Vehicle distributor continues reign over local private sector
HURRICANE Harvey may have damaged Gulf States Toyota’s headquarters, but the storm failed to make a dent in the independent Toyota distributor’s financial success.
For the seventh year in a row, Gulf States Toyota is the top private company in Houston, reporting $8.9 billion in revenue in 2017.
The vehicle distributor serves 158 dealer locations in Arkansas, Louisiana, Mississippi, Oklahoma and Texas. It has 2,100 employees companywide, including 1,900 in Houston.
Chairman and CEO T. Dan Friedkin says demand for Toyota vehicles continues to outpace the industry.
“It’s certainly an advantage to be supplying vehicles that are best-inclass and in high demand,” Friedkin said in an email.
By April of this year, new-car sales for the first quarter in Houston rose 12.6 percent over last year, with pickups and SUVs outselling cars by a margin of 2-to-1. In fact, the Toyota Rav4 crossover SUV was among the five best-selling vehicles in Houston last year.
“With a steady production of SUVs and trucks and the best mix of Toyota vehicles we’ve ever had, we’re well positioned to address the changing needs of consumers,” Friedkin said.
Beyond tapping into shifting market trends, Friedkin cited the company’s commitment to the Toyota brand and a focus on customer service as drivers of its growing performance.
Employees were put to the test during last summer’s hurricane, which forced the headquarters team into a temporary site.
After the storm, associates, dealers and dealer associates from across the US, together with a $250,000 donation from Toyota Motor North America, raised more than $1.5 million for the Friedkin Disaster Relief Fund. The money went to 363 individuals, including associates from Gulf States’ parent company, the Friedkin Group, and 23 dealerships across the Gulf Coast region, who were affected by the storm.
The Friedkin Group also donated $500,000 to the United Way of Greater Houston for long-term recovery efforts in the region. Employees returned to Gulf States’ headquarters as repairs were wrapping up earlier this year.
Looking ahead, Friedkin said rising interest rates could be an area of concern as growth in the auto market plateaus. But he downplayed the potential impact of trade tariffs because the majority of Toyota vehicles sold here are manufactured in the U.S.
Gulf States Toyota hasn’t been the only source of success for the Friedkin Group lately.
The parent company’s entertainment studio, Imperative Entertainment, in December released its first major motion picture, the critically acclaimed “All the Money in the World.”
Its creative consulting company, 30WEST, worked on the film “I, Tonya,” for which Allison Janney won best supporting actress in a motion picture at the Golden Globes.
And in June, the company’s hospitality division will convert the 140-yearold Aspen Times printing house into an event space.
“We’re looking forward to 2018 being another record year,” Friedkin said.