Tifton-based Prince Automotive Group has increased its share of Albany’s new vehicle sales market by acquiring Edwards Motors of Albany.
The deal, which enables Prince to sell Buicks and Cadillacs in addition to Chevrolets, becomes official today. On Tuesday, Prince Chevrolet of Albany – which acquired Wallace Chevrolet last year — began stocking its sales facility at 1001 S. Slappey Blvd. with new Buicks and Cadillacs.
Prince Automotive Group President John Prince said he expects his Albany dealership to be approved soon to sell new GMC products, giving it a clean sweep of local General Motors (GM) products locally.
“This deal is sort of in line with keeping with GM’s philosophy of unifying GM dealers’ stores,” Prince said. “They feel like markets such as Valdosta, Albany and Tifton don’t need two or three GM dealers.
“They feel as though one strong dealer is best because you provide better service to your customers, you have a larger inventory, and you can provide training for technicians and sales people more efficiently.”
Prince said the deal increases his company’s share of Albany’s new vehicle market to nearly 20 percent. Adding GMCs would increase Prince’s market share in Albany to about 25 percent, Prince said.
“This is basically what we did in Valdosta – we’re consolidating the market,” Prince said, adding that the Valdosta dealership sells all GM products.
Prince said that he expects four employees to transfer from Edwards to his company. The transaction does not include Edwards’ facility at 948 W. Oglethorpe Blvd., which closed Tuesday.
Based in Moultrie, Edwards is maintaining its Moultrie dealership, which sells all GM product lines.
Prince of Albany is managed by Buddy Carver.
Earlier this year, Prince acquired land on Ledo Road just south of the Grand Island Club that Prince says may be the dealership’s future home.
“If the economy is good for a year or two, we might consider going over there,” he said. “It was good investment opportunity, but if $5 (per gallon) gasoline persists, I doubt we will. I’m going to look at it down the road.”