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Acquisitions and Dispositions
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
ACQUISITIONS AND DISPOSITIONS
ACQUISITIONS AND DISPOSITIONS
Acquisitions
During the three months ended March 31, 2019, the Company opened one dealership representing one awarded franchise in the U.S. and one dealership representing one awarded franchise in the U.K.
During the three months ended March 31, 2018, the Company acquired 5 dealerships, inclusive of 8 franchises, and opened one dealership for one awarded franchise in the U.K. Additionally, the Company acquired two dealerships in the U.S., inclusive of two franchises. Aggregate consideration paid for these dealerships totaled $76.6 million, including the associated real estate and goodwill. Also included in the consideration paid was $5.1 million of cash received in the acquisition of the dealerships. The purchase prices were allocated based upon the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates.
Dispositions
During the three months ended March 31, 2019, the Company disposed of three dealerships representing six franchises in the U.S., and one dealership representing one franchise in the U.K, and recorded a net pre-tax gain of $5.2 million.
During the three months ended March 31, 2018, the Company had no dispositions.