ROGERS, Ark., Oct. 18, 2022 (GLOBE NEWSWIRE) — America’s Car-Mart, Inc. (CRMT) (the “Company”) announces that Steve Taylor will step into a new role as Director of Acquisitions.
“Acquisitions of well-managed dealerships offer significant growth opportunities for the US Car-Mart. Steve Taylor has been an outstanding operator in our industry for over 25 years. After helping us complete the acquisition of his company, Taylor Motors, in March 2020, Steve will take on this new role as the leader of Car-Mart’s acquisitions strategy,” said Jeff Williams, President and CEO. “Steve will leverage his deep industry knowledge and longstanding relationships with strong operators and help us expand our footprint. We are really lucky to have Steve leading the charge.
“We expect the acquisitions to continue to generate exceptional returns for our shareholders, an exit strategy for owner-operators and future growth opportunities for their associates. In each city where we operate, customers largely access credit through three different routes: first, from used car dealerships who provide indirect financing through third-party finance companies, second, from regional “buy here, pay here” and thirdly, small, owner-operated dealerships,” Williams said. “In our markets, the best competitors are typically a subset of owner-operated dealerships – those operated by people who have chosen not to borrow excessively, to focus on getting a car in good condition at their customers on reasonable terms and to provide both friendly service and disciplined collections. We believe we have developed a successful acquisition model that works for both parties. »
“Exit strategies have always been a challenge for dealers in our industry. The acquisition of my business by America’s Car-Mart has been a very positive experience for my team here in Illinois,” Mr. Taylor said. “As a self-acquired dealer, I’m in a unique position to talk to other dealers and share my personal experiences. I’m excited to start talking to good operators who want to know what exit options may exist for them as we continue to grow the Car-Mart brand. »
About American Car-Mart
America’s Car-Mart operates automotive dealerships in twelve states and is one of the largest public automotive retailers in the United States, focused exclusively on the “Integrated Automotive Sales and Finance” segment of the used car market. The company specializes in the sale of quality used vehicles and offers flexible used car financing options for customers with bad credit, no credit, repossessions or even past bankruptcy and puts the focus on superior customer service and building strong personal relationships with its customers. The Company operates its dealerships primarily in small towns in the south central United States, selling quality used vehicles and providing financing to substantially all of its customers. For more information about US Car-Mart, including investor presentations, please visit our website at www.car-mart.com.
|contacts:||Jeff Williams, CEO at (479) 464-9944 or Vickie Judy, CFO at (479) 464-9944|