Sojitz to Expand Automobile Sales in the USA
-Shares of BMW and MINI Dealerships Acquired-
Apr. 30, 2014
Sojitz Corporation, acting through Sojitz Corporation of America, acquired 100% of the issued shares of Import Motors, Inc., an authorized dealership of BMW and MINI brand automobiles located in Concord, California, USA.
Since its establishment in 1974, Import Motors has been a prominent dealership with a solid customer base built through sales of BMW brand automobiles. In 2004, Import Motors became an authorized dealership of MINI brand automobiles.
Sojitz acquired 100% of the management rights of Weatherford Motors, Inc., an authorized BMW brand automobile dealership, currently located in Berkeley, California, in 1987, and since then has accumulated extensive sales experience and management expertise. Import Motors is located near Weatherford Motors and was a competitor in some areas.
With the acquisition of the Import Motors shares, Sojitz has established a two-location business base in the San Francisco Bay area and will seek to increase management efficiency and expand sales and services. Premium brand cars account for a higher percentage of the market in the San Francisco Bay area than in other regions, and it is a promising market expected to grow even further in the future.
Based on its many years of experience with Weatherford, Sojitz will reinforce its retail business in the USA automobile market, which is expected to undergo continuous growth over the medium to long term, and will take advantage of future growth opportunities.
Map of California
Import Motors Dealerships
Overview of Import Motors, Inc.
|Location||Concord, California, USA|
|No. of employees||Approximately 160|
|Main business||Retail sale of the BMW and MINI brand automobiles|
|2013 sales results||Approximately 2,500 vehicles|
Overview of Weatherford Motors, Inc.
|Acquisition of management rights||1987 (acquired by former Nissho Iwai Corporation)|
|Location||Berkeley, California, USA|
|No. of employees||Approximately 140|
|Main business||Retail sale of the BMW brand automobiles|
|2013 sales results||Approximately 2,000 vehicles|