The dealership news roundup involves activities at Asbury Automotive Group, Victory Automotive Group and Fifth Wave Automotive Group.

According to a news release from Tim Lamb Group, the firm brokered the sale of Folsom Lake Chrysler Dodge Jeep Ram in Folsom, Calif., earlier this month back to its original owner, Fifth Wave Automotive Group.

Tim Lamb Group recapped that Fifth Wave president Carlos Hidalgo built the dealership in 2001, sold it in 2010 to York Capital, which then sold the property to Victory Automotive Group.

“I built Folsom Lake CDJR from the ground up back in 2001.  It was my first dealership, and I was sad to sell it, but the timing was right,” Hidalgo said in the news release.  “When Steve Corle with the Tim Lamb Group reached out with this opportunity, I knew I had to jump on it.  I have always liked the location and I know that the Bay area has become a truck market electrifying the rest of the world.”

The dealership will keep its name and staffing will include a mixture of current Victory Automotive employees as well as Fifth Wave employees, some of whom have been on staff since 2001.

Fifth Wave Automotive also owns Stockton Hyundai in Stockton, Calif., and San Leandro Chrysler Dodge Jeep Ram in Leandro, Calif.

“I was really looking for a store that would allow me to concentrate on trucks, and I believe I found it. I look forward to growing the brand even further, offering a bigger variety of vehicles, and concentrating more on trucks,” Hidalgo said. “This store was ranked No. 1 in volume sales for seven years in a row when I previously owned it, and my goal is to accomplish that again.”

Hidalgo plans to orchestrate a series of renovations during the next two years, expanding Folsom Lake CDJR by 9,000 square feet from its current 52,000 square-foot facility The new space will allow for additional service stalls and a new Jeep showroom on the property.

“There are a lot of unique characteristics of the building, and I think it will be fun to play with the architecture to create an updated design that will fit all of our growing inventory,” Hidalgo said.

Exec transition at Asbury

On Friday, Asbury announced that George Villasana, who currently is senior vice president, chief legal officer and secretary of the company, provided notice of his intention to retire after serving in that role for over 12 years.

Under the transition plan, Asbury said Villasana will continue to serve as in this role until June 30, and thereafter will serve as a special advisor to the company until his retirement on March 31.

The dealer group said Villasana announced his retirement to facilitate an orderly transition to his successor, who is expected to be announced following a comprehensive process to consider internal and external candidates.

“George has exhibited an unwavering commitment and dedication to Asbury and delivered exemplary service to Asbury. George has been instrumental in Asbury’s successful achievement of its transformational growth and other strategic objectives over the years. I am thankful that George has agreed to stay on as a special advisor through the first quarter of 2025,” Asbury president and chief executive officer David Hult in another news release.

Asbury chairman of the board Thomas Reddin added, “We are thankful to George for serving as the board’s trusted chief legal advisor over his 12 years of service. George’s integrity, experience and professionalism made him a very effective legal advisor to the company and the board.”

Reflecting on his upcoming retirement, Villasana said, “I am proud to have served as Asbury’s chief legal officer for over a decade. It has been rewarding to have contributed to Asbury’s growth and success during that time. I am honored and privileged to have led a stellar legal team and worked with the other outstanding teams across the company. I am optimistic about the future of Asbury and look forward to continuing to support the company.”