Dealership group UpAuto has bought Easthill Volkswagen in Walkerton, Ont. because it continues to develop in non-metro markets throughout the province.
The Stratford, Ont.-based firm stated Jan. 9 that the dealership, which has operated within the city about 150 kilometres northwest of Toronto for greater than 60 years, will grow to be its fifth new-car location.
CEO Michael Carmichael stated UpAuto’s buy of its first Volkswagen retailer comes at an “important inflection point for the industry,” as autos go electrical and the German automaker rolls out its electrified ID household.
“With Volkswagen’s bold introduction of electric vehicles, we’ll be providing the necessary investments required to expand our facilities and infrastructure and seize the opportunity to address the increasing demand for electric vehicles,” he stated in a launch.
Easthill Volkswagen was beforehand owned by the Plaza Auto Group, primarily based in Toronto.
Financial phrases of the deal weren’t disclosed.
The Volkswagen retailer will be part of UpAuto’s current portfolio of 4 new-car dealerships, which embody Stratford Nissan, Stratford Subaru, St. Marys Buick GMC, and Hanover Honda, a location it acquired in September. The firm additionally operates a used-car retailer in Stratford.
Source: canada.autonews.com
