Asbury Automotive Group

Asbury Automotive Group is a company based in Atlanta that operates auto dealerships in various parts of the United States. Founded in 1995, it was ranked No. 405 in the 2021 Fortune 500 list.[2] With 148 dealerships and 198 franchises representing 31 American, European, and Asian brands, it is the 6th largest automotive retailer in the United States as of March 2022.[3]

Asbury Automotive Group

Type	Public
Traded as	NYSE: ABG S&P 600 component
Industry	Auto Dealership
Founded	1995 (1995)
Headquarters	Duluth, GA
Key people	David W Hult, CEO Dan Clara, SVP of Operations Michael Welch, CFO
Products	New Vehicles, Used Vehicles
Revenue	$9.8 billion (2021)[1]
Operating income	$791.8 million (2021)[1]
Net income	$532.4 million (2021)[1]
Total assets	$8,002.6 billion (2021)[1]
Total equity	$314.5 million (2021)[1]
Number of employees	14,200[2] (2021)
Website	www.asburyauto.com www.clicklane.com

In February 2017, Asbury finalized the acquisition of Hare Chevrolet and Hare Isuzu Truck Center, operating in Noblesville, IN.[4]

In March 2017, Asbury finalized the opening of Nalley Nissan Cumming, an open point awarded to Asbury in Metro Atlanta.[5]

On August 22, 2017, Monaghan announced that he will step down from his position at Asbury effective January 2018, to be replaced by chief operating officer David Hult.[6]

On January 9, 2018, Asbury finalized the acquisition of Terry Lee Honda in Avon, IN, adding a second location to their Hare Automotive brand.[7]

In February 2019, Asbury agreed to acquire the four-location Bill Estes Auto Group.[8][9]

In December 2019, Asbury agreed to buy Texas-based Park Place Dealerships, a collection of luxury vehicle dealerships in the Dallas/Fort Worth area, for $1 billion.[10] On March 24, 2021, it was announced the deal was canceled amid concerns due to the COVID-19 pandemic.[11] However, a modified deal was reached on July 6 of that year[12] which closed on August 24.[13]

In December 2020, Asbury unveiled Clicklane, an online new and used vehicle retailing platform.[14] The company rolled out the platform across its existing dealership base while announcing intents to utilize the brand in markets in which it did not currently own stores.

On Sept. 29, 2021, Asbury purchased all 70 dealerships and land in the Utah-based Larry H. Miller Automotive Group for $3.2 billion, along with its Total Care Auto (TCA) vehicle protection plan business.[15] The company divested 7 Toyota and Lexus dealerships due to manufacturer guidelines[16]. In December 2021, Asbury acquired Stevinson Automotive Group in the Denver, Colorado area.