Bob Loquercio Auto buys Ford, Toyota and Lexus dealerships
April 21, 2023
Bob Loquercio Auto Group has expanded with the addition of three dealerships in Peoria, Ill.
CEO Bob Loquercio and his namesake group on April 5 purchased O’Brien Lexus of Peoria, O’Brien Toyota of Peoria and O’Brien Ford of Peoria from Joe O’Brien of O’Brien Auto Team, Loquercio confirmed to Automotive News.
The dealerships, in central Illinois, were renamed Peoria Toyota, Lexus of Peoria and Ford of Peoria. Loquercio said his brother, Anthony Loquercio, also purchased an undisclosed stake in the Peoria Ford store.
Bob Loquercio said the group’s first Lexus store will get updated, with construction expected to begin in December.
April’s acquisition made 14 franchised stores and one used-car store in Illinois and Indiana for the group, Bob Loquercio said. He said he had several other dealerships under consideration to purchase but didn’t share specifics.
“We’re in growth mode,” Loquercio said. “We’re looking to expand our footprint.”
The group is also in building mode. Loquercio said they have built about five dealerships in the last decade, including a Kia facility that opened in Michigan City, Ind., in june. In 2021, Loquercio Auto bought a Hyundai-Kia store in Michigan City from Scott Nielson.
Loquercio said that the deal included an agreement that he would rent the building for five years while building separate facilities for each brand. He said he expects the Hyundai building’s construction to be complete in 2025.
“I believe that new dealerships often reflect the experience we want our customers to have,” Loquercio said. “So, when you build a new store, you can design the customer waiting area and service departments in a manner that creates the best customer experience possible.”
Bob Loquercio in August purchased the former Goshen Hyundai and Goshen Buick-GMC stores in Indiana from Dzung Nguyen. The group plans to build a new Hyundai facility for that store, too.
Construction also is underway for two buildings that will go on the same property as the group’s Elgin Toyota store in Streamwood, Ill. Those buildings will be new homes for Hyundai and Genesis, which will relocate from a nearby single-point store, Loquercio said.
Bob Loquercio Auto of Streamwood ranks No. 91 on Automotive News’ most recent list of the top 150 dealership groups based in the US, retailing 9,629 new vehicles in 2022.