Dealer Scott Ginsburg is betting a bundle on the growth of the luxury car segment. The odds appear in his favor.
Ginsburg, who owns Boardwalk Auto Group, opened a new Boardwalk Porsche in the affluent Dallas suburb of Plano, TX, The 36,000-sq.-ft. facility is one of the largest Porsche dealerships in the U.S.
“When you look at penetration, Dallas has one of the strongest luxury car markets anywhere,” Kirk Frederick, the new dealership's general manager, tells the Dallas Morning News.
The luxury-specialty segment is one of the most stable and lucrative niches in the auto industry. Porsche AG predicts it will grow 25% in a few years.
“As baby boomers come of age, they are spending money on cars they always wanted and houses they always wanted,” Ginsburg tells the News. “Luxury brands, without question, are doing incredible business.”
His group also owns Ferrari, Maserati, Lamborghini and Audi franchises.