Budget Car Sales Acquires Three Retail Car Dealerships
4 June 1998
Budget Car Sales Acquires Three Retail Car DealershipsINDIANAPOLIS, June 4 -- Budget Car Sales, Inc., a subsidiary of Budget Group, Inc. , announced today that it has acquired Paul West Ford, Inc. in Gainesville, Fla.; Warren Wooten Ford, Inc. in Cocoa, Fla.; and Carson Chrysler Plymouth Dodge Jeep, Inc. in Plainfield, Ind. In 1997, the three dealerships had combined revenue of $165 million. All three dealerships, which are well-run, profitable and solidly established in their respective communities, will continue to operate under their current names as part of Budget Car Sales. Existing management will remain in place at each dealership to ensure a smooth and seamless transition to new ownership. Some of the long-term benefits to Budget Car Sales in owning retail car dealerships are sharing back office functions, management and marketing programs with its other operations. "These new additions will also create greater efficiencies in fleet purchasing, given that we already buy so many Ford products, and allow Budget Car Sales customers to access manufacturers finance programs, resulting in cost savings and revenue opportunities for the company," said Sandy Miller, chairman and CEO of Budget Group. "From a maintenance standpoint, our plans to lower costs include utilizing the dealer body shops for servicing Budget Car Sales, Premier and Budget Rent a Car vehicles, as well as purchasing auto parts for Budget Rent a Car locations nationwide," continued Miller. Budget Car Sales, Inc., one of the largest independent retailers of late- model, low-mileage cars in the U.S., operates nearly 30 corporate-owned dealerships throughout the country. Budget Group, Inc., through subsidiary companies and their franchisees, operates Budget Car and Truck Rental, the third largest worldwide car and truck rental system. In addition, the company owns Premier Car Rental, which serves the insurance replacement market, and Cruise America, the largest recreational vehicle rental and sales company in North America. Budget Group also operates airport parking facilities at select locations and, through Van Pool Services, leases vans for van pooling operations.