Temporary signage on Blackstone Avenue in Fresno reflects the recent acquisition of Michael Automotive Group and its four dealerships. Photo by Edward Smith

A longtime Fresno car dealership has changed its name and hands.

San Jose-based American Motors Group bought Michael Chevrolet, Michael Toyota, Michael Cadillac and Michael Volkswagen in early June.

The terms of the contract are not disclosed.

The four dealerships are now known as Blackstone Chevrolet, Blackstone Toyota, Blackstone Cadillac and Blackstone Volkswagen.

Stephen Cornelius, president of American Motors, said after the success of their Toyota dealership in Lancaster and Palmdale, he started looking for similar markets.

Knowing what Cornelius was looking for, one of his brokers noticed the Michael Automotive Group on Blackstone and Bullard Avenues.

Cornelius said opening in Fresno is very cost-effective compared to San Jose. The city was one of the few in the state to experience positive population growth, and in terms of income, Fresno ranked among the top five in the nation for growth.

“Fresno is an attractive market,” Cornelius said. “It’s not a small town – over a million people – but it has that small town feel.”

Cornelius is looking for dealers with growth opportunities. He uses technology to guide his inventory purchases.

Major market retailers do this by knowing what cars people are buying and how much they are paying, he said.

Trucks are now unloading new inventory at the dealership, Cornelius said. Being a brand new dealer, they get a “special acquisition” of cars to start them, which adds about 25% more inventory than the current level.

Cornelius also operates Stevens Creek Toyota and Stevens Creek Chevrolet in San Jose. He also runs a classic car company called American Motors Custom and Classics selling muscle cars and European sports cars.

He started the company after his own love for classic cars.

“Sometimes your hobbies become your business,” Cornelius said.

Michael Automotive Group has been in business in Fresno for 37 years. It belonged to Michael Rosvold.

Rosvold has decided he wants to retire, according to a press release from Pinnacle Mergers and Acquisitions — the consulting firm used to negotiate the sale on Rosvold’s behalf. The dealership had been listed for several months, according to the release, then received a full price offer after being listed with Pinnacle.

Rosvold will remain as a consultant before retiring.

Cornelius said he was really happy to be in Fresno. Growing up in Sacramento, Fresno feels very similar.

“Improve the employee experience, improve the customer experience and give back to the community and it works,” Cornelius said.