DriveTime, the largest used car sales and finance company in the country serving people with credit problems, announced it will open its 100th nationwide dealership on February 22 near Charlotte, North Carolina.
The dealership, located at 788 Concord Parkway North in Concord, represents a milestone for the growing company. In 2002, DriveTime embarked on a major change in its business model and re-branding strategy. DriveTime has grown from two dealerships in one state in 1992 to 100 dealerships across nine states. The company now employs nearly 3,000 people nationwide. In addition, DriveTime was recently named the #1 ranked independent dealer and 8th largest used auto dealer in the country. And company executives say they have no intention of slowing down.
“I’m excited to say that we’ve reached an important benchmark in the history of our company,” says Jon Ehlinger, DriveTime spokesperson. “In late 2004, we initiated an aggressive plan to grow the company from 74 dealerships to the 100 we now have today, and we’re not finished yet. Our goal for this year is to continue on that path and open an additional 15 dealerships before 2008.”
In the coming year DriveTime has plans to hire over 400 employees nationwide and move into new markets, including Greensboro, North Carolina and Denver, Colorado. Including the Concord location, DriveTime now has four dealerships in the Charlotte market.