NowAuto Announces Record Auto Sales of 297 Vehicles for August Up 26% from July
SCOTTSDALE, Ariz., Sept. 1 -- Global-E Investments, Inc. (BULLETIN BOARD: GEIV) , soon to become NowAuto Group, Inc., which recently acquired the assets of NowAuto, Inc. , which owns four auto dealerships in the Southwest and is a Tier I provider of Navicom GPS and GSM products and the Navicom GPS network, today announced record auto sales for the month of August. NowAuto sold 297 vehicles in the month of August, an increase of 26% from the previous month of July.
The auto sales are broken down by locations Phoenix, Arizona: 196 vehicles, up 19% from July. Sunburst Car Co. 3777 NW Grand Ave., Phoenix, AZ Mesa, Arizona: 53 vehicles, up 51% from July. 1366 W. Broadway, Mesa, AZ Tucson, Arizona: 34 vehicles, up 31% from July. 2345 S. Craycroft, Tucson, AZ Tempe, Arizona: 14 vehicles, up 40% from July. 814 N. Scottsdale Rd., Scottsdale, AZ NowAuto expects the same month over month growth in September.
"The NowAuto concept is definitely working. We have targeted a niche market with great success. What's impressive about the strong August sales numbers is Sunburst Car Co. had one less auto auction than in July combined with the hot summer in Arizona. In the past month, we have seen the benefits from hiring additional sales staff at our locations and successful advertising campaigns. The fall is one of the most fruitful times in our market and we are engaged in further marketing activities. By focusing almost exclusively on volume auto sales, we have in a relatively short period of time created a high-quality pipeline of new car trade-in vehicles for our customers from recent new car employee pricing promotions," said Scott Miller, CEO.
"Even though I am pleased with our sales results, I am excited to see NowAuto Group run more efficiently. The four auto dealerships, finance division, and Navicom GPS are all working smoothly as an organization and I expect to have a record second half of the year. I am confident that NowAuto Group is on the right path to succeed," said Miller.
Last week, the company announced preliminary unaudited results for the three-month period ended June 30, 2005. For the quarter ended June 30, 2005 the Company recorded consolidated revenue of approximately $6.3 million, an increase of 152 percent over the three-month period ended March 31, 2005. Earnings per share for the quarter ended June 30 were approximately $0.17, an increase of 183 percent over the previous quarter. The significant increase in results was principally attributed to the acquisition of Sunburst Car Co., Inc., the largest independent volume dealership location in Arizona, on March 31, 2005.
Under NWAU shares outstanding this would equate to $0.06 EPS for the quarter ended June 30, 2005.
Those interested in learning more about parent company NowAuto can email info@nowauto.com and request to be added to the investor news alert.
sed or implied by such forward-looking statements.