The deal was closed on August 18, 2016 and broadened ZT Motors' footprint to five premier auto brands: BMW, Kia, Mazda, Mercedes-Benz and Toyota/Scion. ZT Motors is expected to generate approximately $180 million in annualized revenues.
Chris Powers has been named general manager of Kia of Tallahassee. Powers is a seasoned expert in the automotive industry with 29 years in management roles ranging from finance manager, sales manager, general sales manager, used car director to general manager.
"At ZT Motors, our key differentiator is our commitment to creating a white-glove experience for each and every customer," said Powers. "This 'Driven by Service' mantra will be integrated throughout the Kia of Tallahassee dealership, starting with the addition of eight new service bays and an enhanced customer service area. We want to ensure the highest standards of satisfaction for our customers."
The acquired interest brings the eighth largest car manufacturer in total sales into the ZT Motors automotive portfolio.1 Additionally, J.D. Power ranked Kia the highest in initial quality with a score of 83 PP100 in 2016.2 This is the first time in 27 years that a non-premium brand has topped the J.D. Power rankings, and the second consecutive year Kia has led the non-premium brands in quality.
ZT Motors is headquartered in Houston and currently serves Texas and Florida. The company is owned and operated by ZT Wealth, a full-service wealth management firm that specializes in innovative private equity investments and building service-oriented companies from the group up. ZT Motors entered the market through the acquisition of four dealerships in Fort Walton Beach, Florida in January 2015.
For more information on ZT Motors, visit www.ztdealers.com. For more information on Kia of Tallahassee, visit www.kiatallahassee.com.
About ZT Motors:
ZT Motors is a Houston-based premier automotive dealership group serving Fort Walton Beach and the entire Emerald Coast, as an authorized representative of a diverse lineup of brands including BMW, Kia, Mazda, Mercedes-Benz, and Toyota/Scion. Our "Driven by Service" commitment extends from a client's first visit through a lifetime of ownership, resulting in one of the nation's highest Customer Satisfaction Index rankings. In addition to new vehicles, ZT Motors offers a variety of Certified Pre-Owned vehicles and complete service maintenance facilities.
1 Source: Automakers & Automotive News Data Center (ANDC), June 2016
2 Source: J.D. Power 2016 U.S. Initial Quality StudySM (IQS), June 22, 2016
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SOURCE ZT Motors