Ciocca Dealerships announces the acquisition of three new dealerships in Atlantic City including Kerbeck Chevrolet – the world’s largest Corvette dealer
For over 25 consecutive years, Kerbeck Chevrolet of Atlantic City, New Jersey has been the world’s largest Corvette dealer in the world. Over the years, their advertisements in Corvette and automotive publications along with their TV commercials during Barrett-Jackson and Mecum auctions, catapulted the dealership to the #1 Corvette dealer spot above all other Chevy dealers.
A couple months ago, we heard rumors, that Kerbeck Chevrolet may be sold to a dealer conglomerate known as Ciocca Dealerships. In December of last year, Ciocca announced that they acquired Kerbeck’s Subaru franchise fueling online rumors that Kerbeck’s Chevrolet and Cadillac dealerships were also under agreement.
The rumors slowly subsided until yesterday afternoon, when Ciocca Dealerships officially announced the acquisition of Kerbeck Chevrolet Buick GMC, Kerbeck Cadillac and Kerbeck Corvette.
According to a Kerbeck Chevrolet spokesman, the sale will be completed this coming Wednesday. Since the Corvette Team at Kerbeck has had a long history of selling Corvettes, the new owners have stated that they have no plans to make any changes within Kerbeck’s Corvette department.
From the Ciocca’s announcement:
Ciocca acquires three stores in Atlantic City
New Chevrolet, Buick, GMC, Cadillac, Corvette stores join group
Ciocca Dealerships acquired three new dealerships in Atlantic City on June 28, 2021. The new dealerships are Ciocca Chevrolet Buick GMC of Atlantic City, Ciocca Cadillac of Atlantic City and Ciocca Corvette of Atlantic City. The stores were previously part of the Kerbeck group, a long-standing and respected family of stores in New Jersey. All three dealerships are located on a single campus along North Albany Avenue in Atlantic City.
The former Kerbeck Corvette was recognized as the world’s largest Corvette dealership since 1994, so Ciocca Corvette was formed to keep that tradition of Corvette sales going in Atlantic City.
“Everyone is excited to become involved in the community and meet our new customers and team members in Atlantic City,” Ciocca Dealerships CEO and founder Gregg Ciocca said. “The energy and growth in this area made this an exciting opportunity to add to our family of dealerships.”
The acquisitions bring the total number of Ciocca’s dealerships to 24 with 16 unique brands, including the group’s first Cadillac dealership. In December 2020, we acquired Ciocca Subaru of Pleasantville, also formerly Kerbeck, just outside of Atlantic City.
“Our goal is to continue the excellent service Kerbeck provided to its customers over the past 100 years,” Ciocca said. “We look forward to delivering that top-quality service to new existing customers in the years ahead.”
The sale doesn’t come as a surprise as it’s well known that the C8 Corvette has been a hot ticket item since its debut in 2020. Demand for the car has been astronomical and Chevy dealers have had a difficult time trying to get their hands on the car due to all of the Corvette Assembly Plant shutdowns since the C8 Corvette was introduced.
While many Chevy dealer have been tacking on “market adjustments” of up to $50,000 on top of the Corvette’s MSRP, Kerbeck Chevrolet has been selling them at MSRP making them a favorite among Corvette customers.
With their large allocation level, and the profitability found in Corvette sales right now, it was a perfect time for the Kerbeck family to sell.
Source: Ciocca Dealerships