Based on the text below from Berkshire Hathaway’s annual report 2016, how would you describe Berkshire Hathaway Automotive Group, Inc.’s main business?
No customer description is provided, e.g. consumers primarily in Arizona and Texas.
Question 1
Based on the text below from Berkshire Hathaway’s annual report 2016, how would you describe Berkshire Hathaway Automotive Group, Inc.’s main business?
Berkshire Hathaway, annual report 2016:
“In the first quarter of 2015, Berkshire acquired a group of affiliated companies referred to as the Berkshire Hathaway Automotive Group, Inc. (BHA). BHA is the 4th largest automotive retailer in the United States, currently operating 109 new vehicle franchises through 83 dealerships located primarily in major metropolitan markets in the United States. The dealerships sell new and used vehicles, vehicle maintenance and repair services, extended service contracts, vehicle protection products and other aftermarket products. BHA also arranges financing for its customers’ through third-party lenders. BHA operates 31 collision service centers directly connected to the dealerships’ operations and owns and operates two auto auctions and a fluid maintenance products distribution company. Dealership operations are highly concentrated in the Arizona and Texas markets, with approximately 70% of dealership related revenues derived from sales in these markets. BHA currently maintains franchise agreements with 27 different vehicle manufacturers, although it derives a significant portion of its revenue from the Toyota/Lexus, General Motors, Ford/Lincoln, Nissan/Infiniti and Honda/Acura brands. Over 85% of BHA’s revenues are from dealerships representing these manufacturers.”
Description of main business
Berkshire Hathaway Automotive Group, Inc. sells new and used vehicles using dealerships located primarily in major metropolitan markets and franchise agreements with 27 different vehicle manufacturers.
What is missing from this description?
No customer description is provided, e.g. consumers primarily in Arizona and Texas.
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