Police became aware of the situation following a call from Toyota company officials who said there was a considerable discrepancy in stock numbers after employees arriving at the dealership for work on Tuesday found the cars, the boss, three executives and several computers missing and notified head office.
Following a short investigation, Police found several vehicles, mostly Toyotas but some Fords as well, that had been moved from the lot by a Utah based transport company. It was paid with a fraudulent cashier's cheque.
Seven vehicles were found to be still with the transport company while a further 16 were discovered at a Utah motor auction. Several more cars were found in Las Vegas, Nevada.
The remaining vehicles, with a retail value totaling more than $2.5 million, are yet to be found. All the vehicles missing were financed to the dealership by Toyota.
The dealership had been facing financial difficulties with day-to-day operations having been overseen by a bank for the past three months.
The FBI is now investigating the matter further.