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business22h ago
Carter Myers Automotive moves into Maryland with Toyota and Hyundai acquisitions
- Carter Myers Automotive expands into Maryland by purchasing Toyota and Hyundai dealerships in Lexington Park.
- CMA plans for Honda's Lexington Park store to open in 2026 and will retain current employees at the two acquisitions.
- The acquisitions represent CMA's strategic move to grow in smaller communities for personal, community-focused service.
- CMA's expansion in Maryland marks its first Maryland stores, part of a broader mid-Atlantic growth strategy.
- Executive leadership shift planned, with CMA appointing an executive manager to oversee all three Lexington Park stores.
- CMA's geographic approach targets the mid-Atlantic with a revolving circle of growth from its Charlottesville base.
- CMA emphasizes cost efficiency by matching image-ready facilities, reducing renovation needs for acquisitions.
- CMA plans to leverage the two new stores as a training ground to accelerate Honda store readiness.
- The deal underscores CMA's focus on non-luxury, high-volume brands in smaller markets.
- Lexington Park, Maryland, chosen for CMA’s Maryland entry due to its community-focused environment.
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