Parks Automotive Group

What Parks Automotive Group does

Parks Automotive Group is a family-owned, multi-brand franchised automotive dealership group headquartered in Kernersville, North Carolina, founded in 1967 by Hubert Parks after his U.S. Army service. The company operates 14 dealership rooftops across Virginia, North Carolina, and South Carolina, representing 11 OEM franchises: Acura, Audi, BMW, Buick, Chevrolet, Chrysler, Dodge, Ford, GMC, Jeep, and RAM. Current inventory disclosed on its digital storefront includes 2,969 new vehicles, 468 certified pre-owned units, and 536 pre-owned vehicles, supporting both retail consumer and commercial/fleet demand.

The group's revenue model spans the full dealer economic stack: new and used vehicle sales (one-time transactions), captive finance and lending (transaction fees), service and maintenance performed by OEM-certified technicians (professional services), OEM parts sales (hardware), collision repair (professional services working with major insurers), and the proprietary Parks Protection Plan covering extended service contracts, GAP, and prepaid maintenance (subscription/recurring). GTM is sales-led through physical showrooms augmented by a full e-commerce website (parksautogroup.com) offering inventory search, financing applications, trade-in valuation, and service scheduling, plus a dedicated commercial/fleet channel under Parks Commercial. A 3-day easy exchange pre-owned program and a federal tax-deduction promotion tied to the 2025 One Big Beautiful Bill Act are active sales levers.

The Parks family retains controlling ownership; Adam Parks (son of the founder) leads the group. In June 2023, Franchise Equity Partners invested $55 million for a minority stake, representing the company's first disclosed external institutional capital and providing resources for ongoing expansion. Marketing is multi-channel: owned website, Facebook, YouTube, and manufacturer co-marketing. The underlying technology platform is a conventional dealer management stack with standard integrations; no proprietary AI/ML, data, or platform technology is disclosed.

Name

Parks Automotive Group

Legal name

Parks Automotive Group

Website

https://parksautogroup.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

Parks Automotive Group is a family-owned franchised dealership group operating 14 rooftops across Virginia, North Carolina, and South Carolina, selling 11 OEM brands and providing new/used vehicle sales, F&I, service, parts, collision repair, commercial/fleet services, and the Parks Protection Plan.

Ownership category

akta.pro rank

Headquarters

HQ city

Kernersville

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Inventory / Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. New Vehicle Sales: Sale of new vehicles across 11 major automotive brands including Chevrolet, Ford, Chrysler, Dodge, Jeep, RAM, Buick, GMC, Acura, Audi, and BMW
2. Used Vehicle Sales: Sale of pre-owned and certified pre-owned vehicles
3. Finance and Lending Services: Vehicle financing and lending services offered through internal finance centers at each dealership location
4. Service and Maintenance: Vehicle service and maintenance including oil changes, tire rotations, brake repairs, transmission services performed by OEM-certified technicians
5. Parts Sales: Sale of OEM factory parts for vehicle repairs and maintenance
6. Collision Repair: Collision center services including body repairs and refinishing working with insurance companies
7. Protection Plans and Extended Warranties: Extended service contracts, tire and wheel protection, paint and interior coverage, GAP protection, and various vehicle protection plans

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Parks Automotive Group operates a network of 14 franchised automotive dealerships across Virginia, North Carolina, and South Carolina, selling new vehicles from 11 brands (Chevrolet, Ford, Chrysler, Dodge, Jeep, RAM, Buick, GMC, Acura, Audi, BMW), certified pre-owned and used vehicles, plus financing, OEM-certified service and collision repair, OEM parts, vehicle protection plans, and a dedicated commercial/fleet department.

Product overview

Parks Automotive Group is a multi-brand automotive dealership network operating 14 dealership locations across North Carolina, Virginia, and South Carolina. The company offers a comprehensive automotive retail platform consisting of new vehicle sales (11 brands: Chevrolet, Ford, Chrysler, Dodge, Jeep, RAM, Buick, GMC, Acura, Audi, BMW), pre-owned vehicle sales (certified pre-owned and used inventory), financing services, service and collision centers, parts departments, and commercial/fleet solutions. The portfolio is unified under the Parks brand with a centralized website, while each location maintains dedicated finance, service, and parts operations. Additional offerings include the Parks Protection Plan (extended warranties, GAP, maintenance plans) and a $10K tax deduction program for qualifying vehicle purchases.

Differentiator

Problem solved

Functional benefit

Brands

• Parks Protection Plan: Vehicle protection plans including extended service contracts, tire and wheel protection, paint and interior coverage, and guaranteed asset protection (GAP).
• Parks Commercial

Products and services

• New Vehicle Sales Sale of brand-new vehicles across 11 automotive brands (Chevrolet, Ford, Chrysler, Dodge, Jeep, RAM, Buick, GMC, Acura, Audi, BMW) with approximately 2,969 new vehicles in inventory across the dealership network.
• Pre-Owned Vehicle Sales Sale of certified pre-owned and used vehicles, including 468 certified pre-owned vehicles and 536 general pre-owned vehicles in stock, with pricing categories such as under $20k and under $35k.
• Vehicle Financing Services In-house vehicle financing and lending services for new and pre-owned vehicles, with dedicated finance teams at each dealership location and online financing application via parksautogroup.com.
• Service Centers OEM-certified vehicle service and maintenance across 13 dealership locations, including oil changes, tire rotations, brake pad replacement, transmission repairs, and general maintenance performed by qualified technicians.
• Collision Centers Body shop and collision repair services that work with all major insurance companies, repairing vehicles to factory standards using the latest repair and refinish technology.
• Parts Centers Factory OEM parts inventory at all dealership locations, available for DIY projects, dealership repairs, and vehicle accessories.
• Commercial and Fleet Services Dedicated commercial and fleet department providing commercial vehicles, upfits/customization, fleet leasing, and work-ready vehicle solutions for business owners and fleet operators.
• Parks Protection Plan Vehicle protection plans offering extended service contracts, tire and wheel protection, paint and interior coverage, guaranteed asset protection (GAP), and various prepaid maintenance plans.
• Value Your Trade Online vehicle trade-in evaluation service that provides customers with quotes for their current vehicles to apply toward a new or pre-owned purchase.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Morgan Auto Group: Florida-based private multi-brand dealer group with comparable size and OEM portfolio. Similar growth-by-acquisition strategy and Southeast footprint overlap with Parks.
• Asbury Automotive Group: Public mid-large dealer group with a similar mix of mass-market and luxury franchises, heavy Southeast concentration, and active acquisition strategy. Comparable revenue mix across new, used, F&I, parts, and service.
• Hendrick Automotive Group: Largest privately-held dealer group in the U.S., also headquartered in the Carolinas. Highly comparable business model: family-controlled, multi-brand, multi-state Southeast/Mid-Atlantic footprint with strong F&I and service attach economics.
• Sonic Automotive: Public multi-brand dealership group headquartered in Charlotte, NC — directly comparable to Parks on geography (Southeast), multi-brand OEM portfolio, and integrated F&I/parts/service model. Sonic's EchoPark used-car standalone stores provide a similar adjacent growth vector to Parks' pre-owned/CPO business.
• Ken Garff Automotive Group: Large privately-held multi-brand dealer group with comparable family-ownership structure, multi-state footprint, and integrated F&I/service model. Similar stage and scale to Parks.
• Holman Automotive: Privately-held, family-controlled dealer group with both retail dealerships and a large commercial/fleet leasing business. Highly comparable to Parks' diversified mix of retail and Parks Commercial fleet operations.
• Group 1 Automotive: Public multi-brand dealer group with both U.S. and U.K. operations. Highly comparable franchise portfolio and F&I-led monetization model; a relevant benchmark for Parks' next-stage scaling economics.

Broad incumbents

• AutoNation: Largest U.S. auto retailer by revenue with national footprint and broad brand coverage. Comparable on integrated retail model but materially larger; relevant as both competitor for acquisition targets and benchmark for digital retailing capabilities.
• Lithia Motors: Largest U.S. auto retailer by store count and revenue, pursuing an aggressive rollup strategy. Not a same-size peer but the dominant consolidator whose acquisitions and multiples set the ceiling/floor for valuations of mid-sized groups like Parks.
• Berkshire Hathaway Automotive: Subsidiary of Berkshire Hathaway operating a large multi-brand dealership network across multiple U.S. regions. Comparable long-hold, patient-capital ownership model and franchise mix to Parks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@parksautomotivegroup8218
• Facebookfacebook.com/parksautomotivegroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parks Automotive Group