Driving the news: Pierce Automotive Group bought a pair of Lexus dealerships near San Diego, California, from Halo Motor Group, in a deal that closed January 14.
For context: Lexus Carlsbad and Lexus Escondido became well-established in North San Diego Country under Halo Motor, founded in 1972 by Lou Jones, according to its website.
Mitch Pierce, president of Pierce Automotive, said Jones-Cone’s “influence remains deeply woven into the way we approach our business."
Both store names will remain and no immediate leadership or staffing changes were planned.
Pierce remains a partner within the namesake John Elway Dealership Group, owned by the hall-of-famer quarterback.
What they’re saying: “This is a long-term commitment where our priority is continuity for employees and customers, and delivering an exceptional Lexus ownership experience from day one,” Pierce said in a statement.
Bottom line: Lexus remains a lucrative, sought-after franchise. And stepping into two luxury places cemented on a foundation that underlines that premium customer experience is a nice catch.
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
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