Asbury Automotive Group Inc. said today it will open two free-standing used-vehicle stores under the “Q auto” brand this year, starting in Tampa in June and in Jacksonville this fall.
Asbury's President and CEO Craig Monaghan said Asbury has grown its used-vehicle unit sales more than 55 percent over the past three years and used-vehicle gross profit by almost 35 percent.
Asbury, based in Duluth, Ga., estimates that incremental 2014 capital commitments related to the initiative could be up to $25 million.
Asbury currently operates 80 retail auto stores, encompassing 101 franchises for the sale and servicing of 29 different brands of American, European and Asian automobiles.
The Daily Record reported Friday that Q Automotive Jacksonville will operate at Asbury’s Coggin Toyota at the Avenues property along Philips Highway after that dealership relocates to a new, larger site at Philips Highway and the Interstate 295 East Beltway.
The city is reviewing a building permit application for Q Auto Jacksonville at 10564 Philips Highway, the site of Toyota at the Avenues. Plans call for renovation of the existing buildings, improving the parking area and more work at a project cost of $721,829.
Coggin Toyota at the Avenues is building a new dealership at 11340 Philips Highway at a project cost of $5.2 million.
@MathisKb
(904) 356-2466