Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Related Party Transactions

Schedule of automotive joint venture relationships

Location	Dealerships	Ownership Interest
Fairfield, Connecticut	Audi, Mercedes-Benz, Sprinter, Porsche, smart		83.57	%(A)(C)
Greenwich, Connecticut	Mercedes-Benz		80.00	%(B)(C)
Las Vegas, Nevada	Ferrari, Maserati		50.00	%(D)
Frankfurt, Germany	Lexus, Toyota		50.00	%(D)
Aachen, Germany	Audi, Lexus, Skoda, Toyota, Volkswagen, Citroën		50.00	%(D)
Northern Italy	BMW, MINI		70.00	%(C)

(A)

An entity controlled by one of our directors, Lucio A. Noto (the "Investor"), owns a 16.43% interest in this joint venture which entitles the Investor to 20% of the joint venture's operating profits. In addition, the Investor has an option to purchase up to a total 20% interest in the joint venture for specified amounts.

(B)

An entity controlled by one of our directors, Lucio A. Noto (the "Investor"), owns a 20% interest in this joint venture which entitles the Investor to 20% of the joint venture's operating profits.

(C)

Entity is consolidated in our financial statements.

(D)

Entity is accounted for using the equity method of accounting.