Capital Automotive Group Announces Acquisition of Larry Cloninger Dealerships, Continuing a Legacy Built Over Generations
RALEIGH, N.C. -- Capital Automotive Group today announced the acquisition of six Larry Cloninger dealerships and an independent collision center in North and South Carolina, marking a significant expansion for the family-owned automotive group and, more importantly, the continuation of a legacy built on relationships, community, and more than four decades of friendship between the Cloninger and Michael families.
The acquisition includes:
* Toyota of Florence in Florence, South Carolina
* Cloninger Toyota in Salisbury, North Carolina
* Cloninger Ford in Salisbury, North Carolina
* Cloninger Honda in Salisbury, North Carolina
* Cloninger Ford of Morganton in Morganton, North Carolina
* Cloninger Ford of Hickory in Hickory, North Carolina
* Cloninger Collision Center in Salisbury, North Carolina
For Larry Cloninger and the Michael family, however, the transaction represents far more than the transfer of dealerships.
Larry Cloninger and Capital Automotive Group's Tim Michael have been friends and respected colleagues in the automotive industry for more than 40 years. Throughout their careers, both families built their organizations around many of the same principles: treating employees like family, taking care of customers, giving back to their communities, and building businesses intended to last for generations.
That longstanding relationship made the Michael family a natural choice when the time came for Cloninger to consider the future of the dealerships bearing his family name.
"When you spend your life building something, the people you ultimately entrust it to matter tremendously," said Larry Cloninger. "I have known Tim and the Michael family for more than 40 years. I know the kind of people they are, the way they operate their dealerships and the importance they place on their employees and communities. There is a tremendous amount of comfort in knowing these stores and our people are being handed to a family we know, respect, and trust."
For Capital Automotive Group, the opportunity comes with both excitement and a deep sense of responsibility to honor what the Cloninger family has built.
"Larry has been a friend of our family for more than four decades, and that makes this acquisition incredibly special to us," said Tim Michael of Capital Automotive Group. "We have tremendous respect for Larry, his family, and the organization they have built. You don't create a legacy like this overnight. It comes from decades of hard work, relationships, and doing the right thing for your employees, your customers, and your community. We are honored that Larry has trusted our family with what he has built, and we take that responsibility very seriously."
As part of the transition, Capital Automotive Group will proudly carry forward a message already familiar to Cloninger customers and employees: Just Better.
Rather than leaving that philosophy behind, Capital plans to make it part of the next chapter for the dealerships - a reflection of the shared values between the Cloninger and Michael families and their mutual commitment to continually improving the customer and employee experience.
For customers, much of what they know and value about their local dealership will remain unchanged. The familiar employees, local relationships, and community connections that have defined the Cloninger dealerships will continue, now supported by the additional resources, scale, and experience of Capital Automotive Group.
"The phrase 'Just Better' really captures how we want to approach this transition," said Lindsey Michael Longo of Capital Automotive Group. "This isn't about changing what has made these dealerships successful. It's about honoring what Larry and his teams have built, keeping the great people and strong local relationships already in place, and giving those teams additional resources and opportunities for the future. Same People. Same Commitment. Just Better."
Capital Automotive Group's priority throughout the transition will be continuity for employees, customers and the communities the dealerships have served for generations.
"Our goal isn't simply to acquire dealerships; it's to build upon great organizations," Longo added. "The Cloninger stores have strong teams, loyal customers, and deep roots in their communities. We want those employees to know how much we value what they have helped build. We are coming into these stores with tremendous respect for their history and with a commitment to invest in their people, their customers and their future."
The acquisition strengthens Capital Automotive Group's presence throughout North Carolina while expanding the company's footprint in South Carolina. It also adds Toyota and Honda locations in key markets alongside Capital's growing Ford representation.
Both families share a multigenerational connection to the automotive business, making the transition particularly meaningful. Capital Automotive Group's history began with the purchase of Capital Ford in Raleigh in 1985 and has grown substantially over the decades while remaining grounded in the relationships and values established by its founders.
The addition of the Cloninger dealerships continues that growth while preserving the family-focused philosophy at the heart of both organizations.
"There are acquisitions that make sense on paper, and then there are opportunities that mean something personally," Michael added. "This one means something to our family. Larry's friendship has spanned nearly our entire history in the automotive business. We are grateful for his confidence in us, and we intend to make him proud of where these dealerships go from here."
Capital Automotive Group plans to work closely with the existing leadership and employees at each location to ensure a seamless transition and to continue providing customers with the service and relationships they have come to expect.
The acquisition officially closes one chapter for the Cloninger family while beginning another under the Michael family's leadership - connecting two automotive families whose friendship and mutual respect began more than 40 years ago.
And while the name on the dealerships may change, the commitment behind them will continue:
Same People. Same Commitment. Just Better.
ABOUT CAPITAL AUTOMOTIVE GROUP
Capital Automotive Group was founded by Chester "Junie" Michael, Tim Michael and Hubert Parks, whose partnership began with the purchase of Capital Ford in Raleigh, North Carolina, in 1985. From that single dealership, the organization has grown over the years into one of the region's largest privately held automotive groups, with locations throughout North and South Carolina representing a diverse portfolio of automotive brands.
While the company has grown significantly, Capital Automotive Group remains rooted in the same principles on which it was founded: strong partnerships, a commitment to its employees and customers, investment in the communities it serves, and a long-term approach to the automotive business. Today, the next generation of the Michael family continues to build upon that foundation while carrying the organization forward.
Learn more: https://capitalautogroup.com/
Related link: https://capitalautogroup.com/
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