Asbury Automotive makes a profit again: a good news to share

Not even two years have passed; the future of Asbury Automotive Group was bleak. With the advent of the recession that led to declining vehicle sales, a plummeting stock price as well as mounting sales together with an ineffective cost structure had the country’s sixth largest car retailer on the brink. However, with the change in time, things have turned out to be much better for Asbury. Asbury president and CEO Charles Oglesby quoted on Tuesday that they are pretty excited about their present position.

They consider that their cost cutting measures or rather moves helped the economies of the company to increase. This all brought about an improvement in the automotive retail market thereby leading to a string of improving financial quarters. It being the owner of eighty retail stores in eleven states, together with Nalley Automotive in metro Atlanta, made it clear that there has been a significant increase in revenue and income for the quarter.

Executives mentioned that the organization is positioned to continue its progress, even without a fast and rapid emergence from the recession. Oglesby and Asbury have the capital for acquiring other dealerships, likely Ford or General Motors stores in regions where it presently operates.

Shuttervoice truly wishes that Asbury reaches the pinnacle of success and carries out their cost cutting measures effectively.