04-16-2015, 11:01 AM | #1 |
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New Fiat/Alfa Romeo store to open in Waco, TX
News reports indicate that Allen Samuels CJDRF will be splitting off their Fiat franchise and building a new dealership to house the Fiat/Alfa Romeo franchise. For the full report - click here The 21,000 square foot facility on five acres is expected to cost about $6 Million inclusive of real estate.
I don't know the market or how space constrained the existing Allen Samuels CJDR location may be, but to me a $6 Million investment into a Fiat/Alfa franchise seems like a curious investment. I doubt that Allen Samuels has been getting any pressure from Auburn Hills because it wouldn't make sense, in my opinion, to pressure a dealer to commit to a single point Fiat/Alfa store given the franchise's historic sales volume and prospects for the future. Regardless of my opinion, Allen Samuels is obviously a successful operation and they must see a potential ROI that eludes me. |
04-16-2015, 12:51 PM | #2 |
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SUGGEST: Build the building with a ZIPPER on the front to convert to a winner as soon as one becomes available. 2 and 1/2 acres will be for used cars right now.
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04-16-2015, 11:07 PM | #3 | |
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Quote:
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04-17-2015, 09:47 AM | #4 | ||
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Quote:
The fact that Samuels was allowed to add Fiat to his existing CJDR facility may have been part of a term agreement. Perhaps Samuel agreed to build a stand alone Fiat/Alfa point at a later date. Quote:
I remember the same thing happened to some of the dealers who sold to the public dealer groups when the Blue Sky value of stores was nearing the stratosphere and then bought them back when the market tanked. (I think "Dealin Doug Moreland and the Lithia Group are an example of this.) |
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