ARIZONA NEWS

New automotive facility opens in Surprise to help underserved Hispanic communities

Sep 7, 2024, 7:15 AM

Cars inside a warehouse....

Tricolor, an automotive retailer, opened its new Surprise location on Sept. 4, 2024. (Greater Phoenix Economic Council Photo)

(Greater Phoenix Economic Council Photo)

PHOENIX – A new automotive reconditioning facility that aims to provide for underserved Hispanic communities officially opened its doors in Surprise.

Tricolor, a used automotive retailer, cut the ribbon to its new 258,000-square-foot facility on Wednesday. Surrounded by Arizona government officials and business leaders, the company underlined its focus on addressing the needs of Hispanic consumers.

“We are both proud and excited to join the community in Surprise as we grow to meet the mobility and financial needs of underserved Hispanic consumers everywhere,” Daniel Chu, founder and CEO of Tricolor, said in a press release.

Tricolor uses AI to provide auto loans to customers with limited or no credit. It has delivered $4 billion in loans to help people in underserved communities become more mobile, which can lead to new financial opportunities.

The new Phoenix location is estimated to support over 500 new jobs.

The facility, which was created from the ground-up in partnership with Surprise, will have the ability to manage 500 vehicles per week. Tricolor offers inspections, detailing and quality control, along with mechanical and cosmetic repair.

To ensure automobiles are ready for market, Tricolor performs a 150-point inspection and offers a free 18-month, 18,000-mile limited warranty on the vehicles’ major parts.

“We provide superior value to our customers in the form of high-quality vehicles fully backed by a warranty and financed at affordable rates – an integrated value proposition simply unattainable elsewhere,” Chu said.

Surprise Vice Mayor Nick Haney attended the ribbon cutting ceremony, along with Arizona Commerce Authority and Greater Phoenix Economic Council.

“With this new facility, Tricolor grows our robust automotive supply chain while showcasing the rapid economic growth taking place in the West Valley and across the state,” Sandra Watson, president and CEO of the Arizona Commerce Authority, said.

Tricolor is based in Texas but has 55 retail centers spread across California, Nevada, Arizona, New Mexico and a shared service center in Guadalajara, Mexico.

“Tricolor continues to prove its commitment to greater Phoenix with this massive new facility that will employ hundreds,” Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said. “The company’s dedication to buying and selling locally keeps money flowing within the regional and state economies, multiplying its impact on Surprise and neighboring communities.”

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

2-year-old Chandler boy dies...

KTAR.com

2-year-old dies after falling into Chandler backyard pool

A 2-year-old boy has died after being pulled from a backyard pool in Chandler on Saturday night. The investigation is still ongoing.

29 minutes ago

The Arizona Department of Transportation will host a virtual meeting to provide information about p...

Bailey Leasure

ADOT to host meeting on planned improvements for Loop 101/Interstate 10 interchange

The Arizona Department of Transportation will host a meeting for planned improvements to the Loop 101/Interstate 10 interchange.

1 hour ago

Sammy Hagar sold his 2015 Ferrari LaFerrari at the 2024 Barrett-Jackson collector car auction in Sc...

David Veenstra

Rock star Sammy Hagar sells rare Ferrari at Scottsdale Barrett-Jackson auction for record price

Sammy Hagar sold his one-of-a-kind 2015 Ferrari LaFerrari for a record price on Saturday during the Barrett-Jackson fall auction in Scottsdale.

3 hours ago

Republican presidential nominee former President Donald Trump speaks at a campaign rally at the Cal...

Associated Press

Donald Trump holds rally in California day before visiting Prescott Valley in Arizona

Donald Trump holds a rally in California on Saturday, one day before his visit to Prescott Valley in Arizona.

5 hours ago

Affordable apartment Phoenix...

Angela Gonzales/Phoenix Business Journal

Affordable apartment developer debuts in Phoenix with $700 million investment

A Minnesota-based housing developer is making its Arizona debut — while planning $700 million of new development in the Grand Canyon State.

9 hours ago

Lion cubs Phoenix Zoo...

Aaron Schmidt

2 lion cubs make debut into their habitat at Phoenix Zoo

Two male African lion cubs made their debut into the Predator Passage lion habitat at the Phoenix Zoo, authorities said Saturday.

19 hours ago

Sponsored Articles

...

Dr. Shanyn Lancaster, Family & Sports Medicine physician, Midwestern University Comprehensive Care Clinic – Central Phoenix

Exercise is truly your best medicine

“You never slow down, you never grow old”. – Tom Petty

...

Midwestern University

Midwestern University Clinic visits boost student training & community health

Going to a Midwestern University Clinic can help make you feel good in more ways than one.

...

Sanderson Ford

3 new rides for 3 new road trips in Arizona

It's time for the Sanderson Ford Memorial Day sale with the Mighty Fine 69 Anniversary, as Sanderson Ford turned 69 years old in May.

New automotive facility opens in Surprise to help underserved Hispanic communities