Fidelity Holdings' Major Auto. Posts Pre-Owned Vehicle Sales in 2000

    KEW GARDENS, N.Y.--Feb. 9, 2001--Fidelity Holdings, Inc. , today announced that its Major Automotive division set a record for its pre-owned vehicle sales in 2000 at its Major World location in Long Island City, New York.
    Major World sold 8,211 used vehicles in 2000 compared to 5,601 pre-owned vehicle sales in 1999, an increase of 2,610, or 46%. Additionally, the Company announced that pre-owned vehicle sales for the month of January 2001 increased approximately 9% to a record 680 as compared to the previous January record 626 in January 2000.
    Major Automotive Group's Major World location in Long Island City is one of the leading New York metropolitan region's retailers of pre-owned vehicles. We believe that this record increase in pre-owned vehicle sales will strengthen our previous position achieved as number one nationwide in used car sales dollars, as a percentage of overall sales, as rated by industry opinion leader Ward's Dealer Business publication.
    Bruce Bendell, Chairman and Chief Executive Officer of Fidelity Holdings and President of Major Automotive Group, noted, "We are extremely pleased by the continued success of Major World's pre-owned vehicle operations. It is important to note that Major World achieved these record sales despite the severe weather experienced in the New York area in January as well as the less than favorable economic environment."
    Mr. Bendell continued, "We continue to brand the Major World name throughout the New York Metropolitan region as we seek to acquire additional dealerships and cluster them around a Major World used car operation. This strategy, which has proven to be quite successful, has enabled Major to grow to become one of the dominant new and pre-owned car dealers in the region. Fidelity continues to seek opportunities to further strengthen the Major brand name in its target market."