PRIMEDIA'S Ward's Dealer Business Announces 2001 Dealer 500 Ranking

Annual Ranking of America's Top Automotive Dealerships Indicates Growth Of Approximately $2 Billion in Total Revenue

SOUTHFIELD, Mich., June 17 -- PRIMEDIA's Ward's Dealer Business, the leading source of information for automotive dealer executives, today announced its annual ranking of America's top dealerships with total revenue figures reaching $62.4 billion in 2001, up from $60.5 billion in 2000. The findings from the 2001 rankings indicate that after four years of impressive growth by the nation's leading dealers, in which total revenue grew at an incredible average of $10 million a year per dealership, the major players in the industry are currently experiencing the impact of last year's poor economic conditions.

However, despite this slowdown in growth, total revenue per dealership for the Ward's Dealer Business 500 list reached $124.8 million in 2001, a figure that is above and beyond the national average of $31.6 million in total revenue that was registered by the nation's 21,600 new car dealerships.

"Over the past four years America's leading dealerships grew at a rapid pace, as total revenue figures hit record highs. Although the market conditions of 2001 did not lend to the same results, it is still important to acknowledge the incredible success that we saw last year from many of the nation's top dealers, as they still managed to effectively grow and expand their overall business, said Steve Finlay, editor of PRIMEDIA's Ward's Dealer Business. "With many signs pointing in the favor of an overall recovery for the industry in 2002, it is possible that we will see another wave of dramatic growth in the year ahead."

The Ward's Dealer Business 500 ranked America's leading dealers according to their total revenue figures in 2001. A listing of this year's top ten dealers includes the following:

1. Longo Toyota, El Monte, CA - 2001 Revenue: $ 536,789,000 2. Ricart, Columbus, OH - 2001 Revenue: $ 425,839,021 3. Galpin Ford, North Hills, CA - 2001 Revenue: $ 404,885,368 4. Fletcher Jones Motorcars, Newport Beach, CA - 2001 Revenue: $ 403,170,681 5. JM Lexus, Margate, FL - 2001 Revenue: $ 305,521,973 6. Prestige Ford, Garland, TX - 2001 Revenue: $ 303,203,116 7. Bill Heard-Landmark Chevrolet, Houston, TX - 2001 Revenue: $ 303,079,000 8. House of Imports Inc., Buena Park, CA - 2001 Revenue: $ 275,591,466 9. Earnhardt Ford Sales Co., Tempe, AZ - 2001 Revenue: $ 271,754,967 10. Smythe European, San Jose, CA - 2001 Revenue: $ 268,333,431

In addition to a significant slowdown in total revenue growth in 2001, this year's Ward's Dealer Business 500 ranking also highlighted the following noteworthy findings:

* Longo Toyota becomes the first dealership to break the $500 million mark * Forty dealerships exceeded $200 million in total revenue * A record number 301 stores exceeded $100 million in total revenue * Ford continues to lead in the number of dealerships - but that lead is dwindling, with 122 stores compared to 138 last year * Chevrolet increased its number of dealerships on the list from 85 to 96. Toyota also increased its total to 75 - up from 65 in 2000 * AutoNation Inc. placed 93 stores on the list - down from 96 in 2000

The June issue of PRIMEDIA's Ward's Dealer Business is currently available and more information on the Dealer 500 ranking can be found at http://www.WardsAuto.com .