Asbury Automotive Group, Inc.

Company profile

Asbury Automotive Group, Inc. is a Delaware corporation and a Fortune 500 company. It is one of the largest franchised automotive retailers in the United States. The company's business model is centered on owning and operating a network of franchised new-vehicle dealerships, along with associated parts, service, collision repair, and finance and insurance (F&I) services.

Segments

• Dealerships: New and used vehicle sales, parts and service, collision repair, and related customer care.
• Total Care Auto (TCA): F&I product provider offering extended service contracts, prepaid maintenance, protection products, GAP, and related products sold through Asbury dealerships and, in some cases, third parties; includes some service work for TCA customers.
• Asbury expanded its integrated F&I capabilities through the TCA business, including assets acquired with the Koons and Herb Chambers transactions.

Scale and footprint (as of 12/31/2025)

• New-vehicle franchises: 223
• Branded franchises: representing 36 brands
• Dealership locations: 171
• Collision centers (free-standing): 39
• States of operation: 15
• Employee base: approximately 15,000 full-time and part-time employees (no collective bargaining agreements)
• DMS transition: 38 stores migrated from CDK to Tekion (cloud-based DMS) as part of a modernization initiative

Major acquisitions and divestitures

• Herb Chambers acquisition (completed July 21, 2025)
  • Purchase price: approximately $1.76 billion
  • From Herb Chambers: 33 dealerships, 52 franchises, 3 collision centers, plus real estate
  • Expanded Asbury’s footprint in the Northeast
• Koons Automotive acquisition (completed December 11, 2023)
  • Added 20 new-vehicle dealerships, 6 collision centers, and related real estate
  • Expanded presence in the Washington–Baltimore region
• Divestitures and related gains
  • 2025: Sold franchises across several brands; pre-tax gain of $80.2 million (reported as gain on dealership divestitures, net)
  • 2024: Pre-tax gain of $8.6 million on franchise divestitures
  • 2023: Pre-tax gain of $13.5 million on a franchise divestiture

New-vehicle revenue mix (2025)

• Total franchises owned: 223
• Revenue by brand category (percent of new-vehicle revenues):
  • Luxury: 70 franchises — 32%
  • Import: 76 franchises — 40%
  • Domestic: 77 franchises — 28%
• Brand examples:
  • Luxury: Mercedes-Benz, Lexus, BMW, Acura, Infiniti, Land Rover, Maserati, Porsche, Volvo, Audi, Rolls-Royce
  • Import: Toyota, Honda, Hyundai, Nissan, Kia, Volkswagen, Subaru, Fiat, MINI, Isuzu
  • Domestic: Cadillac, Chevrolet, Buick, GMC, Ford

Product and service offerings

• New vehicle sales across a broad mix of Luxury, Import, and Domestic brands
• Used vehicle sales (retail and wholesale), including certified pre-owned programs
• Parts and service, including collision repair at 39 free-standing centers
• Financing and insurance: third-party financing arrangements plus TCA F&I products; TCA products are underwritten by third parties or administered through partners
• Omni-channel strategy: investments in digital and in-store experience to improve guest experience and drive demand across channels

Financial position indicators (highlights)

• Debt and leverage (as of 12/31/2025):
  • Total debt: $3.59 billion
  • Floor plan notes payable (net): $2.03 billion
  • Transaction-adjusted net leverage ratio: 3.2x (vs. 2.9x at 12/31/2024)
• Impairments and gains:
  • 2025: Asset impairment charges of $141.0 million related to manufacturer franchise rights and goodwill
  • 2025: Pre-tax gain on dealership divestitures of $80.2 million
  • 2024: Pre-tax gain on dealership divestitures of $8.6 million
  • 2023: Pre-tax gain on dealership divestitures of $13.5 million
• Corporate governance and capital allocation: disciplined allocation across growth, acquisitions, and stock repurchases, with ongoing integration of acquisitions and a diversified brand and geographic mix to reduce reliance on any single manufacturer or region

Real estate and facilities

• Dealerships: 173 locations (owned and leased breakdown for dealerships and collision centers combined)
  • Owned dealerships: 142 locations
  • Leased dealerships: 29 locations
• Collision centers: 31 owned, 8 leased (39 total)
• Total sites: 210 locations (171 dealerships + 39 collision centers)

Other notes

The company positions itself as a guest-centric retailer focused on long-term guest relationships, omni-channel experiences, and scale-based operating efficiency. It operates within franchise framework agreements and state franchise protections, and continues M&A activity while managing regulatory and contractual constraints.

Summary

Asbury Automotive Group operates 223 new-vehicle franchises across 171 dealership locations and 39 collision centers in 15 states. The company has two reportable segments (Dealerships and TCA/F&I), expanded through major acquisitions (Koons in 2023 and Herb Chambers in 2025), maintains about 15,000 employees, and manages a leveraged balance sheet while pursuing capital allocation and modernization initiatives, including a cloud-based DMS transition.