September 25, 2013

Lancaster Auto Dealership Sold

The Norm Wagner auto dealership in Lancaster has been sold to a Westwood-based chain of automobile dealerships.

The buyer, Prime Motor Group, closed the deal on the business last week, according to David Rosenberg, president of Prime. The purchase price for the Toyota and Scion dealership, located on the eastbound side of Route 2 just east of Interstate 190, was not disclosed. The transaction comes six months after the death of the dealership's owner, Norman Wagner.

Rosenberg said the business had been owned by Wagner's widow, Katherine, and his financial partner.

Prime owns auto dealerships in three New England states for various makes of cars. This is the company's fifth Toyota franchise and third for Scion, which is a Toyota brand. The deal represents Prime's entry into the Central Massachusetts market.

"We have a great relationship with the manufacturer," said Rosenberg, who added that Toyota had to sign off on the deal as well.

Rosenberg said Prime's presence throughout Eastern Massachusetts, New Hampshire and Maine will help boost inventory in Lancaster.

"In the car business, there are very few economies of scale," he said. "With our five (Toyota) stores, we can be a lot more efficient with our inventories than the average dealership can be."

Rosenberg also said he plans to add 15 jobs in Lancaster. The dealership already employs 35, he said, especially in sales. He expects inventory to grow to about 300 vehicles by the end of October.

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