There’s been an ownership change at Okanagan Dodge, which has the Kelowna dealership in more local hands.
Kot Auto Group announced today that it has officially acquired Okanagan Dodge from AutoCanada, adding to its empire in Kelowna that now includes five dealerships.
“We would like to thank the AutoCanada team for their strong community involvement in Kelowna over the past 20 years,” said Kot Auto Group president John Kot.
In a release, AutoCanada stated that the dealership retailed 262 new and 437 used light vehicles between Oct. 1, 2023, and Sept. 30, 2024, generating sales of $57.2 million.
“AutoCanada received $10 million in cash, excluding net working capital, with proceeds directed toward reducing the outstanding balance on the Company's revolving credit facility,” the release explained.
Kot said that the acquisition marks an exciting chapter for both Kot Auto Group and Okanagan Dodge, perhaps better known to some as Okanagan Ram Jeep Dodge Chrysler Fiat.
“We have always prioritized delivering value to our customers and making a positive impact in the communities we serve,” noted Kot.
“By bringing Okanagan Dodge into the fold, we are better positioned than ever to exceed expectations and continue shaping the future of automotive retail in the Okanagan Valley.”
Along with Okanagan Dodge, Kot Auto Group also owns Kelowna Hyundai, Kelowna Kia, Genesis Kelowna, Buy Direct Truck Centre and Penticton Nissan in the Okanagan.
Elsewhere, the group owns Maple Ridge Hyundai, Victoria Hyundai, Genesis Victoria, Woodgrove Chrysler in Nanaimo and Sunrise Ford in 100 Mile House.
