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Hometown Auto Retailers history
Hometown Auto Retailers company history timeline
Hometown was originally incorporated in New York as Dealerco in March 1997.
In addition, it purchased Pride Auto Center, Inc. for $925,000, then in December 1998 closed on the acquisition of Boston-area Wellesley Lincoln Mercury, paying $650,000 and assuming certain liabilities.
Its net income of $800,000 was significantly less than the $2.3 million posted in 1998.
Each listing included a digital photograph of the actual vehicle, rather than a manufacturer's stock picture, as well as pertinent information about the vehicle. It launched Cyberlot in January 1999.
The company's optimism, however, was not borne out by reality in 1999, although the acquisition of new dealerships did increase revenues somewhat.
In February 2000 Joseph Shaker stepped down as president and chief operating officer in order to focus his attention on the launch of CarDay.
After posting disappointing third quarter results, management announced in November 2000 that it would forego plans to expand, which had been the hallmark of Hometown's strategy.
While the stock price of most publicly traded dealer groups suffered during the first quarter of 2000, Hometown actually increased by some 110 percent, but that bump was fueled by rumors of a possible takeover.
Even more trouble for the company's image came in February 2001 when Hometown's board of directors voted to remove chairman Salvatore Vergopia and his son, vice-president for fleet operations Edward Vergopia.
In the summer of 2001 the price of Hometown stock edged above $1, but remained well below the level it would need to achieve in order for the company to return to its plan for aggressive growth.
2001: NASDAQ de-lists stock.
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Hometown Auto Retailers competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Rio’s Auto Glass No 4 | - | $270,000 | 5 | - |
| Knopf Automotive | 1971 | $8.7M | 47 | - |
| Cornerstone Auto | 1962 | $7.4M | 106 | 10 |
| O'Daniel Automotive Group | 1979 | $370,000 | 7 | 7 |
| Ultimate Auto | - | $3.9M | 25 | - |
| DeNooyer Chevrolet | 1972 | $14.0M | 99 | 25 |
| Sid Dillon | 1976 | $380,000 | 5 | - |
| Lee Auto Malls | 1936 | $27.0M | 152 | - |
| indiGO Auto Group | 2006 | $36.9M | 100 | 109 |
| King Automotive | - | $470,000 | 10 | - |
Hometown Auto Retailers history FAQs
Zippia gives an in-depth look into the details of Hometown Auto Retailers, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Hometown Auto Retailers. The employee data is based on information from people who have self-reported their past or current employments at Hometown Auto Retailers. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Hometown Auto Retailers. The data presented on this page does not represent the view of Hometown Auto Retailers and its employees or that of Zippia.
Hometown Auto Retailers may also be known as or be related to HOMETOWN AUTO RETAILERS INC, Hometown Auto Retailers and Hometown Auto Retailers, Inc.