Ugly Duckling's CEO Gregory Sullivan Talks to the Wall Street Transcript
NEW YORK--(BUSINESS WIRE)--June 12, 2000--The Wall Street Transcript has published an in-depth interview with Gregory Sullivan, CEO of Ugly Duckling (Nasdaq:UGLY - news), in which he talks at length about the company's future.
The entire 3,500-word interview is available free online at twst.com
Sullivan gives an overview of the company. ``Ugly Duckling is the largest used car dealership chain in the country focused solely on people with credit problems. We finance virtually all of our sales and hold the loans ourselves, so we are also one of the largest sub-prime auto finance companies in the country. We have 77 dealerships today. We went public in June of 1996. At that time we had seven dealerships, all in Arizona. And now we've expanded to 11 markets in eight states from coast to coast.''
According to Sullivan, ``One of the good things about our business is its stability. Obviously, the world is changing a lot through technology, but I feel confident that in 20 years, people are still going to be driving cars, and in 20 years, there are still going to be people with credit problems. Sure, there are some things that are changing in the nature of the business, but in general, those two things will be there. And it's a very people-related, relationship-oriented business.''
Looking forward, Sullivan explains, ``We plan to add new markets in areas contiguous to our existing markets. Eventually, we plan to be in virtually every state in the country, and there's no reason why we can't do business in the North. It's just easier for the foreseeable future, generally and operationally, to stay contiguous to our existing markets.''
This interview is part of a 77-page Automobile & Auto Parts Industry Issue available at twst.com or by calling (212) 952-7433 |
