Lithia unloads Toyota, Ford and Bentley-Lotus dealerships

BE desk

Lithia mentioned it offered Bentley of Denver-Lotus of Denver, in the past housed in its Ferrari of Denver dealership in Highlands Ranch, Colo., to John Elway Dealerships on June 8.

Lithia obtained the unique and ultraluxury dealership in December. Lithia plans to finish a complete transform of the Ferrari bind in keeping with the automaker’s unused symbol program, which is to be unveiled then this hour, Dobry mentioned in an e-mail.

John Elway Dealerships — named for the previous NFL celebrity and longtime Denver Broncos quarterback who owns a number of dealerships with companions — moved the Bentley and Lotus manufacturers to a construction that was once a used-vehicle bind in within sight Lone Tree, Colo., consistent with Todd Maul, the gang’s managing spouse. The dealership is then to its Cadillac bind.

Past John Elway Dealerships already had luxurious dealerships from BMW and Porsche, along with Cadillac, the renamed Bentley Denver-Lotus Denver is the gang’s access into the ultraluxury department, Maul mentioned.

“The way we see it, it complements our Cadillac brand in a way that is fairly rare to have,” Maul advised Automobile Information. “Because it’s not like people are coming in trying to decide between an XT5 and a Bentayga. And even for that matter, the Escalade is just a very different vehicle than the Bentayga.”

Maul mentioned the construction just lately have been refreshed however shall be introduced as much as Bentley’s company glance. The crowd is making plans the way it desires to accommodate Lotus and anticipates receiving its first automobiles within the fall.

The do business in marked John Elway Dealerships’ first franchised dealership acquisition because it purchased a BMW dealership and a Petite bind in 2020, Maul mentioned. The crowd has been an lively purchaser of powersports dealerships lately.

John Elway Dealerships offered a Stellantis dealership and a majority stake in a Toyota bind, each close Los Angeles, ultimate hour.

Elway were given into dealership possession years in the past and offered retail outlets in 1997 to Republic Industries Inc., which changed into AutoNation Inc.

Maul, a age chairman of the Colorado Car Sellers Affiliation, labored for Chesrown Staff within the Nineteen Nineties. He was once with Chesrown when it offered to Republic in 1997. Maul stayed on with AutoNation and was once that auto store’s west area president till 2008.

Quickly upcoming he left AutoNation, Maul changed into companions with Elway and Mitch Pierce, every other spouse at John Elway Dealerships, at a Chrysler-Dodge-Jeep-Ram bind in Greeley, Colo., and expanded from there.

John Elway Dealerships ranks Refuse. 123 on Automobile Information‘ listing of the supremacy 150 dealership teams, retailing 6,517 unused automobiles in 2022. Lithia, of Medford, Ore., ranks Refuse. 1 on that very same listing, retailing 271,596 unused automobiles in 2022. Lithia’s gross sales figures come with dealerships outdoor the U.S.

Pinnacle Mergers & Acquisitions, a Frisco, Texas, buy-sell company, represented Lithia within the Bentley-Lotus transaction. The sale of the Bentley-Lotus bind was once Lithia’s first U.S. divestiture because it offered an Alabama Subaru dealership in March, Dobry showed.

Tesla Model 3 Performance EV sales will continue to grow despite the mixed near-term outlook,…

The waste management and resource experts at LondonEnergy have taken delivery of a Volvo FM…

The all-electric Genesis GV60 is due for an upgrade. The electric luxury SUV is getting…