Park Place Dealerships Breaks Ground on New Porsche Dealership and Expanded Volvo Store
Park Place Dealerships, a part of Asbury Automotive Group, Inc. (NYSE:ABG), broke ground today on a new Porsche dealership and an expanded Volvo facility on Lemmon Avenue in Dallas. The project represents a significant investment in the client experience and the future of luxury automotive retail in North Texas.
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From left to right: Kendrick Lathum, VP National Industrial Market Leader, Brinkmann Construction; Dave Kurtz, VP Area South/Central, Porsche Cars North America; Dan Clara, Chief Operating Officer, Asbury Auto; Jesse Moreno, Mayor Pro Tem, City of Dallas; Matt Woolsey, Area Vice President, Park Place Dealerships; Steve Klipstein, Head of Network for Volvo Southern Region, Volvo
Park Place Dealerships purchased 15 acres in December 2024 and plans to build a state-of-the-art Porsche dealership to be completed in 2027 as well as construct a Volvo service center adjacent to the existing Volvo dealership.
"We believe that these projects allow us to elevate the experience for both Porsche and Volvo clients in a meaningful way," shared David Hult, President and Chief Executive Officer of Asbury. "The new Porsche dealership is expected to be one of the premier Porsche dealerships in the country, with the ability to serve clients at the highest level. At the same time, bringing the Volvo service center onto the property adds a level of convenience our clients truly value, creating a more seamless, efficient experience from the moment a client arrives onsite."
The Volvo dealership has been under renovation for the past eight months and is expected to be completed in early 2027. The expanded sales facility will feature a new exterior and interior with a sleek new showroom and a client lounge that will be the living room of the dealership that offers a relaxing, modern space with comfortable seating, a self-serve coffee bar, and room for conversations with Park Place sales and service advisors.
A new service facility will be added onsite for the Volvo dealership, to handle service for all Volvo models.
Park Place Porsche plans to move from its existing dealership on Lemmon Avenue across the street to 6000 Lemmon Avenue next year.
About Park Place Dealerships
Park Place Dealerships was founded in 1987 and employs more than 1,400 members. Park Place Dealership operates three collision centers, an auto auction, and nine full-service dealerships representing luxury brands including Lexus, Mercedes-Benz, Porsche, Volvo, Land Rover, Acura, and Sprinter Vans. Park Place is a part of Asbury Automotive Group, Inc., a Fortune 500 company headquartered in Atlanta, GA. Asbury is one of the largest automotive retailers in the U.S. For more information, visit parkplace.com.
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. (NYSE:ABG), a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury's constant North Star. As of December 31, 2025, Asbury operated 171 new vehicle dealerships, consisting of 223 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 39 collision repair centers. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America's Fastest Growing Companies 2024 by the Financial Times, one of the World's Most Trustworthy Companies 2024 and 2025 by Newsweek, and one of America's Most Successful Small-Cap Companies by Forbes for 2026.
For additional information, visit www.asburyauto.com.
Forward-Looking Statements
This press release contains ‘forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions regarding the successful completion of the major renovations and new facilities, the Park Place Porsche relocation, and the expected benefits of the enhancements and buildings.
The following are some but not all of the factors that could cause actual results or events to differ materially from those anticipated, including: risks related to permitting and construction delays; our failure to realize the benefits expected from the renovations and new facilities and anticipate our guest's expectations of tomorrow; disruption of ongoing business operations due to the construction activities; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2025 and subsequent filings.
These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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Media Contact:
Morgan Irwin
Head of Corporate Communications
mirwin@asburyauto.com
678-537-6593