By Jonah Gjertson, Senior Consultant at Blue & Co.
Over the past five years, Indiana has emerged as a hot spot for retail automotive dealership transaction activity.
Its ranking as the fourth-highest state in the Midwest for dealership transactions and ninth overall across the United States reflects a robust and competitive environment where consolidation, succession planning, and strategic expansion are all driving forces.
Furthermore, Indiana has outpaced several neighboring states with a five-year total of 55 dealership transactions. These metrics signal Indiana’s growing appeal to regional and national buyers.
Several key factors underpin the state’s strong performance, making it an attractive market for dealership groups seeking expansion. These factors include:
- Centrally located in the United States
- Car-centric city and state planning
- Favorable business climate
- Diverse urban and rural markets
The consistent volume of transactions also suggests that Indiana dealers are actively engaging in succession planning and capitalizing on high valuations in this market.
Beyond Indiana, other Midwest states, such as Ohio, also have a similar appeal.
In 2024, Indiana generated $19.29 billion in retail automotive sales through its dealerships, approximately 44 percent of Ohio’s $43.67 billion in the same period. Ohio is the largest Midwest state in terms of buying and selling transactions and dealership revenue.
The Midwest’s consistent transaction activity over the past five years reflects not just market churn but a signal of strategic evolution. For buyers in the retail automotive space, the Midwest represents both stability and opportunity to enter or grow a portfolio of retail automotive dealerships.
Indiana’s position as a top ten state in the country for dealership transactions reflects a well-calibrated regulatory framework, strategic geographic advantages, and a business climate that encourages growth.
With billions in annual retail automotive sales and a steady stream of buy/sell activity, the state has proven its resilience and adaptability in an evolving industry. As consolidation continues, Indiana and the Midwest remain attractive locations for buyers in the retail automotive market.
Questions? We’re Here to Help.
If you are wondering how the current automotive buy/sell activity may affect the value of your business, do not navigate these questions alone. Reach out to your local Blue & Co. advisor to explore how these updates affect your business and how we can help you prepare.
About Us
Jonah Gjertson, Senior Consultant with Blue & Co., is a seasoned professional with a background in corporate development and business valuation. From 2022 to 2025, he served as a Corporate Development Analyst at Gee Automotive Companies, where he contributed to strategic growth initiatives within the retail automotive sector. His experience spans equity evaluation, financial modeling, and strategic consulting, and he has been praised for his analytical rigor and collaborative leadership in both academic and professional settings.
Sources
- “AutoNews Dealership Buy-Sell Database Enhancements.” Automotive News, 9 Sept. 2025, https://www.autonews.com/retail/mergers-acquisitions/an-dealership-buy-sell-database-enhancements-0909.Cox
- NADA Data 2024: Annual Financial Profile of America’s Franchised New-Car Dealerships. National Automobile Dealers Association, 2024. https://www.nada.org.
