The original General Motors Chevrolet-Oldsmobile franchise was granted to Trapp Peters in May 1948. Lloyd Steele and Dell Nicholson purchased the company in 1952 and changed the name to Steele Nicholson Motors. Dell Nicholson left the business in 1959 and Lloyd Steele continued operating the company until 1965 when it was purchased by George Preston. The dealership name was changed in 1966 to Preston Chevrolet-Oldsmobile Limited. In September 1974 the Cadillac franchise was granted by General Motors of Canada and a 34,000 square foot facility was built at the present location.
In August of 2006, following the passing of Mr. Preston, the dealership was acquired by Robert Wolfe of Calgary and Peter Heppner of Edmonton. Mr. Wolfe and Mr. Heppner have been appointed co-dealers by General Motors for the Preston dealership. Mr. Heppner has relocated to the Langley area to allow him to efficiently perform the duties of General Manager of the dealership.
In July of 2010, the Buick and GMC franchises were granted to Preston and the company was renamed Preston Chevrolet Buick GMC Cadillac Limited.