Buffett likely to buy more dealers

Legendary US investor Warren Buffett says he is likely to make more acquisitions in the automotive dealer industry.

As part of an automotive industry forum, Buffett told a room full of dealers and distributors that the automotive retail trade could be a good business.

“It’s a huge industry. It can be, if run properly, a very good business.

Earlier this month to buy the nation’s largest, privately held auto dealership chain, the Phoenix-based Van Tuyl Group, the fourth-largest auto retail chain in the United States

In buying the Van Tuyl Group, Buffett said he intends to keep buying more dealerships. “I think we’re likely to make some acquisitions. We always do what we say. We will make more deals.”