Tesla Store, New Lexus Dealership Coming To Temecula

Temecula CA

18 November, 2020

6:20 PM

Description

TEMECULA, CA — Temecula and Southwest Riverside County have a strong appetite for luxury vehicles, at least that's what Tesla and Toyota Lexus have decided. This week, the City of Temecula announced it has received a formal application from Tesla to occupy an existing 20,500-square-foot building off Rancho Way that will serve luxury car shoppers and owners with services like Tesla test drives, product purchases, picking up new vehicles and getting some vehicle repairs. It will be the first Tesla store to debut in Southwest Riverside County and a date of opening has yet to be announced, but the news comes just days after Temecula Valley Toyota broke ground on a 54,000-square-foot Lexus dealership in the Temecula Valley Auto Mall. The estimated cost of construction on the Lexus dealership is $15 million, which includes the purchase of land and construction of the facility, city documents show. According to City Manager Aaron Adams, Temecula auto dealers currently generate 27 percent of the city's sales tax revenue. "They are a vital contributor to the Temecula economy," he said. Temecula's affluence has increased over the years, which is attracting luxury brands like Tesla and Lexus. According to Adams, the median home price now exceeds $500,000, while the latest U.S. Census data show Temecula's median household income is $90,964, well above the state and county medians of $71,228 and $63,948, respectively.