Folsom Lake Chrysler Jeep Ram Dodge Dealership Sold Back to Original Owners

Fifth Wave Automotive Group built the dealership in 2001 and sold it in 2010.

Fifth Wave Automotive closed on Folsom Lake Chrysler Dodge Jeep Ram in Folsom, CA, on April 3. Pictured, left to right, are Steve Corle, director of Tim Lamb Group; Vince Bloom, general manager of Folsom Lake Chrysler Dodge Jeep Ram; and Carlo Hidalgo, president of Fifth Wave Automotive Group.

Folsom Lake Chrysler Dodge Jeep Ram in Folsom, CA, has been sold back to its original owner, Fifth Wave Automotive Group, by Victory Automotive Group, announced Steve Corle, director of the Plains Region for the Tim Lamb Group, headquartered in Columbus, OH, which brokered the sale.

Carlos Hidalgo, president of Fifth Wave, built the dealership in 2001 and sold it in 2010 to York Capital, which then sold the property to Victory Automotive Group. Hidalgo is excited to have the dealership back in his family after 14 years. The dealership, which will keep its name, Folsom Lake Chrysler Dodge Jeep Ram, is located at 12545 Folsom Blvd.

“I built Folsom Lake CDJR from the ground up back in 2001. It was my first dealership, and I was sad to sell it, but the timing was right,” Hidalgo said.  “When Steve Corle with the Tim Lamb Group reached out with this opportunity, I knew I had to jump on it.  I have always liked the location and I know that the Bay area has become a truck market electrifying the rest of the world." 

Staffing will include a mixture of current Victory Automotive employees as well as Fifth Wave employees, some of whom have been on staff since 2001.

Hidalgo said the dealership will be expanding its wholesale parts business, adding more counter personnel and delivery vans.

Folsom Lake CDJR will also undergo a series of renovations to enlarge the 52,000-square-foot space by an extra 9,000 square feet. The new space will allow for additional service stalls, and a new Jeep showroom on the property. Hidalgo said those renovations will begin in about a year.

“There are a lot of unique characteristics of the building, and I think it will be fun to play with the architecture to create an updated design that will fit all of our growing inventory,” stated Hidalgo.

Fifth Wave Automotive currently owns Stockton Hyundai in Stockton, CA, and San Leandro Chrysler Dodge Jeep Ram in Leandro, CA, where they are an excellent performer with the Chrysler Dodge Jeep Ram brands.  

“I was really looking for a store that would allow me to concentrate on trucks, and I believe I found it," Hidalgo said. "I look forward to growing the brand even further, offering a bigger variety of vehicles, and concentrating more on trucks. This store was ranked No. 1 in volume sales for seven years in a row when I previously owned it, and my goal is to accomplish that again."

Hidalgo praised Corle for his role in facilitating the sale.

“I can’t say enough about Steve Corle!" Hidalgo said. "He had done his research before he reached out to present me with the opportunity to purchase the Folsom Lake Chrysler store. He was extremely knowledgeable about the brand and was on top of the negotiations between me and Victory Automotive Group. We closed in about 45 days, and if it wasn’t for Steve, I don’t think that would have been possible."

Fifth Wave is a family-run company excited to come back to the neighborhoods surrounding Folsom. Folsom Lake CDJR will once again work with local organizations and initiatives to support and give back to the community.

Victory Automotive Group is a family-owned company, founded more than 25 years ago by Jeffrey Cappo, headquartered in Canton, MI. Cappo now works alongside his sons Eric and Michael, who are involved in the daily operations of their 50+ locations, in 11 states, including Ohio, Michigan, California, Massachusetts, Florida, Texas, Indiana, Tennessee, West Virginia, North Carolina and Illinois, representing 14 automotive brands.

“Victory Automotive Group and Fifth Wave both had processes in place to handle buying and selling. Each team worked hard to ensure a smooth transaction. I would like to thank Victory Automotive Group for their continued trust in the Tim Lamb Group, and I wish Carlos Hidalgo and the Fifth Wave Group much success with their new dealership,” said Corle.

Abby Andrews

Abby Andrews is the editor and regular columnist of Autobody News.

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