Mercedes-Benz, BMW, Lexus, and Toyota dealerships. Last year he had sales of $154.3 million, making his company No. 14 on the BE AUTO DEALER 100 list. “Our import lines had a record year,” says Pittman, who also owns a Dodge dealership. “They have new products and are very competitive. Our Lexus and BMW dealerships had a stellar year.” Pittman says it was not difficult getting into the import business. With more than 27 years in the car business, he says it was all about networking. He plans to get more import dealerships and is training family members, including his son, daughter, and son-in-law, to help grow the six dealership business (see BE Auto Dealer of the Year, this issue).
LOOKING TO THE FUTURE
“There are signs that the economy has bottomed out,” says NADA’s chief economist, Paul Taylor. “And 0% financing prompted a surge in the final quarter of last year. But there are some concerns. There were a lot of trade-ins of one and two-year-old cars, and dealerships have had an ample amount of those. That will provide stiff competition for new-vehicle sales,” explains Taylor.
But if the economy stays strong, massive employee layoffs lessen, interest rates stabilize, and a new war doesn’t break out this year, economists say new-vehicle sales will still remain close to record levels. BEMercedes-Benz, BMW, Lexus, and Toyota dealerships. Last year he had sales of $154.3 million, making his company No. 14 on the BE AUTO DEALER 100 list. “Our import lines had a record year,” says Pittman, who also owns a Dodge dealership. “They have new products and are very competitive. Our Lexus and BMW dealerships had a stellar year.” Pittman says it was not difficult getting into the import business. With more than 27 years in the car business, he says it was all about networking. He plans to get more import dealerships and is training family members, including his son, daughter, and son-in-law, to help grow the six dealership business (see BE Auto Dealer of the Year, this issue).
LOOKING TO THE FUTURE
“There are signs that the economy has bottomed out,” says NADA’s chief economist, Paul Taylor. “And 0% financing prompted a surge in the final quarter of last year. But there are some concerns. There were a lot of trade-ins of one and two-year-old cars, and dealerships have had an ample amount of those. That will provide stiff competition for new-vehicle sales,” explains Taylor.
But if the economy stays strong, massive employee layoffs lessen, interest rates stabilize, and a new war doesn’t break out this year, economists say new-vehicle sales will still remain close to record levels.
2002 Top 10 Growth Leaders
| COMPANY | LOCATION | 2000 SALES* | 2001 SALES* | % INCREASE |
| BRANDON DODGE INC. | Tampa, FL |
99.308 |
242.062 |
143.7% |
| HUNTSVILLE AUTOPLEX | Huntsville, AL |
29.000 |
56.000 |
93.1% |
| MIKE JOHNSON AUTO GROUP | Chesterfield, MI |
28.500 |
54.000 |
89.5% |
| WINSTON PITTMAN ENTERPRISES | Louisville, KY |
90.034 |
154.263 |
71.3% |
| THE HARRELL COMPANIES | Atlanta, GA |
268.547 |
417.351 |
55.4% |
| JIM MITCHELL AUTO GROUP | Lynchburg, VA |
110.000 |
170.000 |
54.5% |
| PALANKER CHEVROLET | West Babylon, NY |
121.595 |
184.319 |
51.6% |
| SIM FRYSON MOTOR COMPANY | Ashland, KY |
36.520 |
50.453 |
38.2% |
| MARTIN AUTOMOTIVE GROUP | Bowling Green, KY |
258.360 |
353.097 |
36.7% |
FREEHOLD
ACROSS THE WEB
|