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The company rolled out the platform across its existing dealership base while announcing intents to utilize the brand in markets in which it did not currently own stores. On Sept. 29, 2021, Asbury purchased the Utah-based Larry H. Miller Dealerships for $3.2 billion, along with its Total Care Auto (TCA) vehicle protection plan business. [20]
Throughout the 1980s and early 1990s, Miller acquired a number of automobile dealerships in Utah, Colorado, Arizona, and New Mexico, creating the Larry H. Miller Automotive Group. In 2007, Selling Power listed him as the tenth-largest U.S. automotive dealer, with 42 dealerships and sales of $13.5 million.
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A car dealer orders vehicles from the manufacturer for inventory and pays interest (called flooring or floor planning). Dealer holdbacks are a system of payments made by manufacturers to their dealers. [5] The holdback payments assist the dealer's ability to stock their inventory of vehicles and improve the profitability of dealers.
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Karen Gail Miller (née Saxton; born October 14, 1943), is an American businesswoman.Upon the death of her husband, Larry H. Miller, she assumed the role of chairwoman of the Larry H. Miller Group (LHM) of Companies, now known as the Larry H. Miller Company (LHMCO).
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