Group 1 Automotive announced Monday that the company has gained new Toyota sales territory in São Paulo, Brazil and will also relocate one of its top Honda dealerships in the area.
Group 1 built its newly opened T-Drive Toyota Alphaville dealership after purchasing selected assets of the Toyota Alpha Trevo Automoveis store in the western São Paulo suburb of Alphaville.
The new store is Group 1’s fourth Toyota dealership in Brazil and is expected to generate $45 million in annualized revenues.
“Toyota is the largest brand partner for our company overall and we are excited to significantly expand our relationship in Brazil,” Group 1 president and chief executive officer Earl Hesterberg said in a news release.
“We see great growth potential for our existing stores and the new opportunities associated with this acquisition will provide a large Toyota operating footprint for us throughout Brazil's largest city," Hesterberg continued.
Group 1 was recently awarded several additional new Toyota points of representation, according to the company.
Among the four dealerships in the greater São Paulo metropolitan area operated by Group 1, the company said it plans to relocate its Honda dealership located in the suburb of São Bernardo do Campo to expand substantially.
“We have enjoyed great success with the Honda brand in Brazil, even during the severe market downturn,” Hesterberg explained. “The relocation of Honda São Bernardo do Campo to a much larger facility with freeway visibility will likely enable us to double our revenue for this dealership in a fairly short period of time.”
Group 1 operates a total of 17 dealerships in Brazil, which includes BMW, Honda, Jaguar, Land Rover, MINI, Mercedes-Benz and Toyota.