Car-Mart opens site in Cabot, 1st in ’20

America’s Car-Mart has opened a new dealership in Cabot, the chain’s 149th location and its first new lot for the 2020 fiscal year.

The dealership is at 177 Arena Road and will be managed by Dennis Johnson. The lot is the company’s 38th Arkansas dealership.

“A great deal of thought and foresight is placed on our decisions about where to grow. We select communities where we believe we can fill a void when it comes to what we offer at Car-Mart,” said Jeff Williams, president and chief executive of the Rogersbased buy-here, pay-here car dealer, in a statement.

In May, America’s CarMart reported yearly revenue of $744.6 million, up from $669.1 million in 2019. Net income for the period was $51.3 million, or $7.39 a share, compared with $47.6 million, or $6.73 a share for the year ago period.

Car-Mart has more than 2,000 employees and operates dealerships in Alabama, Arkansas, Georgia, Indiana, Iowa, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee and Texas.