Quotes by Earl J. Hesterberg

“We could not be more pleased with our investments in the Lexus and Toyota franchises in Manchester and Houston. These franchise and facility actions will support additional revenue and profit growth while leveraging our operational scale. The stock repurchase and franchise dispositions demonstrate our commitment to improve stockholder value and are consistent with our previously announced strategy.”

“The appointment of regional CFOs is a natural step in the regionalization process we announced last November. Under Johns leadership, this will create a very strong finance team that will improve our finance systems and analytical capabilities. Additionally, each of these regional CFOs possesses significant automotive retail experience and will be located with our regional vice presidents. This will enable them to support our regional vice presidents in standardizing and unifying our key operating processes, improving our cost structure and our overall efficiency levels.”

“Despite lower domestic-brand new vehicle sales during the fourth quarter, our company was able to realize meaningful improvements in our overall profit performance. This improvement was made possible by strong performances in our used vehicle and parts and service businesses, two key areas of strategic focus. We were able to increase revenues in both areas, and I was particularly pleased with our dramatic improvement in managing our used vehicle inventory.”