Last $78.67 USD
Change Today -0.35 / -0.44%
Volume 213.2K
As of 6:40 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2905 Premiere Parkway, NW

Suite 300

Duluth, GA 30097

United States

Phone: 770-418-8200

Fax:

Asbury Automotive Group, Inc. operates as an automotive retailer in the United States. As of December 31, 2013, the company operated 100 franchises (80 dealership locations). It offers a range of automotive products and services, including new and used vehicles; vehicle maintenance; replacement parts and collision repair services; new and used vehicle financing; and aftermarket products, such as insurance, warranty, and service contracts. As of December 31, 2013, the company operated dealerships in 18 metropolitan markets throughout the United States. Its retail network is made of up dealerships operating primarily under eight locally-branded dealership groups. New Vehicle Sales As of December 31, 2013, the company’s dealerships represented a portfolio of 29 American, European, and Asian brands. Its new vehicle sales consist of the sale of new vehicles to individual retail customers (new vehicle retail) and the sale of new vehicles to commercial customers (fleet). In 2013, the company sold 87,959 new vehicles through its dealerships. Used Vehicle Sales The company sells used vehicles at all of its dealership locations. Used vehicle sales include the sale of used vehicles to individual retail customers (used retail) and the sale of used vehicles to other dealers at auction (wholesale). In 2013, it sold 69,454 used retail vehicles through its dealerships. Parts and Service The company sells replacement parts and provides vehicle maintenance and collision repair service at all of its franchised dealerships, primarily for the vehicle brands sold at those dealerships. In addition, as of December 31, 2013, the company maintained 24 free-standing collision repair centers either on the premises of, or in close proximity to, its dealerships. Finance and Insurance The company refers to the finance and insurance portion of its business as ‘F&I’. Through its F&I business, the company arranges, and receives commissions for, third-party financing of the sale or lease of new and used vehicles to customers, as well as offers various aftermarket products. Its F&I product offerings comprise: Extended Service Contracts: It covers certain repair work after the expiration of the manufacturer warranty; Guaranteed Asset Protection (GAP) Debt Cancellation: It covers the customer after a total loss for the difference between the value of the vehicle and the outstanding loan or lease obligation after insurance proceeds; Prepaid Maintenance: It covers certain routine maintenance work, such as oil changes, cleaning and adjusting of brakes, multi-point vehicle inspections, and tire rotations; and Credit Life and Disability: It covers the remaining amounts due on an auto loan or a lease in the event of death or disability. Business Strategy The company’s business strategy is to focus on premier brand mix, strategic markets and diversification; local management of dealership operations; centralized administrative and strategic functions; and commitment to customer service. Environmental Matters The company’s business involves the generation, use, handling and disposal of hazardous or toxic substances and wastes. Operations involving the management of wastes are subject to requirements of the Federal Resource Conservation and Recovery Act and comparable state statutes. History Asbury Automotive Group, Inc. was founded in 1995. The company was incorporated in the state of Delaware in 2002.

 

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