Car-Mart opens its 127th dealership

by The City Wire staff ([email protected]) 93 views 

America's Car-Mart Inc. opened its 127th dealership this week continuing its expansion in Georgia.

The dealership is located in Covington, Ga. and marks the company’s third store in the Peach State. It’s also the third store opening this fiscal year.

Car-Mart continues to grow its store base by 10% annually, filling in markets across the southeast where the buy here, pay here used-car business already has brand recognition.

Shares of America’s Car-Mart have slid 10% since the end of May, as the company’s last two quarters raised concerns over more competition from other subprime lenders, that has forced Car-Mart to tweak its own payment terms to keep its best customers.

Car-Mart shares were trading at $41.02 in the morning session on Friday (Aug. 30), down 13 cents from the prior day. Over the past 52 weeks the share price has ranged from $35.89 to $50.59.

CEO Hank Henderson said the company’s growth strategy will continue as the financial balance sheet and existing back office infrastructure are strong enough to support the expansion.