Gad Bitton, President & CEO of Holand Automotive Group (CNW Group/Holand Automotive Group)
Holand Automotive Group, a Canadian-owned dealer group headquartered in Montreal, Quebec, has completed the sale of Ferrari Rancho Mirage to Texas-based Lapis Automotive Group, a move that underscores how Canadian-owned dealer groups continue to shape the U.S. luxury auto market.
The transaction, announced Dec. 17, was completed with the full knowledge, support and approval of Ferrari North America. Holand said the decision followed a collaborative process focused on long-term brand stewardship, regional expertise and operational excellence.
“After careful consideration, and with Ferrari’s blessing, we determined this was the right time to transition the business to an owner with strong local focus and expertise,” said Gad Bitton, president and CEO of Holand Automotive Group, in a statement. “This decision reflects our responsibility to act in the best long-term interests of the brand and our strategic vision.”
Holand Automotive Group described the sale as a strategic portfolio decision within the highly seasonal Palm Springs and Coachella Valley market. The dealership will now be led by Lapis Automotive Group, headed by Todd Blue, who brings deep local experience from his previous role as chief executive officer of Indigo Auto Group.
Holand cited the need for constant on-site leadership and intimate market knowledge as key factors behind the sale, noting that local ownership offered the most effective path to sustained success for the Ferrari brand in Rancho Mirage.
Despite the divestiture, Holand remains committed to California and the Ferrari network. The group continues to own and operate Ferrari of South Bay in Torrance and said it will continue evaluating growth opportunities across California and other major metropolitan markets aligned with Ferrari.
The deal highlights how Canadian capital continues to play an active role in U.S. retail auto, particularly in high-end and performance brands.
