Berkshire Hathaway has officially taken over the Van Tuyl Group of automobile dealers across the South and Midwest, putting Warren Buffett in charge of the nation's fifth-largest chain of dealerships.
The US auto dealer industry recently saw a huge shakeup when Warren Buffett's Berkshire Hathaway investment company bought Van Tuyl Group, the country's largest privately owned network of showrooms, for an undisclosed sum. Assuming the deal's regulatory success, it immediately made Buffet one of the nation's largest car retailers. But could the acquisition have come as part of a larger plan to launch a Chinese automaker in the US?
When Warren Buffet makes an investment, people pay attention. That's just one of the perks of being one of the richest men in the world, and his latest move is a big one. Buffet's Berkshire Hathaway investment company is to hopping into the auto business in a huge way by buying Van Tuyl Group, the nation's largest privately owned auto dealer network, for an undisclosed sum.