Swickard Auto Group Purchases John Elway’s Crown Toyota for $40M with TFS Loan

By: Sharjeel Sohaib

โ€ข 

Jan 20, 2023

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  • Swickard Auto Group has acquired John Elway’s Crown Toyota dealership in Southern California for $40 million from EP Properties.
  • The acquisition was financed by a $42.4 million loan from Toyota Financial Services (TFS).
  • The dealership occupies 22.8 acres and has three buildings with a total area of 171,903 square feet. It is located in Ontario, California, and was constructed in 1989.

Swickard Auto Group Acquires John Elway’s Crown Toyota

Another auto dealership in Southern California is being added to the portfolio of Swickard Auto Group.

According to Vizzda, the company paid $40 million for John Elway’s Crown Toyota from an EP Properties company. For the acquisition, Swickard obtained a $42.4 million loan from Toyota Financial Services.

The dealership occupies 22.8 acres and has three buildings totaling 171,903 square feet. In Ontario, California, at 1201 Kettering Drive and Jurupa Street’s northeastern intersection, it was constructed in 1989. According to records, the property was last sold in 2019 for $18 million.

Impact on the local market

Itโ€™s unclear how the acquisition of John Elway’s Crown Toyota by Swickard Auto Group will impact the local Southern California market. Yet, in general, when a dealership changes ownership, it can have an impact on the local market in several ways:

  • Competition: The acquisition may increase competition in the local market, as the new owners may have different business and pricing strategies than the previous owners.
  • Consumer Prices: The acquisition may also affect consumer prices, as the new owners may choose to adjust prices for vehicles and services to gain a competitive advantage.
  • Job market: The acquisition may also impact the local job market, as the new owners may choose to keep or let go of the current employees and hire new employees to support their business strategy.
  • Local economy: The acquisition may also impact the local economy, as the dealership generates revenue through the sales of vehicles and services and employs residents. A change in ownership could lead to changes in the dealership’s business practices, which could, in turn, affect the local economy.
  • Product and services: The acquisition may also affect the availability of specific products and services in the local market, as the new owners may choose to introduce new product lines or stop existing ones.

Background on John Elway’s Crown Toyota

John Elway’s Crown Toyota is a Toyota dealership located in the Inland Empire region of Southern California. It is named after John Elway, a former professional American football quarterback and current executive for the Denver Broncos of the National Football League (NFL).ย 

John Elway is also a well-known car dealership owner. He likely lent his name and reputation to the dealership to attract customers.

It needs to be clarified whether the dealership is owned by John Elway or uses his name as a brand. Still, it is likely a franchise dealership, meaning that it is owned and operated but sells Toyota vehicles and follows the guidelines of the Toyota Motor Corporation.

Background of Toyota Financial Services 

Toyota Financial Services (TFS) is the financial services arm of Toyota Motor Corporation, one of the largest automobile manufacturers in the world. TFS provides various financial services to customers, including retail and lease financing, as well as other financial products and services, such as extended service contracts and insurance. 

TFS also provides financing to Toyota and Lexus dealerships, supporting the sales of new and used vehicles.

TFS offers a range of financial products and services, including retail financing, leasing, and balloon financing, as well as insurance and extended service contracts. 

Wrap Up!

The Swickard Auto Group has acquired John Elway’s Crown Toyota dealership in Southern California for $40 million from EP Properties. The acquisition was financed by a $42.4 million loan from Toyota Financial Services (TFS). The dealership, which occupies 22.8 acres and has three buildings with a total area of 171,903 square feet, is located in Ontario, California, and was constructed in 1989.

2 Comments

  1. juana-gamez

    With this sake of John Ellways to this new company, itโ€™s evident that service quality is now terrible. I tried calling in for over 1,week and their phones donโ€™t work. I was trying to get an appointment to service my car, and finally left 5 messages with the Sakes Dept, just to be able to get my car serviced. Will be going elsewhere next time.

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