BENTONVILLE, Ark., May 4, 2009 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (Nasdaq:CRMT) today announced the opening of its two newest locations (Rogers, Arkansas and Okmulgee, Oklahoma). The total number of dealerships is now 94.
"This is a very exciting time for us as we open a second location in Rogers, Arkansas, where we opened our very first store 28 years ago. In 1981, Benton County, the county where Rogers is located, had a population of around 80,000 -- today that number has grown to over 200,000. We feel confident that this location will help us better serve existing customers and attract new customers as well," stated William H. ("Hank") Henderson, President and Chief Executive Officer of America's Car-Mart. "We are also very excited to be opening a new lot in Okmulgee, Oklahoma. In addition to generating new sales, this lot will also help us better serve a number of our existing customers due to it's proximity to our Muskogee and Sapulpa locations."
"Increasing sales volumes in our existing dealerships as well as incremental volumes generated from new lot openings are key to us achieving our future growth plans," added Jeff Williams, Chief Financial Officer. "We have made significant infrastructure investments over the last two to three years in order to support higher sales and loan volumes. The addition of locations like Rogers and Okmulgee will allow us to leverage these infrastructure investments into the future."
About America's Car-Mart
America's Car-Mart, founded in 1981, operates 94 automotive dealerships in eight states and is the largest publicly-held automotive retailer in the United States focused exclusively on the "Buy Here/Pay Here" segment of the used car market. The Company emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in small cities throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers.
Included herein are forward-looking statements, including statements with respect to opening new dealerships. There are many factors that affect management's view about expansion plans. These factors involve risks and uncertainties that could cause actual results to differ materially from management's present view. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.