Roger Penske first acquired Longo Toyota in El Monte in 1985, which is when Penske Motor Group was founded. Dominic Longo had established Longo Toyota in 1967. Greg Penske, son of Roger Penske, began working at the dealership in 1988 as new car sales manager. Greg is currently chairman and CEO of Penske Corporation’s Penske Motor Group subsidiary.
Longo Toyota of Prosper, Texas, joined the Penske Motor Group most recently in 2017.
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Grieco Toyota’s owner?
At the age of 26, Mike Grieco Jr. was given control of a modest auto dealership group. Over the following 13 years, he contributed to the development of a multi-store, multi-state empire.
Grieco, who is 39 years old, is the CEO of the family-owned Metro Motor Group in New England and Grieco Automotive Group in Florida. These organizations, which have a combined 11 dealerships in Rhode Island, Massachusetts, and Florida, represent 14 franchises.
Grieco, the eldest of three sons who all work for the company his father founded in 1996, claims that client satisfaction is the cornerstone of every dealership.
Grieco replied, “You have to look after the clients. “It’s not a difficult industry. If you have good personnel that are committed to making consumers happy and pleased, they will keep coming back and your firm will be successful.”
Grieco started his career selling Hondas at Metro Honda in Johnston, Rhode Island, a dealership his father established with a knowledgeable minority partner who also gave the younger Grieco a crash course in the automotive industry. As his father acquired additional dealerships in the region and in Florida, he quickly advanced to the position of sales manager, worked as a used-car manager, and “dabbled in service and parts.” Grieco took over as the group of dealerships’ COO in 2000, and he succeeded his father as CEO last year.
Grieco said he finds it incomprehensible why some dealers spend hundreds of dollars luring clients into showrooms only to lose them over a few dollars’ worth of goodwill. “The company’s fundamentals remain mostly unchanged. The business starts when you sell an automobile to the consumer. You must maintain their interest in your establishment “said he. “These days, no one truly manufactures a bad car.”
Grieco claims that one way he does this is by maintaining his name in the advertising of each of his family’s dealerships, despite the fact that he acknowledged that it becomes more difficult as the firm grows.
He stated: “I’m Mike Grieco is the tagline we all use. You’ll save hundreds with us. We promise it.”
Toyota of Bellevue’s owner is who?
The Broadus family has a long history of achievement in the auto industry, particularly with Toyota. For more than 44 years, the Broadus family has owned and run Michael’s Toyota. Bruce Broadus’ administration of Michael’s Toyota was replaced by David Broadus, the company’s president and owner. Then, in 1997, David built Magic Toyota in Edmonds, Washington, which is north of the Seattle metropolitan area. In 2017, he also added Michaels Subaru of Bellevue to the Toyota location. Award-winning dealerships for retail sales and client satisfaction include Magic and Michaels.
Operating partners with Broadus Erik Paulson and Peter Chung will continue to manage the day-to-day operations of Michaels and Magic, respectively. Lithia will continue to operate as Michaels, a well-known name in the market, while Magic will be renamed as Swickard Toyota. Within two miles of the Swickard Toyota in Edmonds, Washington that has been rebranded, Swickard will open a Porsche dealership and a BMW dealership. In the near future, Lithia will begin construction on a brand-new, cutting-edge Subaru dealership on the former Michaels location.
For Broadus, Mark Johnson and Mark Topping of MD Johnson, Inc. handled the transaction management. Broadus had legal assistance from Cliff Spencer Esq. of Lane Powell during the purchase. Jeff Swickard and MD Johnson, Inc. have collaborated on many projects over the past seven years, and Swickard has sold multiple dealerships, including Mercedes Benz of Wilsonville (Oregon), Jaguar Land Rover in downtown San Francisco, and Land Rover of Redwood City in the Bay Area. Along with selling Audi of Oakland, the business also sold Swickard Mercedes Benz of Seattle and the Lexus dealership in Fremont, California. Roger Jobs’ sale of Roger Jobs Porsche Audi VW to Swickard in Bellingham, Washington, was also assisted by MD Johnson Inc. Additionally, Mark Topping and Mark Johnson have been counseling Broadus and Paulson on their purchases and sells for the previous ten years.
When Tim Ciasulli was represented by Mark Johnson and MD Johnson Inc. earlier this year in the sale of one of the biggest Honda dealerships in the US, Planet Honda, based in New Jersey, Lithia worked with them on a number of transactions.
For the past 20 years, MD Johnson, Inc. has offered buy-sell, strategic planning, and financial advising services to car dealers. Through their wholly owned real estate subsidiary, MDJ Realty Inc., the firm counsels dealers, both public and private, on the purchase, sale, analysis, succession, and value of vehicle dealerships as well as dealership real estate. The company has advised on multiple billion dollar deals and supports clients’ buy-sell activities countrywide. The company has also done a lot of work serving as a court-appointed receiver’s advisor.
Why is the Toyota stock so low?
Inventory Deficits Inventory is low, but demand is steady despite microprocessor shortages and the COVID-19 outbreak that stopped manufacturing last year. This indicates that some retailers are charging more than the manufacturer’s suggested retail price in order to profit on the market’s demand (MSRP).
How many vehicles sell Longo Toyota annually?
Most significantly, though, it sells a ton of cars. Longo Toyota, a member of the Penske Group, is spread out across 50 acres and sells—and I’m not exaggerating—somewhere between 25,000 and 30,000 automobiles annually.
Grieco Automotive Group is owned by who?
Michael Grieco Sr. started handing over management of day-to-day operations to his son, Michael Grieco Jr., who is now one of the nation’s youngest CEOs in the automotive industry.
Who in Florida oversees auto dealerships?
THE LEMON LAW IN FLORIDA The Florida Office of the Attorney General is responsible for this statute. It is applicable to NEW or demonstration cars that are bought or long-term leased in Florida.
THE FRANCHISE ACT OF FLORIDA Florida Statutes 320.60–320.70 contain a description of the Florida franchise act.
INQUIRE ABOUT AN ACTIVE LICENSEE. The public can access a list of currently active licensees on the Florida Department of Highway Safety and Motor Vehicles’ website, which also offers a searchable database of licensed new and used dealers, wholesalers, and manufacturers in the state.
DEALER GRIEVANCES. The county office in charge of the dealership is where complaints against Florida dealers should be submitted to the Department of Highway Safety and Motor Vehicles.
HOTLINE FOR CONSUMER SERVICES. Contact the toll-free Consumer Services Hotline at 800-HELP-FLA (800) 435-7352 or (850) 410-3800 for general inquiries or consumer program-related concerns.
HOTLINE FOR ATTORNEY GENERAL FRAUD. The fraud hotline for the Attorney General is (866) 966-7226 or (850) 414-3990.
Grieco Ford Fort Lauderdale is whose property?
By the time you drive your new Ford or used car off the lot, we want to have given you the assurance and clarity that you made the appropriate dealership choice. We strive to assist not just our clients, but also the community at large, which is why our founder’s wife, Cathy Grieco, has spearheaded countless charitable initiatives. Through her persistent efforts leading fundraising campaigns with organizations like St. Jude Children’s Research Hospital and other community activities, she has raised over $1 million.
We can confidently claim to be automobile experts because of our sincere start in the automotive sector in 1975. Our dedication to the sector has changed significantly over the years, most notably due to our attitude toward environmental conscience. In our green, environmentally friendly collision shops here in Fort Lauderdale, we try to do our share to save unnecessary waste and energy because we are aware of the impact that cars have on the environment.
Visit us at 1333 North Federal Highway Fort Lauderdale, FL to learn why our clients are so complimentary of our team and services. Set up a test drive in a brand-new Ford SUV or truck right away!
Absolute correctness cannot be guaranteed, despite the fact that every effort has been taken to ensure the information on this site is accurate. This website and the content on it are provided to users “as is” and without any express or implied warranties of any kind. Prior sales are permitted on all vehicles. relevant tax, title, and license fees are not included in the price. The vehicles displayed at various locations are not now in our inventory (Not in Stock), but they can be delivered to you at our location within a fair amount of time from the time of your request, not to exceed one week.
Has Magic Toyota undergone a name change?
On Monday, David Broadus sold Magic Toyota in Edmonds, Washington, to Swickard Auto Group. The shop is now known as Swickard Toyota.
For Toyota, who makes the chips?
One of the main suppliers of automotive semiconductors to Toyota Motor Corp., Denso Corp., may think about spinning off its chip business, which has annual sales of about 420 billion yen ($3.1 billion), the company’s chief technology officer said on Friday.
Denso, the second-largest auto parts manufacturer in the world, has discreetly established a position in the automotive semiconductor market. Denso is currently the fifth-largest provider of automotive chips in the world based on sales, with semiconductor-related capital expenditures reaching around 160 billion yen during the previous three years.
Why is Toyota closing its doors?
Toyota shut down just one day after reducing production from April to June due to the COVID-19 pandemic, a global semiconductor scarcity, and increased supply chain insecurity. Toyota reduced its April global output by 17% to 750,000 vehicles.