J.D. Byrider Announces 4Q 2012 Results
March 04, 2013 // Franchising.com // CARMEL, Ind. – J.D. Byrider, the country’s leading used car sales and finance enterprise, saw the largest period of growth in the company’s history during the fourth quarter of 2012.
From Oct. 1 to Dec. 31, 2012, the company sold a record number of vehicles and maintained high sales and service satisfaction ratings across the dealership network. The company also opened six new franchise locations in six states, relocated one franchise and acquired three franchised dealerships. In addition, five franchisees signed on to open new J.D. Byrider dealerships starting in 2013. By the end of 2012, J.D. Byrider had opened 14 new stores, for a year-end total of 123 franchised-owned and 23 company-owned stores in 29 states.
J.D. Byrider fourth quarter activities and accomplishments:
- Sold 12,054 cars, bringing the end-of-year total to 50,634.
- Generated $142.6 million in sales from October through December.
- Matched the all-time low charge-off rate – loans that are deemed uncollectible and written off – in 2012 compared to 2011.
-Attained a three-month cumulative 95.3 percent sales satisfaction and 91.3 percent service satisfaction rating across the dealership network.
- Opened six new franchise locations:
- Oct. 3: Beckley, W. Va. – Charles Rashid, owner
- Oct. 5: Orlando, Fla. – Jim Kagliery, owner
- Nov. 1: Durham, N.C. – Chris Thomas, owner
- Dec. 3: Dorchester, Mass. – Ed Wiggins and Trevor Wiggins, owners
- Dec. 4: Janesville, Wis. – Rick Francois, owner
- Dec. 13: Memphis, Tenn. – Eric Crigler, owner
- Relocated one dealership (South Holland, Ill., owned by Roger Swierbut)
- Acquired three dealerships from former franchisee Chris Hadley. J.D. Byrider acquired the locations in Nashville, Tenn., Florence, Ky., and Dayton, Ohio, as part of a push to grow company-owned and managed locations, which the company uses to pilot new initiatives and spur innovation.
- Signed new store rights to two new franchisees and three existing franchisees, some of whom plan to open new stores as early as 2013. These franchisees were comprised of one new car dealer, two executive-level managers and two finance professionals.
- Reached a new milestone - $1 billion in outstanding retail installment contracts. During the 24 years the company has been in business, it has sold and financed almost one million cars for customers with credit challenges who may otherwise not be able to secure reliable transportation.
- Received an award on behalf of its CFO. Bill Brunner was named Indianapolis Business Journal’s CFO of the Year for private Indiana companies with revenues of more than $100 million.
About J.D. Byrider
Founded in 1989, J.D. Byrider is the nation’s leading used car sales and finance enterprise. 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 950,000 consumers matched to quality, affordable vehicles and a franchise system servicing approximately $1 billion in contracts, the company continues its focus on reliability and customer satisfaction. Headquartered near Indianapolis in Carmel, Ind., J.D. Byrider consists of 123 franchised- and 23 company-owned dealerships in 30 states. Visit www.jdbyrider.com to learn more.
SOURCE J.D. Byrider
Andrea Farmer | Linda Jackson