Pohlads’ Auto Co. Sees Success With Porsche
Last year, Twin Cities Automotive, which operates under Minneapolis-based Pohlad Companies, purchased four luxury car dealerships, including a Porsche outlet in Golden Valley—and now the company is being cited as an example of how the Porsche brand is thriving.
Twin Cities Automotive President Jay Hulbert told Bloomberg Businessweek that Porsche was the “cherry on the cake” when his company bought the luxury car dealerships, which also included Carousel Audi, Maplewood Audi, and Maplewood Imports (which sells Mercedes-Benz and Porsche vehicles.)
“[W]hen you dig into the financial performance, Porsche meets your expectations and then some,” Hulbert told the magazine.
According to Businessweek, which cited an Automotive News Data Center report, Porsche’s production last year climbed to 183 vehicle sales per franchise—a 23 percent increase over the previous year’s sales. With an increased demand for its Boxster, Cayman, and Cayenne releases, Porsche is reportedly on track to exceed 200 sales per franchise this year.
Alan Haig, managing director of Presidio Automotive, which advises dealerships on selling their stores, told Businessweek that a Porsche dealer may make approximately $10,000 per new vehicle—a $6,000 difference from a Ford dealer and a $7,000 difference from a Toyota Lexus dealer.
Twin Cities Automotive is one of many well-known names within the Pohlad Companies’ business portfolio, including the Minnesota Twins, J.B. Hudson Jewelers, Marquette Financial Companies, Marquette Real Estate Group, and United Properties, among others.