Hendrick Automotive Group, one of the largest dealership groups in the U.S., will formally open a new Volkswagen store in Frisco on Friday as it strives for a greater presence in the Dallas area.
The group, based in Charlotte, N.C., has owned Honda of McKinney for decades and plans to rename it to include Hendrick in the name.
In addition, the group has purchased a stake in Lewisville Volkswagen, which will be called Hendrick Volkswagen Lewisville.
Beck Automotive Group, former owners of Lewisville Volkswagen, will be a partner with Hendrick in the Frisco and Lewisville dealerships.
“Texas is a terrific place to live and do business,” said Rick Hendrick, chairman of Hendrick Automotive Group and owner of NASCAR competitor Hendrick Motorsports. “Demand for Volkswagen products in North Texas is very high, and we feel these two dealerships are perfectly positioned to serve a rapidly expanding customer base.”
The purchases by Hendrick, the largest privately owned auto group in the U.S., are the second recent area acquisitions by a big player.
Earlier this year, Berkshire Hathaway Automotive — formed from investor Warren Buffett’s purchase of the Van Tuyl Group — bought Frank Kent Honda in Fort Worth.
“I think a lot of [auto] groups are looking down here,” said Lee Chapman, president of the Dallas-Fort Worth Metropolitan New Car Dealers Association. “The metro area is an attractive market for anyone looking for a dealership and will be for some time.”
Besides the two Volkswagen dealerships, Hendrick is purchasing 110 acres of land in McKinney for an undisclosed purpose, the company said.
The new dealership in Frisco, which has been operating for several weeks but will mark its grand opening on Friday, is the largest single free-standing VW dealership in the U.S., a Hendrick spokesman said.
The 63,000-square-foot facility sits on 14 acres in the 5000 block of State Highway 121 in Frisco.