Cross-Continent Auto Retailers Opens Denver's Newest Toyota Dealership
9 March 1998
Cross-Continent Auto Retailers Opens Denver's Newest Toyota Dealership
AMARILLO, Texas, March 9 -- Cross-Continent Auto Retailers,
Inc. , the nation's first publicly traded franchised auto dealer
group, today announced the opening of Denver Toyota, Denver's newest
automobile dealership. Denver Toyota will be the only Toyota dealership in
the City of Denver, Colorado.
The dealership is located at 7300 N. Broadway in Denver, Colorado, at the
junction of I-25 and the Boulder Turnpike. Denver Toyota is the newest car
dealership in Colorado to feature covered parking for over 500 vehicles, and a
state of the art facility for sales, parts, service and customer convenience.
"Everyone will be able to identify the store by the distinctive showroom
rotunda rising above the freeways. Our customers will have the comfort of a
relaxed atmosphere and the convenience of a customer lounge, along with a
children's play area and extended hours for vehicle sales, service and
replacement parts. We are very excited about providing the absolute best
environment for selling and servicing Toyota's products and for our
customers," said Bill Gilliland, chairman and chief executive officer for
Cross-Continent.
Covering six acres, the all new Denver Toyota has a 20,000 square foot
showroom with curtain wall glass system reaching 42' from floor to ceiling and
72' to the top of the rotunda; a 42,000 square foot service center with 40
service bays, and a 8,200 square foot fully computerized parts department and
parts boutique. Additionally, the attached 3 story parking facility has room
for over 500 cars inside. Denver Toyota has parking available for 1,000
vehicles.
"Denver has never had a car store with the capacity and the convenience of
Denver Toyota. Not only will customers be able to choose from the largest
selection of new Toyotas and used vehicles in the state, but they'll be able
to do so in indoor comfort every day of the year," added Gilliland.
Cross-Continent acquired the dealership in April 1997 along with Toyota
West Sales and Service, Inc., in Las Vegas, Nevada. The dealership formally
operated as Douglas Toyota in Thornton, Colorado prior to the relocation in
the new facility. Cross-Continent intends to operate the Thornton, Colorado
location as a used car sales center.
Denver Toyota is expected to employ over 200 people full time. This will
be the largest car store ever located in the City of Denver, providing a new
source for jobs and tax revenue.
Denver Toyota was designed and engineered by Martin Design and constructed
by G.J.'s General Contractors, Inc.
Cross-Continent Auto Retailers, Inc. owns and operates a group of
franchised automobile retail dealerships in Texas, Oklahoma, Nevada and
Colorado. Through these dealerships, the company sells new and used cars and
light trucks, arranges related financing and insurance, sells replacement
parts and provides vehicle maintenance and repair services.
Cross-Continent Auto Retailers, Inc. is listed on the New York Stock
Exchange under the symbol XC.
Cross-Continent Auto Retailers, Inc. believes its shareholders benefit
from the views of management about the future of the company's business.
Included herein are forward-looking statements, including statements with
respect to anticipated revenue growth, acquisitions and profitability. There
are many factors which affect management's views about future events and
trends of the company's business. These factors involve risk and
uncertainties that could cause actual results or trends to differ materially
from management's view, including without limitation economic conditions,
risks associated with acquisitions and the risk factors set forth from time to
time in the company's filings with the Securities and Exchange Commission.
SOURCE Cross-Continent Auto Retailers, Inc.