NewRoads buys MacIver store
NEWMARKET, ONT. – NewRoads Automotive Group has added MacIver Dodge to its growing portfolio of York Region dealerships.
The deal for the newly renamed NewRoads Chrysler closed on Mar. 1 and sees group president and CEO Michael Croxon take over from former owner Ian MacIver the prime location on Yonge Street in Newmarket, Ont.
Financial details were not shared.
FCA is not entirely new to Croxon, who maintains a minority interest in North York Chrysler, which occupies the same lot as his family’s original store, North York Chevrolet.
NewRoads also owns and operates NewRoads GM, NewRoads Kia, NewRoads Mazda and NewRoads Subaru.
MacIver Dodge sold 520 new and over 400 used vehicles in 2015.
“Obviously we see some upside in those numbers,” Croxon says of the growth forecast for the store.
The first order of business has been to install the “NewRoads way” into the existing culture, though that mostly starts with observing rather than dictating.
“First, we meet with everyone and talk about who we are, what we are, what our values are and what we would like to represent in our community as a company,” he says.
“Then we spend the first 30 to 60 days just observing how they go about their business as we appreciate the fact that there’s many different paths to success and ours is just one.”
Still, starting day 1, everyone got a nametag, as per NewRoads policy.
Rebranding is an ongoing task, as is some minor facility spruce ups. There will be new paint inside and out along with a reorganization of showroom space to place more emphasis on the vehicles.
The renovation budget won’t be huge on the leased facility as Croxon reveals he will be looking to relocate the store sometime in the next 10 years.
When asked about further growth for the dealership group as the industry trend of ownership consolidation continues, he says NewRoads has a “strategic” path in mind.
“Strategic to us typically means geographically strategic. We’re not looking at stores in Mississauga or the Niagara region or southwestern Ontario or eastern Ontario out to Kingston and Ottawa. But if it’s northern 905 or southern 705,” he says, referring to area codes for York Region and Barrie. “We appreciate it when those who are looking to sell consider us.”
There were no requirements to retail Fiat but that might be an opportunity in the future.