K&K Motors acquires Acura dealership here

Journal of Business, Jan 29, 1998

K&K Motors Inc., of Spokane, has bought the Ponderosa Acura dealership here from Ponderosa Enterprises Inc., of Coeur d'Alene, and has moved the dealership to a new location on East Sprague.

Raymond Kish, president of K&K Motors, which also operates Honda of Spokane, at 8201 E. Sprague, says K&K bought the Acura dealership here because it's a "tremendous complement to the Honda dealership. Besides, (Acura) is a fabulous line," he adds. Acura cars, like Hondas, are made by American Honda Motor Co.

K&K Motors has renamed the Acura dealership Acura of Spokane and has relocated the dealership to 8325 E. Sprague. just east of Honda of Spokane. The Honda dealership and the Acura dealership no share a common used-car lot, but each has its own new-car showroom and service center. Previously, Honda of Spokane's used-car operation had occupied the showroom where Acura of Spokane now is located.

Kish declines to disclose the terms of the acquisition, which was completed Dec. 24. As part of the deal, K&K bought Ponderosa Acura's new-vehicle inventor parts inventory, and signs.

Acura of Spokane currently is hiring salespeople, and eventually expects to employ 30 people in sales, he says.

Meanwhile, Ponderosa Enterprises has put a used-car lot called Ponderosa Imports at the location at 7503 E. Sprague, formerly occupied by Ponderosa Acura. Ponderosa Acura's about 25 employees have remained at Ponderosa Imports, with the exception of a parts and service employee who transferred to Ponderosa Enterprises' Coeur d'Alene-based Ponderosa Motors operation.

The Ponderosa Imports used-car operation is expected to remain at that location until May, when it will be moved to an undisclosed location on Francis Avenue, says Deborah Loy, who owns Ponderosa Enterprises with her brother, Mark.

Loy says Ponderosa Enterprises decided to sell its Acura dealership because its lease at 7503 E. Sprague will expire at the end of April, and it didn't want to build a new building for that dealership. She says that the company hopes to build a new facility later this year for its Bonanza Ford dealership in Cheney. That planned new facility is expected to be built on a site east of the Cheney-Four Lakes interchange with Interstate 90. Ponderosa Enterprises is seeking a zone change to allow for that project, Loy says.

Ponderosa Enterprises also operates Ponderosa Motors, in Coeur d'Alene, as well as dealerships in Moses Lake, Wash., and Kalispell, Mont.

In addition to being president of K&K Motors, Kish also is president of Spokane Lincoln Mercury Sales Inc., which operates Foothills Lincoln Mercury Mazda, at 202 E. North Foothills Dr.