America’s Car-Mart Inc. opened its 150th dealership in Chattanooga, Tenn., on Friday (July 31).
This is the second dealership the Rogers-based buy here, pay here used car dealer opened in the first quarter of fiscal 2021, which started May 1. The company announced the opening Monday (Aug. 3).
In May, the company reported earnings for fiscal 2020 increased by 7.8% to $51.3 million, and revenue rose 11.3% to $744.61 million.
The company has dealerships in 12 states throughout the south-central United States, and the new dealership in Tennessee will be the seventh in the state.
It will be managed by Char Green with the assistance of Heather Horne. This will be the second dealership managed by Green as the company continues to expand the number of customers it can serve with its top-performing managers.
“A great deal of thought and foresight is placed on our decisions about where to grow,” President and CEO Jeff Williams said. “We select communities where we believe we can fill a void when it comes to what we offer at Car-Mart. We’re different from traditional dealerships. In addition to providing quality, used vehicles we also provide financing and exceptional service after the sale. We are committed to providing peace of mind for our customers, and we believe communities are better when we are there.”
The new dealership is at 5701 Ringgold Road and is open from 9 a.m. to 6 p.m. Monday through Saturday.
“We’re excited about joining the Chattanooga community,” Green said. “It’s a growing area with a lot of potential. At Car-Mart, we offer a unique buying process for our customers where it’s not just a purchase but an experience. We get to know our customers and work closely with them on flexible financing that meets their needs and budgets.”
Shares of Car-Mart (NASDAQ: CRMT) closed Monday at $95.62, up 46 cents or 0.48%. In the past 52 weeks, the stock has ranged between $129.70 and $35.18.