Prime Automotive reportedly looking to sell all dealerships in Maine

Prime Automotive Group is looking to sell its 31 dealerships, including the seven it owns in Maine, trade publication Automotive News is reporting.

Toyota and Volkswagen have threatened to revoke their respective franchise agreements with two Prime Motor Group dealerships in Saco because of alleged breaches of contract. Ben McCanna/Staff Photographer, file

The Massachusetts-based company has been swirling in controversy for years, capped in February when the head of its parent firm, GPB Capital Holdings, was arrested and charged with fraud.

Automotive News said another dealer in the Northeast submitted a bid for some of the dealerships two months ago, but was rebuffed and told that Prime Automotive was only interested in selling all of its dealerships in a single transaction.

A spokeswoman for Prime Automotive Group declined to comment on the report Friday but did not refute its findings. The company’s Maine holdings include Prime Toyota, Prime Volkswagen,

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