Planet Hyundai plans used-car ‘superstore’
Planet Hyundai will lease a vacant 5-acre car lot in Las Vegas and open a used-car "superstore" there that will double the size of the existing dealership.
Co-owner Ron Coury said he signed an agreement Thursday for the lease at 7100 W. Sahara Ave. next to Planet Hyundai's new-car dealership.
Coury said the used-car dealership will be complete with parts and service departments. The lot has parking for about 300 cars, he said.
Turning what has been a vacant lot for the last three years into a full dealership will be a shot in the arm for the local economy, Coury said. It will add 30 to 40 jobs, bringing the total staff at Planet Hyundai to more than 120, he said.
Coury said he hopes to get a business license in the next 30 days. Renovation work will take another 60 to 90 days. The vacant lot, owned by Las Vegas automobile dealer Fletcher Jones, was a Harley-Davidson dealership.
"We're going to primarily market used cars on the lot," Coury said. "We're going to be able to enhance Hyundai's presence with new cars, as well as used cars."
Coury said he may put some new cars on the lot, depending on his allocation from Hyundai. Right now, he gets about 200 a month and expects it to increase by 50 percent as sales grow.
Planet Hyundai on Sahara Avenue was acquired by TC Dealership, a limited partnership between Coury and Don Tamburro, in March 2010 from New York car dealer John Staluppi. TC Dealership added Planet Hyundai at Centennial Hills last year.
The two dealerships sold more than 4,000 new and used vehicles in 2011. Planet Hyundai Sahara was the top dealer in the district (Nevada, Montana and Utah) .
Economic conditions were likely at their worst when TC Dealership acquired Planet Hyundai two years ago, Coury said. The economy wasn't much better when the group went after a closed dealership at 6200 Centennial Center Blvd. for its second Planet Hyundai dealership.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
