Stoneacre Motor Group assumed responsibility for the entire North East market area of Toyota after completing the acquisition of the Jardine Motor Group dealers in Durham and Sunderland.
The growing Thorne-based AM100 car retail group now represents Toyota in Stockton-on-Tees, Darlington, Northallerton, Newcastle, Gateshead, Durham and Sunderland, as well as Lexus dealers in Newcastle and Stockton-on -Tees.
Stoneacre’s most recent acquisition from Jardine follows the November 2020 addition of its old Newcastle Lexus franchise.
Over the past year, the group has also expanded its presence in the North East with the acquisition of Hodgson Newcastle in August 2020 and, more recently, that of franchisee Toyota, Lexus and Renault / Dacia RMB Motor Group, in last june. year.
Its latest acquisitions bring manufacturer representation to 29 franchises with 140 franchise locations in 64 branches.
Stoneacre thanked Jardine for her “full support” in achieving a smooth transfer of all staff, business property and assets.
Managing Director Shaun Foweather said, “Acquisitions like this are generally only possible with the full support of the relevant OEM partners and I would like to thank the senior team at Toyota and Lexus for the opportunities.
Foweather added, “As with the rest of the auto business, we faced many challenges through 2020 and 2021: having to deal with a major pandemic and finding ways to run our operations while ensuring a work environment. safe for our team and our visiting customers; dealing with electrification as we move from internal combustion engine to all electric vehicles; modify our internal processes to manage the increase in digital customer acceptance; and the examination of the representation of franchises which is being carried out by some manufacturers as a model agency concept.
“Despite this, our teams have been resourceful, supportive and diligent, which generated over £ 1 billion in revenue and record profits for our company in our last fiscal year.
“Toyota and Lexus have an incredible product line with incredible models that are expected to hit the market very soon, the latest acquisition will allow us to ensure we are delivering a large market share in the Northeast territory while delivering excellent on-site and digital experience for our customers.
“The newly acquired team were extremely excited to join the Stoneacre family and I want to welcome them all.”
Stoneacre said it remains vested and will discuss any franchise opportunity with groups of dealers, driver-owners, stakeholders, existing or potential franchise partners.
Franchise and Development Director Philip S Wade is keen to discuss potential future acquisitions in confidence. He can be contacted on 07767 331332 or [email protected]