Rick Torres, the owner of Empire Hyundai, will buy Ashley Ford of New Bedford next week.
FALL RIVER – Rick Torres, the owner of Empire Hyundai, will buy Ashley Ford of New Bedford next week.
The dealership will take the name Empire Ford of New Bedford.
“It has been a busy year,” Torres said. “We are looking to expand our business.”
Empire Hyundai, 428 Pleasant St., expanded its operations last year when it purchased land at 2153 GAR Highway, Swansea, and opened Empire New To You, a dealership featuring used cars.
Ashley Ford, 395 Mt. Pleasant St., New Bedford, continues the expansion, Torres said.
“Our 10 year plan is to grow from three stores, now, to 10 to 15 stores and to keep them all in the Interstate 95 and 195 corridor,” he said. “We want to keep everything within 30 miles of Fall River.
“The buying power, with more stores, is incredible. There is a lot more bang for your buck when you are dealing with your vendors.”
Buying new and used cars for less allows them to sell them for less, he said.
Torres said he plans to increase the staff at Ashley Ford, immediately adding eight sales people and three managers.
“We will double the workforce in a year,” he said.
The dealership has three acres of land and a 26,000 square foot building, so it can accommodate an expansion, Torres said.
“We received an additional allocation of 100 new trucks,” Torres said. “They are in the process of being delivered. “We will have 100 pre-owned units delivered next week.”
The new dealership will also have access to the banking businesses already doing business with Empire, Torres said. They have banks and loan companies willing to lend to people with problem credit, he said.
“We can handle those,” he said. “We’ll bring all our banking relationships to the dealership.”
The closing on the sale is set for next week. A grand opening is planned for May 1.
The purchase does not change the relationship of Empire or the Torres family to the city, Torres said.
“My family arrived in Fall River in 1898,” he said. “We aren’t leaving Fall River.”
Email Kevin P. O’Connor at koconnor@heraldnews.com.