Nissan, Fiat and Maxus dealer, dominating within Nissan electric cars on Zealand
In the wake of the internet crisis after 2003, car sales in Denmark was very low. In 2008, the CFO of Autonorden was given the opportunity to buy the entire company. Having been involved in positioning the companys response to Nissan having cancelled all dealership contracts in Denmark to set up a new structure, I was offered to participate in the ownership and taking an active board role.
Having a good potentail for professionalizing the family owned business, Autonorden started a journey of doubling the sales and getting a profitability in the best quartile this business. Both sales and service facilities was rebuilt and the real estate holding was separated from the car business.
The company are continuing its development as a one-location dealership in a market with continually increasing pressure from the car manufacturers. Regular dividends has made this an attractive case.
This may be a viable long term strategy, given the huge additional complexity and overhead related the managing a multilocation multibrand business. It may also be attractive to merge into a company that pursue such consolidation strategy.