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LEWIS MOTORS SOLD TO SHEARER AUTO GROUP

Long-time Burlington auto dealer Bill Shearer has acquired Lewis Motors effective July 1, 2009, adding three new brands to the Shearer family of dealerships in Vermont.

"Acura, Audi and Volkswagen are flagship brands that have become mainstays in Vermont.  The Lewis family has set a solid foundation for their future" said Shearer.

The current location on Shelburne Road will be retained, but each brand will have its own dealership identity.  The names will be changed to Shearer Acura, Audi South Burlington and Volkswagen South Burlington.

Alex Lewis founded Lewis Motors in 1974 as a Volkswagen dealership.  The Audi franchise was added in 1976.  Alex's son David joined the firm in 1987 after graduating from Norwich University.  The Acura dealership opened in 1995 and David Lewis purchased Lewis Motors from his Dad in 1996.

Shearer Chevrolet was founded in 1928, and is one of the oldest dealerships in Vermont.  Shearer also operates Shearer Honda in Rutland, as well as Shearer Pontiac, Buick, Cadillac and GMC trucks in South Burlington.  It also owns and operates Direct Autobody, a brand new state-of-the-art collision repair facility which opened in 2008 and is located behind Shearer Chevrolet.

The Shearer Auto Group will now be able to offer customers the best cars and trucks from Japan, Germany and the United States.  "It's an exciting opportunity" Shearer concluded.

The American Recovery and Reinvestment Act of 2009
  • Provides a new tax deduction on 2009 income taxes for “qualified motor vehicle taxes”.
  • Qualified motor vehicle taxes include any State or Local Sales or Excise tax imposed on the purchase of a qualified motor vehicle.
  • Qualified motor vehicles include passenger automobiles or light trucks with a weight rating not exceeding 8,500 pounds.
  • Applies to NEW vehicles only.
  • Deduction allowed even if you don’t itemize deductions.
  • Limit on Price: New vehicle price cannot exceed $49,500.
  • Income Limit: Phased out for taxpayers making $125k singly or $250k jointly.
  • Effective date: PURCHASES FROM FEB 17,2009 - JAN 1, 2010
 
There is no restriction on the type or car and it does not have to be a Hybrid. Unlike the worker and housing tax credits, the car buyer tax break is an income tax deduction. This means that it would reduce your taxable income and hence net tax liability. So the higher your tax rate, the more you will benefit.