J.D. Byrider provides optimistic outlook for 2009
March 31, 2009 // Franchising.com // Carmel, Ind. - At a 20-group franchise meeting in Indianapolis this month, leading used car and finance company J.D. Byrider shared encouraging statistics about the current state of the company, including the opening of two new stores since Jan. 1. Steve Wedding, president, Byrider Franchising, announced the new stores -- Traverse City, Mich. and North Charleston, S.C. - bringing the total to 128 stores in 30 states. Wedding said several more stores are planned to open this year.
February results demonstrated J.D. Byrider is faring better than new car dealers, who have been affected more severely by current economic conditions, Wedding reported. "More and more people are saying they're going to buy a car in the next six months, but they're saying they're going to buy used. The company has carefully stocked inventory, and we're expecting to produce a 25 percent increase in year-over-year net profit," he added.
"The bottom line is franchisees and company stores are strong," said Wedding. More than 90 percent of J.D. Byrider franchisees were in attendance at the Indianapolis meeting and strongly believe they have a great opportunity to serve a broader customer base, some of which J.D. Byrider's competitors have not been able to help with financing. "Our franchisee members left with goals to 1) cut overhead, 2) improve portfolio performance and 3) sell more cars. Doing all three of those things will put J.D. Byrider at the head of the pack," he added.
About J.D. Byrider
Celebrating its 20th anniversary this year, J.D. Byrider is the nation's leading used car and finance company franchise. The company was founded to serve customers with special auto financing needs and to ensure that they receive the same quality service in every J.D. Byrider dealership. With more than 800,000 consumers matched to quality, affordable vehicles, the company continues its focus on reliability and customer satisfaction. Headquartered near Indianapolis in Carmel, Ind., J.D. Byrider maintains 128 franchisee- and company-owned dealerships in 30 states