MAGNA Motors, exclusive distributor of Hyundai, said it will be pumping close to US$8 million in its ultra-modern facility on Oxford Road in St Andrew.

Managing Director Juan Vargas made the disclosure to Jamaica Observer’s weekly Auto magazine at yesterday’s handover of a Hyundai Grand i10 to Angels of Love Jamaica at the company’s Old Hope Road showroom in St Andrew.

“What we are looking at, between the building and other investments, is over US$7 to US$8 million … For a new company in a new country… to invest that amount of money is bold… It is an indicator that we have confidence in the brand and in Jamaica,” he said.

“The image of the building, components of the facility…will transmit outside what Hyundai is — a modern premium brand,” he continued.

He said the company has already invested US$10 million in the dealership since acquiring the rights in 2016.

The initiative forms part of Magna’s strategic plan to deliver premium world-class service to customers in a central location with greater speed and efficiency. The new facility will see a growth of 275 per cent in workshop capacity; 1,233 per cent in the parts department, and 276 per cent growth in showroom exhibition area.

Set to be officially opened in early 2019, the new location will occupy 2.52 acres (109,771 sq feet) and will boast a full range of services for maintenance and repair, a pre-owned department, kids zone, and will be outfitted with award-winning Hyundai models, top-of-the-line equipment and amenities.

Magna Motors currently operates from two leased locations — Balmoral Avenue and Old Hope Road. Following the construction of the new facility, Magna Motors will be closing both locations.

According to Vargas, the journey to Oxford Road began two years ago when the Dominican Republic-headquartered company took over the dealership arrangement with Hyundai.

“In the beginning of 2016 it had been very hard to find the appropriate land, appropriate location, appropriate size, and we used to go to Oxford Road to look at that land and say that will be perfect. So we were patient, and we got the land,” said Vargas.

“The only thing we regret is the timing; we are already two years [into] operating. We expected in two years to have our main, final house. But patience was good. We got what we dreamed of,” he added.