Mitsubishi appoints recruiter
CYPRESS, Calif. - Mitsubishi Motor Sales of America Inc. has appointed Odis Reid to a newly created position - vice president of diversity relations and minority recruitment. Reid, 47, joined Mitsubishi in February 1997 as vice president of franchise development, after 20 years with General Motors. Reid will lead Mitsubishi's minority dealer recruitment; work to develop training, recruitment and retention programs for women and minorities; and be the company's liaison with minority and women's groups.
SONIC BUYS 8 STORES
CHARLOTTE, N.C. - Sonic Automotive Inc. has agreed to buy eight new-car dealerships for about $41 million in cash and $15 million in preferred and common stock. The acquisitions include four of the five stores owned by Manhattan Dealership Group in the Washington area: Lexus of Rockville and Rockville Porsche-Audi in Rockville, Md.; BMW of Fairfax in Fairfax, Va.; and Nissan-Jeep of Waldorf in Waldorf, Md. The other four are: Reading Buick-Pontiac-GMC and Reading Toyota in Baytown, Texas; Shottenkirk Honda in Pensacola, Fla.; and Classic Dodge in Mobile, Ala.
RICHMOND, Va. - Sales for CarMax Group, the used-car dealership chain, rose 31 percent, to $149.6 million, in March, but same-store sales dropped 11 percent for the month. Same-store sales represent sales at 16 stores that also were open in March 1998. Richard Sharp, chairman of parent company Circuit City Stores Inc., said CarMax lost $23.5 million in the fiscal year that ended Feb. 28.
3 TO BUY D/C MEDIA
DETROIT - DaimlerChrysler has consolidated media buying for all of its brands. PentaCom of Troy, Mich., will continue to buy media in North America for the Chrysler, Plymouth, Jeep and Dodge brands. Under the plan, the agency also gets the Mercedes-Benz brand. Bozell Worldwide Inc. of Southfield, Mich., will continue to buy media in all markets outside North America, except Germany, for the Chrysler, Plymouth, Jeep and Dodge brands. Bozell also gets the Mercedes-Benz and Smart brands. GFMO, based in Stuttgart, Germany, will handle media buying for all brands in Germany.