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Larry H Miller Toyota

Larry H Miller Toyota

Larry H Miller Toyota

Larry H Miller Toyota

Our commitment to providing truly distinctive automotive experiences has made us one of the automakers with the highest customer satisfaction in the United States. . .

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Miller had a much more positive experience Chuck Stevinson Toyota in Lakewood, Colorado. In 1971, he was hired to turnaround their parts department. By his second year on the job, it had the highest parts sales of any Toyota dealership in the United States. Miller achieved this by building a national wholesale business instead of just focusing on the local market. Miller took advantage of the demand for locking gas caps during the energy crisis by buying the entire wholesale stock of such caps, which were only made by two companies. In 1973, Gene Osborne, part owner of the dealership, offered Miller a promotion to general manager. This promotion did not take effect until 1974 due to the oil embargo of the same year. In 1977, Miller was appointed the operations manager for all five of Stevinson's Toyota locations. Miller was eventually demoted to head one of the locations in order to make room for Stevinson's sons, with Miller asked to mentor them. Miller's work with Stevinson gave him national recognition among Toyota dealers and repair shops.

In the meantime, Miller honed his skills as an outstanding softball pitcher for Salt Lake City adult teams. To play in a fast-pitch league, he moved to Denver, where he became the parts manager of the Stevenson Toyota dealership. In three years Miller turned around that dealership's parts operation from one of the poorest in sales to become Toyota's national leader. It became the first Toyota dealership in the nation to sell $1 million in parts and then $2 million in one year. "Larry did a phenomenal job," said Gene Osborn, a partner in the Denver dealership, in the May 2, 1999 Salt Lake Tribune, adding that "He was intense and committed to his job." (Source: www.fundinguniverse.com)

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Throughout the 1980s and early 1990s, Miller acquired a number of automobile dealerships in Utah, Colorado, Arizona, and New Mexico, creating the Larry H. Miller Automotive Group. In 2007, Selling Power listed him as the tenth-largest U.S. automotive dealer, with 42 dealerships and sales of $13.5 million. Miller placed a strong emphasis on vertical integration to help his car business. For example, he started an advertising agency, a printing shop, and an insurance company. By the 1990s, Miller's reputation made financing new business ventures much easier.

On June 16, 1986, he purchased the remaining 50% from Battisone. To make the deal work, Miller offered to forgive a $3.5 million loan he had made to Battisone and assume payments on a loan that he was using that money to pay, assume another $1 million that Battistone and a partner had defaulted on, a $5.5 million note that would be payable to StratAmerica. In addition, $2 million in cash, the use of a Chrysler New Yorker demo car for Battisone's wife and a Chrysler Caprice demo car for each year Battistone until the StratAmerica note was paid, and ten Jazz tickets until the StatAmerica note was paid were offered. Battisone demanded a Corvette and ten additional tickets but otherwise liked the deal. Miller immediately agreed. Miller's payments on debt related to his purchase of the Jazz then amounted to $333,000 per month. (Source: en.wikipedia.org)

 

 

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