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Hesterberg in Mobile as car dealer group eyes recovery
Mobile, Alabama -- Earl Hesterberg was prowling the lot with purpose.
Thursday, he was checking out the fresh pavement at BMW of Mobile, one of Group 1 Automotive's most recent acquisitions. The Houston-based chain has spent more than $5 million to upgrade the Mobile dealership's facilities since it bought the franchise from the Grady family in 2009.
Hesterberg, the head of one of the most respected of the large, publicly traded dealer groups, says he's comfortable in places like Mobile, where there's a little less competition.
"We like having a market area where we can compete on service and professionalism," he said. "In a market like this, it's word of mouth."
Among its 100-plus dealerships, Group 1 also owns Mobile's Pat Peck Nissan , Gulfport's Pat Peck Honda-Nissan-Kia , Pensacola's World Ford and three dealerships in the New Orleans area.
Hesterberg said he would like to own more stores in the region, although nothing is for sale right now. He said he'd also love to win a Mini franchise from BMW, though the company is expanding its smaller brand very slowly.
Group 1 won plaudits for its management during the recession and now seems to have outfoxed the challenges presented by the Japanese tsunami and earthquake. That's even though half the cars it sells are Toyotas and Hondas, two of the hardest-hit brands.
The company posted its best second-quarter profit ever, earning $24.7 million or $1.06 per share. Though the company sold 4 percent fewer cars, gross profit rose from $455 per new car sold to $2,252. That reflected the higher prices that consumers were willing to pay for scarce vehicles.
Nissan, which is also a big Group 1 nameplate, suffered less from disruptions after the March earthquake and tsunami. Now, Toyota and Honda supply is coming back into the market, and Group 1 is looking for a very aggressive fall.
"They've made it very clear that when they have inventory back on the ground, they're going to attack the market again," Hesterberg said.
houston ford dealers - News
Jim Bass started his automotive career after World War II working for Ford in Houston. He spent a lot of time on the road, helping others establish Ford dealerships in far-flung areas of the state. Weary of travel and wanting to spend more time with
Among its 100-plus dealerships, Group 1 also owns Mobile's Pat Peck Nissan, Gulfport's Pat Peck Honda-Nissan-Kia, Pensacola's World Ford and three dealerships in the New Orleans area. Hesterberg said he would like to own more stores in the region,
His father was proprietor and owner of Dow Motors Sales, the first Ford dealership in Brunswick. A 1952 graduate of the United States Naval Academy who subsequently earned postgraduate degrees from Rutgers University and the University of Syracuse,
By Autoblog Staff RSS feed Want to buy a 2012 Ford Focus Electric when it hits dealer lots in late 2011? You might be out of luck. Unless, that is, you reside in New York or California, as those are reportedly the only two states that are in line to
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