Car-Mart reopens dealership in Tyler, Texas

by Talk Business & Politics staff ([email protected]) 259 views 

America’s Car-Mart has reopened a dealership in Tyler, Texas. The Bentonville-based buy here, pay here used car dealer announced Tuesday (Feb. 26) it had reopened the dealership.

Car-Mart closed the dealership about three years ago because of operational management issues, President and CEO Jeff Williams said. “We now have a great management team in place for that region and a solid general manager to lead our Tyler efforts,” he said.

The new dealership — the 13th one in Texas — will be managed by Colin Murphy, an experienced general manager. The company has opened five dealerships in fiscal year 2019, and it has 144 dealerships across 11 states in the South and Midwest.

Over the past three quarters of fiscal 2019, earnings rose 25.5% to $33.029 million, or $4.66 per share, and revenue increased 11.2% to $492.240 million, from the same period in fiscal 2018. Over the same period, vehicle sales rose 5.6% to 37,163.

Car-Mart announced in November it would open three dealerships, with two in central Arkansas. The dealerships will be in Conway, Bryant and Chattanooga, Tenn., and will be managed by existing general managers. The company continues to invest in its employees and especially into its general management recruitment, training and advancement program.

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