Payless Car Sales to Expand in U.S., Canada
Payless to build up to 20 dealerships in Canada and plans to operate in 25 of the 50 states by 2009.
Payless Car Sales announced in late July that it signed an agreement with a developer to open used-car stores in Canada. And executives said Payless has its eyes on Mexico and Europe as well for future development.
To date, Payless has 43 franchisees who operate dealerships at 50 locations, with several of them owning multiple stores, and the company has a goal of operating in 25 of the 50 states within the next three years.
In Canada, contracts have now been signed for the master developer to build 15 to 20 Payless Car Sales dealerships throughout the country.
In a written statement Payless said it is hopeful that the new Mexican president will be able to get certain restrictions lifted as to what kinds of vehicles can be moved from the U.S. to Mexico, allowing banks there to finance used vehicles. Europe is also a major target. With the presence of auctions, bank financing and major foreign companies in the auto industry, the business climate ready to accommodate expansion there by Payless Car Sales.
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