Austin Ligon Quotes
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President Obama has shown he has the vision to support average consumers and taxpayers.
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We expect modest improvement in used vehicle profits per unit as wholesale pricing moderates.
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New vehicle sales declined modestly, reflecting the performance of the broader new car marketplace following the end of the employee discount programs. Other sales and revenues benefited from increases in extended service plan revenues and service department sales.
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Private-equity and hedge-fund guys typically come into a situation of mediocrity, where rapid change may result in a profit.
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Margins on other sales and revenues grew as a result of the growth in extended service plan revenues, which have no associated cost of sales, and the growth in our service margin, reflecting improved overhead expense absorption.
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The Obama administration took rapid and decisive action to restructure GM and Chrysler. Within a fairly short period of time these companies were working effectively again.
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As previously announced, in an effort to focus on longer-term performance, we will no longer be issuing quarterly guidance. As we report our quarterly results, we plan to comment on how our performance is tracking against our annual guidance.
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We believe that this recognition is an acknowledgement of how we're revolutionizing our industry. We're giving customers what they want in a car-buying experience by creating a company culture that is focused on being ethical, trustworthy, and respectful of our customers.