Your Source for Up-To-Date News and Research on the Collision Repair Industry 

 

click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email

SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor

Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide

Management/
Technical Info
Market Watch Rates
INSIGHT Inside this month's issue...

Feedback
Letter to the Editor

AutoNation Appoints Adams Simms Vice President-Used Vehicles; Acquires Hudiburg Chevrolet in Fort Worth, TX

FORT LAUDERDALE, Fla. -- AutoNation, Inc., America's largest automotive retailer of new and used vehicles, has appointed Adam Simms to the new position of Vice President-Used Vehicles.

Effective immediately, Simms becomes part of the Company's Operations Team, reporting directly to Senior Vice President-Operations Allan Stejskal. In his new role, Simms will drive sales and profit growth through the implementation of best practices throughout the Company's $3.9 billion-a-year used vehicle business. The Company sells its used vehicles primarily at retail through its 368 new vehicle franchises in 17 states.

Simms most recently served as founder, president and chief executive officer of iMotors, an Internet "clicks and bricks" venture that purchased, reconditioned and retailed used vehicles through more than 50 retail locations. In addition, Simms' automotive retail career has spanned 18 years, many of the industry's manufacturer brands and much of the country.

"Adam has the breadth and depth of automotive retail knowledge to take our used-vehicle retail business -- already the nation's largest -- to a higher level. This makes him a valuable addition to the AutoNation team," said Michael E. Maroone, AutoNation's President and Chief Operating Officer.

AutoNation has also announced that it has signed an agreement to acquire Hudiburg Chevrolet in Fort Worth, Texas, from Bob Hudiburg. Once closed, the Hudiburg Chevrolet acquisition will bring to 21 the total number of new vehicle franchises in the Dallas-Forth Worth market owned and operated by AutoNation.

Terms of the all-cash asset acquisition, which is subject to customary conditions and approvals, were not disclosed. AutoNation estimates Hudiburg Chevrolet's 2001 revenue will total approximately $88 million. A closing of the acquisition is anticipated for early 2002. Mr. Hudiburg will not retain a position with the dealership following the closing.

"Hudiburg Chevrolet will be a fantastic addition for our AutoNation-owned dealerships in the Dallas-Fort Worth market," said Michael E. Maroone, AutoNation's President and Chief Operating Officer. "The dealership has quality management, loyal customers and an excellent future."

Currently, AutoNation's franchises in the Dallas-Fort Worth market offer new vehicles from Buick, Chevrolet, Chrysler, Dodge, Ford, Jeep, Lincoln, Mercury, Nissan and Mazda as well as used vehicles, parts and services, and finance and insurance products. In addition, the Company owns and operates three Chevrolet franchises and one Nissan franchise in Amarillo.

AutoNation, Inc., a Fortune 100 company based in Fort Lauderdale, Fla., owns and operates 368 new vehicle franchises in 17 states, generating more than $20 billion of revenue in 2000.

©2000 Collision Repair Industry INSIGHT
All Rights Reserved

FEATURED
LINKS:

INSIGHT Supports the NABC!
Do You?