Asbury Automotive Group (NYSE: ABG) is a franchised automotive retail company that sells new and used vehicles, arranges financing, and provides parts, service, and finance and insurance products through a network of dealerships across the United States. Revenue comes from four primary streams: new vehicle sales, used vehicle sales, parts and service, and finance and insurance (F&I) products, including extended service contracts and protection products underwritten through its TCA subsidiary. Asbury is one of the largest franchised automotive retailers in the United States, operating 17 locally branded dealership groups in 15 states as of December 31, 2025. The company is incorporated in Delaware, headquartered in Atlanta, Georgia, organized in 2002, and listed on the Fortune 500. Major acquisitions include the Herb Chambers Companies (33 dealerships, 52 franchises, completed July 21, 2025, for approximately $1.76 billion) and Jim Koons Automotive Companies (20 dealerships, completed December 11, 2023, for approximately $1.50 billion). The business is capital-intensive and debt-funded, with both acquisitions financed primarily through senior credit facilities.

Revenue model

Transactional revenue from new and used vehicle sales; fee and commission revenue from arranging third-party financing for customers; straight-commission and retrospective-commission revenue from F&I product sales including extended service contracts, GAP contracts, and protection products; and parts and service revenue from repair, maintenance, and collision work at franchised dealership locations and collision centers.

Products and services

New vehicle sales and lease transactions; used vehicle retail sales and wholesale disposition; certified pre-owned vehicles; finance and insurance products including extended vehicle service contracts, prepaid maintenance contracts, key replacement contracts, guaranteed asset protection contracts, paintless dent repair contracts, appearance protection contracts, tire and wheel contracts, and lease wear and tear contracts (offered via TCA, acquired December 2021); third-party vehicle protection products sold on commission; parts, service, and collision repair.

Customers and end markets

Individual retail consumers purchasing or leasing new and used vehicles; wholesale buyers including other dealers and licensed wholesalers for used vehicle disposition; retail customers purchasing F&I products at point of vehicle sale.

Value-chain role

Franchised retailer and distributor sitting between vehicle manufacturers and end consumers; arranger of third-party financing (does not directly finance customers); F&I product distributor and underwriter via TCA subsidiary; collision repair operator.

Geographic exposure

United States only; operations in 15 states as of December 31, 2025, with concentrations in Florida, Texas, South Carolina, Virginia, Maryland, Indiana, Massachusetts, and Rhode Island; expanded into northeast United States via Herb Chambers acquisition (July 2025) and greater Washington-Baltimore region via Koons acquisition (December 2023).

Source: SEC 10-K, filed 2026-02-20

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