Hiley Automotive Group
2525 W. Loop 820 S.
Fort Worth 76116
Hiley Automotive Group celebrates 25 years
Celebrating 25 years in business, the Hiley Automotive Group took note of the occasion by opening a new dealership.
In March, Hiley Automotive Group opened a new Hyundai dealership in fast-growing Burleson. The state of the art facility is 28,000 square feet and located on approximately 13 acres. The company will sell and service new Hyundai automobiles and all makes and models of pre-owned vehicles. The Hiley group expects the location will generate approximately $50 million in annual revenue and will employ around 45 people.
Hiley sells a variety of brands, including GM, Ford, Chrysler, Audi, Subaru, Volkswagen and Mazda. The company employs 276 people locally, but also has dealerships in Oklahoma and Alabama.
Like many area auto dealers Hiley is seeing strong sales as American consumers head back to the showrooms full of confidence.
With the six biggest sellers of autos in the U.S. all increasing volumes and beating estimates in July, the industry is flirting with sales levels not seen in 10 years or more. Americans are buying pricey sport utility vehicles and pickups with luxury cabins, adding to the economy’s momentum as gasoline and financing are both relatively affordable.
Consumer confidence is solidly in pre-recession territory, which has inspired consumers to start trading in their old rides. Millennials are piling into the market, too, said Larry Dominique, executive vice president for car-pricing website TrueCar Inc., so the sales results are no fluke.
“A lot of people are buying because they have confidence in the economy and need to replace their cars,” Dominique said. “Millennials are coming to market pretty fervently.”
While consumer confidence slipped a bit in July, the eight- month average is the highest since 2004, according to University of Michigan Surveys of Consumers.
General Motors sales rose 6.4 percent, beating projections for a 0.6 percent improvement, and Ford’s light-vehicle deliveries rose 5 percent, topping estimates for a 1.8 percent gain. The North American unit of Fiat Chrysler Automobiles NV has grown now for 64 straight months, delivering 178,027 vehicles in the U.S. last month. Its 6.2 percent gain exceeded the 4.8 percent average estimate.
Nissan’s U.S. auto sales rose 7.8 percent, beating the average estimate for a 5.3 percent gain. Toyota reported a 0.6 percent gain, compared with estimates for a 0.1 percent decline from a year earlier, and Honda’s 7.7 percent increase topped projections for a 4.7 percent gain.
Auto sales momentum should carry forward for 18 months, according to Mark Wakefield, a Southfield, Michigan-based consultant with AlixPartners. He said he expects carmakers to sell 17.1 million cars and light trucks this year and 17.4 million next year.
Sales growth is being driven by “the economic recovery, vehicle affordability and more employment,” he said. – Bloomberg contributed to this report