Fox Motors Group LLC has acquired Ann Arbor Automotive Inc. and its Acura, Hyundai and Nissan dealerships
The Grand Rapids-based dealership group, which is owned by Dan DeVos, announced the deal Friday. Terms of the purchase were not disclosed.
“Ann Arbor has always been a target market due to the stability of the area,” said Diane Maher, president and chief operating officer of Fox Motors. “We do well in those size markets.”
The dealerships will be renamed Fox Ann Arbor Acura, Fox Ann Arbor Hyundai and Fox Ann Arbor Nissan. Maher said the group plans to spend “several hundreds of thousands of dollars” in the short term renovating the dealerships, especially Hyundai, which needs a new showroom.
Andrew Serum of Fox Motors will be appointed to general manager of the three dealerships, Maher said. Staffing will otherwise remain the same.
“I know that Ann Arbor Automotive is in good hands and that the customers will be well taken care of by the Fox Motors team,” Doug Fox, former owner of the dealerships, said in a written statement.
Ann Arbor Automotive also operated a Kia dealership, Maher said, but it was not part of the deal with Fox Motors.
Each location will continue with the same full-service offerings, Maher said. The group is hoping to expand market share in used car sales, bringing the Ann Arbor dealerships up to the group’s average of an even split of new to used car sales.
Those franchises have been well represented by (Doug) Fox,” Maher said. “He has a good reputation, and we’ll continue on that same path.”
Fox Motors started in 2000. It offers 40 automotive and motorsport brands across 30 locations across Michigan and in Chicago.