3 domestic-brand dealerships change hands in single-store deals

Three domestic-brand stores changed hands in August, with two transactions involving dealers who bought their first franchised dealerships.

Here’s a quick look at the deals.

Third dealership

Abraham Razick acquired his third dealership Aug. 26 when he bought McCoy & Mills Ford in Fullerton, Calif., north of Anaheim, from retiring dealer Jim Miller.

Razick, an Automotive News 40 Under 40 honoree in 2016, renamed the dealership Fullerton Ford Orange County.

Razick also owns Hyundai of Yuma and Kia of Yuma, in Arizona, with partner Adli Kakish. Razick is the sole owner of the Ford dealership.

“I think it’s a great opportunity to be able to own a Ford store now with electrification and their investment with electrification,” Razick told Automotive News. “Being in Orange County, it’s just a big deal out here.”

Razick has begun renovating the Ford dealership and expects an image-compliant remodel to be completed in 15 months.

Razick, a Marine veteran, has been an advocate for veterans with his two Yuma dealerships by helping with job placement or putting veterans through a mechanic internship.

“My objective is to be a beacon of light for the veterans,” he said. “Because a lot of us veterans, we get out of the military and we don’t really know what to do. When I got out of the military when I was 20 years old, the automotive industry was my blessing. I just want to show them that, ‘Hey, it’s possible.’ ”

Razick also offers free oil changes to veterans, regardless of where they purchased their vehicle, at the Arizona dealerships.

“I plan on eventually implementing that here,” Razick said of the Ford dealership.

Most Related Links :
Business News Governmental News Finance News

Source link

Back to top button