Texas dealership giving GM, FCA stock as bonus with new vehicle purchase
It's not unusual to get a complimentary gift card for test driving a new vehicle. The team over at Frank Kent Motor Co. in Texas had a different idea on how to lure buyers - complimentary stock options.
During the month of April, the Fort Worth dealership is offering Drive a Piece of America, Own a Piece of America, where buyers will be gifted 10 shares of General Motors stock with the purchase of any new GM vehicle or 30 shares of FCA stock with the purchase of a new Chrysler, Dodge, Jeep or Ram.
"We're thrilled to be able to share this gift. Our customers, employees and community are our most valuable assets and we will always invest in them. We stand behind Americans and believe in the strength of the FCA and General Motors brands. As our economy rebounds, we are hopeful that the value of the stocks will increase for the recipients," said Corrie Watson, President of Frank Kent Motor Co.
Fiat Chrysler Automobiles N.V. (FCAU) opened the day at $6.71 per share on the NASDAQ exchange. General Motors Company (GM) started the day higher at $18.04 per share.
Vehicle sales plummeted in March with many automakers posting declines of over 50-percent from March 2019's numbers. Additionally, many showrooms are closed. However, many dealerships are able to complete no-touch handoffs and service facilities are still operating as essential services in most states.
Frank Kent Motor Co. has developed into one of the largest Cadillac dealerships in the Southwest, has been awarded the General Motors Dealer of the Year, and is recognized in the Cadillac Master Dealer Hall of Fame. Their dealership portfolio has grown to include Cadillac, Chevrolet, Buick, GMC, Chrysler, Dodge, Jeep, and RAM.
In addition to the dealership, Watson and co-owner Will Churchill own and operate Fort Brewery, Cadillac Wines, and Grease Money Rubs, a seasoning line. They also founded Dream Park Fort Worth, an inclusive playground for children of all abilities.
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