San Jose dealer buys Fresno auto group, four dealerships

Kristin

Non permanent signage on Blackstone Avenue in Fresno demonstrates the latest acquisition of Michael Automotive Group and its 4 dealerships. Photograph by Edward Smith

A longtime Fresno car vendor has adjusted names and modified palms.

San Jose-based American Motors Team ordered Michael Chevrolet, Michael Toyota, Michael Cadillac and Michael Volkswagen at the beginning of June.

Conditions of the offer had been not disclosed.

The 4 dealerships are now known as Blackstone Chevrolet, Blackstone Toyota, Blackstone Cadillac and Blackstone Volkswagen.

Stephen Cornelius, president of American Motors, mentioned soon after the achievement of their Toyota dealership in Lancaster and Palmdale, he started hunting at related markets.

Knowing what Cornelius was looking for, a person of his brokers took see of the Michael Automotive Group at Blackstone and Bullard avenues.

Cornelius said opening in Fresno is very beneficial price tag-smart in comparison to San Jose. The city was 1 of the couple of in the point out that experienced constructive population progress and in conditions of profits, Fresno rated among the the best five in the nation for progress.

“Fresno is an attractive market place,” claimed Cornelius. “It’s not a modest city — with about a million folks — but it has that little city really feel.”

Cornelius looks for dealerships with chances for advancement. He takes advantage of technologies to guide his inventory purchases.

The top rated merchants in the marketplace get that way from recognizing what cars and trucks folks are purchasing and how much they are spending, he said.

Trucks are unloading new stock at the dealership now, Cornelius claimed. Becoming a brand-new dealership, they get a “special acquisition” of vehicles to get them started out — adding about 25% more inventory than the existing degree.

Cornelius also operates Stevens Creek Toyota and Stevens Creek Chevrolet in San Jose. He also operates a classic automobile enterprise identified as American Motors Personalized and Classics selling muscle autos and European sports activities cars.

He began the enterprise immediately after his possess like for typical cars.

“Sometimes your hobbies turn into your organization,” Cornelius reported.

Michael Automotive Team has been in organization in Fresno for 37 several years. It was owned by Michael Rosvold.

Rosvold resolved he experienced required to retire, according to a press launch from Pinnacle Mergers and Acquisitions — the consulting firm made use of to broker the sale on behalf of Rosvold. The dealership had been detailed for quite a few months, the release mentioned,  and then obtained a whole-price provide following listing with Pinnacle.

Rosvold will continue to be on as advisor right before he retires.

Cornelius claimed he’s actually happy to be in Fresno. Escalating up in Sacramento, Fresno feels pretty similar.

“Elevate the staff practical experience, elevate the purchaser experience and give back to the community and that just is effective,” Cornelius explained.

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