The dealerships are located in Albuquerque and Santa Fe. These stores are the only Lexus franchises in the state of New Mexico and are expected to generate approximately $90 million in annualized revenues.
"We are pleased to broaden our dealership footprint in the fast-growing New Mexico market and expand our long-standing partnership with Lexus," said Earl J. Hesterberg, Group 1's president and chief executive officer.
The addition of these stores increases Group 1's total representation in New Mexico to nine automotive franchises, which includes the following luxury brands:
- BMW / MINI;
- BMW Mottorad (motorcycles);
- Lexus; and
- Jaguar / Land Rover.