Asbury Automotive Group, Inc. operates as an automotive retailer in the United States. The company operated 104 franchises (83 dealership locations), as of December 31, 2014. The company 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, 2014, the company operated dealerships in 18 metropolitan markets throughout the United States. The company’s retail network is made of up dealerships operating primarily under eight locally-branded dealership groups. New Vehicle Sales As of December 31, 2014, the company’s dealerships represented a diverse portfolio of 29 American, European and Asian brands. The company’s 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 2014, the company sold 95,564 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 2014, the company sold 75,173 used retail vehicles through its dealerships. Parts and Service The company provides vehicle maintenance and repair services in the markets of all of its franchised dealerships, primarily for the vehicle brands sold at those dealerships. In addition, the company sells replacement parts and maintained 25 free-standing collision repair centers either on the premises of, or in close proximity to, its dealerships, as of December 31, 2014. Finance and Insurance Through its finance and insurance 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 aftermarket products. Its offerings include extended service contracts – covering certain repair work after the expiration of the manufacturer warranty; guaranteed asset protection (GAP) debt cancellation – covering 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 – covering 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 – covering the remaining amounts due on an auto loan or a lease in the event of death or disability. Seasonality The company experiences higher sales of luxury vehicles, which have higher average selling prices and gross profit per vehicle retailed, in the fourth quarter. Business Strategy The company’s strategy includes the following: focus on brand mix, strategic markets and diversification; maintain disciplined cost structure and emphasize expense control; flexible and prudent capital allocation; focus on higher margin products and services; and commitment to customer service. Environmental Matters Operations involving the management of wastes and the use of above ground and underground storage tanks are subject to requirements of the Resource Conservation and Recovery Act, analogous state statutes, and their implementing regulations. The company also is subject to the Clean Water Act, analogous state statutes, and their implementing regulations which, among other things, prohibit discharges of pollutants into regulated waters without permits, require containment of potential discharges of oil or hazardous substances, and require preparation of spill contingency plans. History Asbury Automotive Group, Inc. was founded in 1995. The company was incorporated in the state of Delaware in 2002.
asbury automotive group (ABG:New York)
2905 Premiere Parkway, NW
Duluth, GA 30097
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