12:40 ET Holand Automotive Group Announces the sale of Ferrari Rancho Mirage to Lapis Automotive Group

, /PRNewswire/ - Holand Automotive Group today announced the sale of Ferrari Rancho Mirage to Lapis Automotive Group, led by Todd Blue, following a collaborative and carefully considered process conducted in close partnership with Ferrari North America.The transaction was completed with Ferrari's full knowledge, support, and approval, reflecting a shared commitment to long-term brand stewardship, regional expertise, and operational excellence. Continue Reading Gad Bitton, President & CEO of Holand Automotive Group (CNW Group/Holand Automotive Group) Todd Blue brings deep experience in the Palm Springs and Coachella Valley market, having previously served as Chief Executive Officer of Indigo Auto Group, where he successfully built and exited a highly respected luxury automotive platform. A long-standing professional relationship between Todd Blue and Gad Bitton, President & CEO of Holand Automotive Group, led to the shared conviction that Lapis Automotive Group is well positioned to lead Ferrari Rancho Mirage going forward. "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. "This decision reflects our responsibility to act in the best long-term interests of the brand and our strategic vision."Holand Automotive Group noted that the market's highly seasonal nature and need for constant on-site leadership made local ownership the most effective path for sustained success.The Group remains firmly committed to California and continues to own and operate Ferrari of South Bay in Torrance, a high-performing dealership serving the greater Los Angeles market. Holand Automotive Group will continue to evaluate growth opportunities across California and other major metropolitan markets aligned with the Ferrari brand."We remain deeply committed to Ferrari and to our long-standing partnership," Gad Bitton added.This transaction underscores Holand Automotive Group's disciplined approach to portfolio management and its focus on long-term growth, scale, and market density in the United States and Europe.About Holand Automotive GroupHoland Automotive Group is a global automotive retail organization representing leading ultra-luxury and performance brands, including Ferrari, Lamborghini, Rolls-Royce Motor Cars, BMW, McLaren, and Maserati. The Group is known for its disciplined governance, strategic vision, and commitment to excellence.For more information, please contact Anastasia Panayotou, 514-867-3199, [email protected].SOURCE Holand Automotive Group