family-owned dealerships, facing succession challenges, are opting to sell rather than pass ownership down to the next generation. Private equity firms and institutional investors have also taken note of the profitability and stability of dealership investments, increasing their presence in the market. Another interesting trend is the influx of first-time buyers looking to transition into dealership ownership. Many of these candidates are factory-approvable but require assistance in sourcing capital. DSMA actively supports this new generation of ownership through its industry-leading first-time buyer program, which provides financial guidance, access to essential resources, and a network of industry contacts to help new owners successfully navigate the complexities of dealership ownership. The Role of Technology and Electrification in M&A: Technology and electrification are playing significant roles in shaping the Texas automotive market. There has been a marked shift in OEM, dealer, and consumer sentiment toward electric vehicles (EVs). The transition from a push model to more of a pull strategy means Texas dealers are expecting modest growth in EV market share, rising from 9% of the total product mix in 2024 to approximately 10% in 2025. The Bipartisan Infrastructure Bill allocated over $400 million to Texas for the development of an EV charging network along designated corridors, further supporting the state’s gradual shift toward electrification. Meanwhile, digital retailing trends have increased the value of dealerships with strong online sales platforms and customer engagement tools, making these businesses more attractive acquisition targets. Texas’ Economic Strength Fuels the Automotive Market: Economic data from the Texas Comptroller’s Office revealed that in 2024, the state’s economy grew by 4.8%, doubling the national growth rate of 2.4%. The state’s business-friendly policies, including no state income tax and relatively low corporate taxes, make it an attractive market for dealership ownership and expansion. Challenges in the Texas Automotive M&A Market: Despite the many opportunities in the Texas dealership market, challenges remain. Higher interest rates have increased borrowing costs, making acquisitions more expensive. Some potential buyers are delaying deals in hopes of more favorable financial conditions. Valuation trends are also a point of discussion, as high-performing dealerships continue to command strong multiples. However, buyers are becoming more selective, and blue-sky values have stabilized, varying significantly by brand and location. Succession planning remains another pressing issue, as many family-owned dealerships lack a clear path for transition. Furthermore, OEMs are becoming increasingly selective about approving new operators, adding another layer of complexity to dealership acquisitions. Strategic Partnerships and Capital Sourcing: To address these challenges, many dealers are seeking partnerships with private equity firms or sourcing alternative financing solutions to scale their businesses. Sale-leasebacks are becoming more popular, freeing up capital for acquisitions or to meet OEM image requirements. The Future of Automotive M&A in Texas: Looking ahead, the next three to five years will likely see continued consolidation, with mid-sized and independent dealerships being acquired by larger groups. As electrification and digital retailing trends gain momentum, dealers will prioritize acquisitions that align with these evolving industry dynamics. For dealers considering selling, now is a prime time to explore their options. The market is highly active, with demand significantly outweighing supply. DSMA’s industry-leading dealership valuations provide invaluable insights for sellers, often identifying double-digit enterprise value increases beyond traditional financial statement-based valuations. This professional third-party valuation is not just a document — it’s a package that can be taken to the bank. For buyers, strategic acquisitions in Texas offer strong return on investment. With competition among buyers at an all-time high, it is essential to stand out. DSMA provides tailored services that help buyers navigate the market effectively, whether they are seeking an open point, are first-time buyers, or are looking to target specific acquisition opportunities. If you are looking to buy, sell or better understand the Texas automotive market, reach out to Cody Cantu, regional director, Southwest USA, at cody.cantu@dsma.com or call (415) 264-9006. DEALERS’ CHOICE 36
OUR CENTRAL/WEST TEAM ERIC LEVITT Vice President, Partner eric.levitt@dsma.com 702.764.8385 GARY SWARTZ M&A Associate gary.swartz@dsma.com 925.858.1204 CODY CANTU Regional Director cody.cantu@dsma.com 415.264.9006 WES SMITH M&A Associate wes.smith@dsma.com 469.980.1497 For more information, or to learn more about our 100+ opportunities, visit DSMA.com. NOAH TRUBO M&A Associate noah.trubo@dsma.com 971.469.7693 WE CRUSH THE COMPETITION. DSMA IS THE #1 GLOBAL AUTOMOTIVE MERGERS & ACQUISITIONS FIRM. LET US HELP YOU FIND YOUR NEXT MONSTER OPPORTUNITY. SCAN THE QR CODE OR CALL 1-833-650-4188
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Texas Workforce Commission | Labor Market Information Department Page 13 2,242 claims INITIAL UI CLAIMS Page 8 2.8% JOB ADS INDEX Page 5 0.0 points UNEMPLOYMENT RATE Page 2 26,500 jobs INDUSTRY EMPLOYMENT March 2025 Monthly Indicators T he Texas Labor Market Review brings you the most current labor market highlights and happenings across the Lone Star State. The information that follows is produced and published on a monthly basis and includes data on nonagricultural job trends, the labor force, job postings, and other relevant indicators for both the state and sub-state areas. Additional data and historical information is available at TexasLMI.com. APRIL 2025 LABOR MARKET REVIEW TEXAS 39 DEALERS’ CHOICE
TWC Labor Market Information 2 Total Nonagricultural Jobs Highlights • Private Education and Health Services increased by 9,500 positions in March following a revised gain of 500 jobs in February. • Construction industry job count surged by 8,500 over the month in March, leading all major industries in monthly growth rate at 1.0 percent. • Trade, Transportation, and Utilities grew by 6,100 positions over the month in March to set a third consecutive series high. Industry Mar 2025 Monthly Change Annual Change Annual % Change Total Nonagricultural 14,282,600 26,500 192,100 1.4 Total Private 12,139,200 23,200 155,700 1.3 Goods Producing 2,070,900 7,500 29,100 1.4 Mining and Logging 222,400 -800 2,300 1.0 Construction 877,900 8,500 28,700 3.4 Manufacturing 970,600 -200 -1,900 -0.2 Service Providing 12,211,700 19,000 163,000 1.4 Trade, Transportation, and Utilities 2,799,100 6,100 33,400 1.2 Information 227,800 700 1,100 0.5 Financial Activities 941,900 -800 20,300 2.2 Professional and Business Services 2,128,600 -1,000 8,700 0.4 Private Education & Health Services 1,959,600 9,500 38,800 2.0 Leisure and Hospitality 1,518,600 -1,100 12,600 0.8 Other Services 492,700 2,300 11,700 2.4 Government 2,143,400 3,300 36,400 1.7 Total Nonfarm employment rose by more than 20,000 jobs for the fourth straight time in March with an increase of 26,500 positions over the month. This series has marked 38 new series-high job counts in the last 42 months—including each of the last four—which brought employment to a level of 14,282,600. Since March 2024, Total Nonfarm employment expanded by 192,100 positions for an annual growth rate of 1.4 percent, which was up slightly over the month. Six of the 11 major industries added jobs over the month in March, 10 expanded over the year, and five reached new series employment highs. CURRENT EMPLOYMENT STATISTICS Statewide Industry Employment (Seasonally Adjusted) DEALERS’ CHOICE 40
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