America's Car-Mart Inc.announced the opening of its 116th dealership which is located in Saint Joseph, Mo., and represents 15 Car-Mart stores in Missouri.
"We very proud to be expanding into great towns like Saint Joseph," said William "Hank" Henderson, president and CEO of America's Car-Mart. "For 31 years, Car-Mart has provided quality vehicles, affordable payment terms, and excellent service. With each new dealership we open we have an opportunity to provide our excellent service to more customers and to earn their repeat business in the future. The Saint Joseph dealership will be managed by Nichol Guillen who is very excited to lead our efforts at this great new Car-Mart location."
"We now have 116 dealerships in nine states. As we have been discussing for some time now, Car-Mart will continue to focus on increasing sales volumes at our existing stores and at the same time add great new locations," said Jeff Williams, chief financial officer. "Our solid financial results, strong balance sheet and competitive strengths will continue to allow us to provide the best possible service to our 53,000+ active customers and to future customers we will gain as we grow. We continue to expect to open additional dealerships at an approximate 10% annual rate into the future."
Shares of Car-Mart traded higher Monday July 23, while the broader markets languished in negative territory. Car-Mart stock traded at $45.10 at mid-day, up 20 cents. The stock has rebounded in recent weeks and is heading toward its 12-month target price of $48.