Car-Mart To Train General Managers Before Opening Dealerships

America’s Car-Mart closed eight dealerships in the past year, and the closings impacted second-quarter revenue as vehicle prices flattened and it worked to train general managers.

On Nov. 16, the Bentonville-based buy here, pay here used car dealer reported earnings rose 19% to $5.969 million, or 79 cents per share, in the quarter that ended Oct. 31, from the same period in 2016, and revenue was flat at $149.118 million.

When asked about the company’s plans to open dealerships, President Jeff Williams said the talent at the general manager position is preventing the company from adding “a whole bunch of dealerships.” Years ago, it was adding “10 to 12 dealerships a year, and with the change in the industry, [the company] decided that we needed to pull back and take another look at the growth plans. And that’s kind of where we are at now. We’ve got a good group of general managers.” Some still need “seasoning, and we’re working hard to bring them up and train them up.”    MORE

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