Smart Choice Automotive Group Opens Three Used Car Stores in Florida
6 January 1998
Smart Choice Automotive Group Opens Three Used Car Stores in Florida
TITUSVILLE, Fla., Jan. 6 -- Smart Choice Automotive Group,
Inc. today announced further expansion of its retail operations
through the opening of three First Choice Auto Finance used car stores in the
State of Florida during the month of December 1997.
A used car retail store has been opened in Stuart, Florida, adjacent to
Stuart Nissan and Stuart Volvo, two new car dealerships owned by Smart Choice
Automotive Group. The Company now enjoys excellent visibility and a high
traffic profile in the Stuart area, with more than 1,200 feet of frontage
along heavily traveled U. S. Highway 1. Also on the East Coast of Florida,
the Company has opened a used car outlet in Vero Beach, which is located
approximately thirty miles south of Melbourne, where First Choice has been
operating since July 1997.
In Central Florida, First Choice has increased its market presence through
the addition of its first used car dealership in the Ocala area. Ocala is
located approximately 80 miles north of Tampa-St. Petersburg and 90 miles
northwest of Orlando. First Choice currently operates six used car stores in
Tampa-St. Petersburg and seven stores in Orlando.
"These new locations will leverage our Company's capabilities as the
largest retailer of dealer-financed used cars in the State of Florida,"
commented Gary Smith, president and chief executive officer of Smart Choice
Automotive Group, Inc. "On the East Coast of Florida, we are now operating
ten stores in the West Palm Beach vicinity, Stuart, Vero Beach, and Melbourne.
The addition of our Ocala store expands the number of retail outlets operated
under the First Choice Auto Finance name in Central Florida to eight. The new
stores will also enhance the productivity of our two centralized automobile
refurbishing facilities, which are located in West Palm Beach and Lakeland."
Smart Choice Automotive Group, Inc. operates a network of 25 new and used
car dealerships in the Southeastern United States. The Company underwrites,
finances and services retail installment contracts generated from the sale of
used cars by its dealerships. Its Eckler's subsidiary is one of the world's
largest aftermarket suppliers of Corvette parts and accessories. The Company
also provides training and insurance services to automobile dealerships
throughout the United States.
The Company is headquartered in Titusville, Florida and its common stock
trades on Nasdaq under the symbol "SMCH."
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that actual results may differ substantially from such
forward-looking statements. Forward-looking statements involve risks and
uncertainties including but not limited to, continued acceptance of the
Company's products in the marketplace, competitive factors, receivables
portfolio risks, dependence upon third-party vendors, and other risks detailed
in the Company's periodic report filings with the Securities and Exchange
Commission.
SOURCE Smart Choice Automotive Group, Inc.
