Eager buyer slams into GC car market

Australia’s largest car dealer is crashing into the Gold Coast automotive scene, snapping up a big slice of one of the city’s largest dealerships.

Car industry giant Eagers Automotive is buying a 49 per cent stake in the Grand Motors Group, which has been one of the major players since the business was first founded in the 1950s.

The Gold Coast company, which also operates Northshore BMW and MINI in Sydney, last year drove sales of $490 million from 6100 cars across its 11 locations.

The Greg Scott-led company has long been considered among the Gold Coast’s top five dealership groups. The company, which was founded in the 1950s, now employs more than 100 people.

The deal marks a major return to the Gold Coast for Eagers Automotive, which previously owned Surfers City Holden before selling to the Von Bibra Group in 2018

Mr Scott and his equity partners would retain shareholdings in the company, and the current management team would continue to operate the business if the deal settles as planned in June this year.

Mr Scott said the car industry was rapidly evolving and the new partnership made sense for the business.

“Never in my many years in the automotive industry have I seen as much change and evolution to the business as I have seen in the last few years,’’ Mr Scott said.

“I have always believed change creates opportunity, and to make sure our business is best positioned to capitalise, I believe it is critical that we are in business with a strong, well-resourced and innovative partner.

“This partnership with Eagers Automotive delivers a sustainable platform for myself, my family and business partners to grow with the leading automotive retail group in Australia and together leverage the various opportunities that will come our way.”