Dealer group buys Ferrari Maserati Sydney
BY DANIEL GARDNER | 3rd Aug 2015
The purchase of the Ferrari Maserati Sydney business from EAI takes the family-owned and operated group's Maserati dealership total to two, following the acquisition of its first outlet in Artarmon last year.
Australian importer Ateco Group continues to own the outer central Sydney facility, which was opened in 2010 at a cost of $32 million, and will lease the premises to the business' new owner as part of the agreement.
The site will continue to house Ateco's offices central operations on the building's top level, while McCarroll's will occupy the dealership section of the building on street level.
In a statement, McCarroll's Automotive Group dealer principle Simon McCarroll said the company would strive to continue the success of the dealership under it new ownership.
“Ferrari Maserati Sydney has done a remarkable job with Maserati over the past five years,” he said. “It has combined sales growth with exceptional levels of customer service in a superb facility.
“We plan to build on this expertise and, combined with our North Shore Maserati business, bring the exclusive Maserati experience to a wider audience in Sydney and across New South Wales.
“For our family company it is a real honour to be the sole representative of this legendary company in Australia’s largest city.”With the recent arrival of two significant Maserati models, the Italian car-maker is enjoying a resurgent period in Australia, with local sales up about 200 per cent thanks to a warm reception of the new Quattroporte and Ghibli luxury sedans.
That growth is expected to continue when the vital Levante SUV touches down in Australia next year, to do battle in the competitive but potentially lucrative luxury large SUV segment.
Despite the marked increase in local sales, Maserati is sticking to its annual global sales cap of 75,000, which in turn limits Australian allocation to 1500 units from next year.
Maserati Australia chief operating officer Glen Sealey repeated Mr McCarroll's optimism for the deal, explaining the sale of Ferrari Maserati Sydney would ensure ongoing investment in the Maserati brand, enabling its local growth to continue.
“The purchase of Ferrari Maserati Sydney by the McCarroll’s Automotive Group is part of our national plan to lift investment in Maserati at the retail level so as to ensure that the quality of exclusive customer service enjoyed by Maserati owners is enhanced at the same time as sales grow,” he said.
As part of the deal, McCarroll's also acquired its first Ferrari franchise and will retail the prancing horse badged range alongside the full Maserati line-up at the dealership as per the arrangement under EAI.
In a statement, Ferrari Australia CEO Herbert Appleroth said the sale of Ferrari Maserati Sydney to the McCarroll Group was an important part of the brand's expansion in Australia.
“We are extremely happy to welcome the McCarroll family to the Ferrari family,” he said. “As proven throughout the globe, and particularly in Australia, our best dealerships are those owned and operated by family-based entrepreneurs.
“These passionate entrepreneurs live and breathe our brand on a day to day basis. Their personal approach is greatly appreciated by our clients who are, in the majority, entrepreneurs in their own right.
“The McCarroll family is another welcome addition to this Ferrari family-based approach. The McCarrolls have built a reputation for customer service and their support of their local community and we are sure that the McCarroll Family will make a wonderful contribution to the Ferrari Family.”McCarroll's Group has been a significant presence in the New South Wales automotive retail industry, and has acquired franchises for a number of global brands since the company was formed in 1978.
Its outlets include the full range of Fiat Chrysler Automobiles (FCA) marques Alfa Romeo, Chrysler, Fiat and Jeep, as well as Citroen, Hyundai, Lexus, Renault, Toyota, Volkswagen and Volvo..
