Quick Search

What does Crest Auto Group & NFM have in common?


Their all owned by Berkshire Hathaway as in Warren Buffett

So what’s the correlation here between the four car dealerships, which are all located on SH 121 Tollway  Crest Nissan , Crest Infiniti, Crest Cadillac and Stonebriar Chevrolet  within four miles of Nebraska Furniture Mart of Texas besides being a part of the Berkshire Hathaway portfolio.

Additionally as a cliff notes sidebar there’s actually one other car dealership besides the FOUR noted above which are all owned by Berkshire Hathaway Automotive under the CREST GROUP umbrella and that’s  Volvo of Dallas.  

Volvo of Dallas is currently located at the same location as Crest Infiniti and Crest Cadillac on Central Expwy right off of Parker in Plano.

But Volvo of Dallas will not be making the move to the new location on SH 121 in Frisco where their Nissan, Infiniti, and Cadillac stores will all be together when the build out of same is completed.

My personal speculation is that Volvo of Dallas will move into the present Crest Cadillac facility/showrooms on Central Expwy in Plano.

And it looks like VOLVO USA is making good strides in bringing the VOLVO brand back when the  brand was the first Scandinavian ‘rough and tumble’ economical automobile that just ran and ran for  VOLVO loyalist.

And you’re probably wondering how FOUR car dealerships fit into Mr Buffet’s Berkshire Hathaway’s group of easily his easily recognized icon businesses such as GEICO, Acme Brick Company, BNSF Burlington Northern Santa Fe Corp , Justin Brands (Justin Boots) which all have their corporate headquarters in North Texas.  

Plus Dairy Queen and Nebraska Furniture Mart have retail outlets in North Texas.

So the answer to the correlation of FOUR car dealerships Berkshire Hathaway Automotive and Nebraska Furniture Mart being all within 5 miles of each other is Berkshire Hathaway is the holding company for all.

Additionally after purchasing Van Tuyl Group and changing its name to Berkshire Hathaway Automotive  in Oct 2014 it has been indicated that the corporate headquarters will be moving from Phoenix to the new mixed-use development in Frisco known as  FRISCO STATION  and Frisco Station’s initial plans include many amenities conducive to a corporate tenant such as Berkshire Automotive Group.

At the time Berkshire Hathaway bought the Van Tuyl Automotive Group  it was doing in excess of $8 Billion in revenue, with 78 independently owned dealerships, 100 franchises in 10 states and currently sells 240,000 plus vehicles a year.   Berkshire Hathaway Automotive markets a total of  29 brands ,which are both domestic and foreign branded car companies, currently selling with a total inventory in NEW VEHICLES, around 31389  units as of this post, per Berkshire Hathaway Automotive web site.

And as noted by Mr Buffet, it makes sense moving the company to Dallas because Berkshire Hathaway owns several other companies based in North Texas such as Burlington Northern Santa Fe Corp, Acme Brick, GEICO, Justin Brands, plus Precision Castparts Corp which Berkshire Hathaway  just purchased this week for a record $32.3 Billion  and is Mr Buffet’s biggest deal/buy in the history of Berkshire Hathaway at this time.

List of Assets (companies) owned by Berkshire Hathaway

TAKEAWAY:

QUESTION: What financial impact does Berkshire Hathaway have on business tax and sales tax of their subsidiary operating companies located in North Texas?
ANSWER: I’d say the State of Texas and all the cities/counties within Texas that are fortunate to have one of Berkshire Hathaway’s businesses on their tax rolls should be more than grateful that the Oracle of Omaha has blessed them with the presence of one of his businesses or companies.

About Jerold Smith

From 35 years in the corporate world to a full-time Broker & REALTOR® for the last 15 years, I know real estate. I share my extensive knowledge and expertise with buyers, sellers or investors, personally. I am a NATIVE TEXAN and know the local market better than anyone else. Any questions? Just ask.

Trackbacks

  1. […] with David McDavid Honda at Preston Rd with Auto Nation Ford next door.  Going on further west is Crest Nissan, Crest Infiniti and Crest Cadillac and the lone ranger without the name Crest in front of it is […]

Speak Your Mind

*