Easterns Automotive Group

Infobox_Company
company_name = Easterns Automotive Group
company_type = Private
foundation = 1988
location = Reston, Virginia, USA
revenue = $300 million USD
num_employees = 600+ (2007)
industry = New and used car retailer
homepage = [http://www.easterns.com easterns.com]

Easterns Automotive Group is one of the largest automobile dealers in the United States.fact|date=September 2008 The first Easterns Automotive Group dealership was opened in 1991 in Arlington Virginia. [cite news|url=http://www.examiner.com/a-376995~Eastern%20Motors%20founder%20Bassam%20finds%20fortune%20with%20second-chance%20financing.html|title=Eastern Motors founder Bassam finds fortune with second-chance financing|last= Wilmeth|first=Katie |date=Novembr 3, 2006 |work=The Examiner|accessdate=2008-09-13] In the fiscal year ending February 28, 2008 slightly less than 23,000 cars were sold; the company has about 17 locations in the mid-Atlantic region.

History

In 1995, the Easterns jingle made its first debut on local radio stations. The song features such direct lyrics as "Eastern Motors, where your job's your credit," intended to communicate to potential customers that they can "finance it all the way," if they purchase a vehicle from Eastern Motors. This catchy theme song established Easterns as a Washington area staple. Owner and CEO, Robert Bassam,said, “I don’t think there’s anybody really left in the Washington area that doesn’t know who Eastern Motors is". Although Easterns is constantly expanding, they still keep the original jingle. “ [The song] still says we have 600 cars, even though we have 1,500,” Bassam said. “Every time we’ve tried to [change] the jingle, it loses its magic ... it’s lightning in a bottle.”

Eastern Motors also engages in extensive television advertising in the Washington, DC area. The vast majority of its commercials feature the Eastern Motors' jingle. Many of the company's commercials include numerous celebrities. As of 2008, celebrities featured in the commercials include: Washington Redskins running back Clinton Portis, quarterback Jason Campbell, tight end Chris Cooley,wide receivers Santana Moss and Antwaan Randle El, Baltimore Ravens running back Willis McGahee, comedian Harland Williams, actor John Witherspoon, and rappers Fat Joe and Biz Markie.

Concepts

The concept for Eastern Motors was developed by Robert S. Bassam. The concept was first proposed when Robert Bassam realized that the second-chance service wasn’t being provided, the customer was often neglected and often relegated to the worst vehicles on the lot. While used cars has always been the main business for Eastern Motors, they also have a Hyundai dealership in Leesburg that sells new cars.

The typical Eastern Motors is approximately convert|15000|sqft|m2|abbr=on, carries an inventory of approximately 80 vehicles, and turns its inventory every 30 days. On average Eastern Motors employs about 15 people per location.

Eastern Motors does not negotiate on the price of a vehicle; the listed price is the sales price. If a customer wants to trade in a vehicle, it is done within the same transaction. These appraisals are based on real time, current market values for the vehicle that the customer wants to trade.

More than half of the inventory is purchased directly from an auction, bank, and or lease return on average; a purchase vehicle goes through Easterns 110 point mechanical inspection once that is complete the car goes through several hours of detailing before being put for sale. Each car comes with a 30 day warranty and a five day exchange policy.

Sales and revenue

The first Eastern Motors used car dealership was opened in May 1992. As of May 2008 Eastern Motors operated 16 used car dealerships and one new car franchise. [ [http://www.easterns.com/easterns/locations/leesburg.aspx Easterns Automotive Group - Leesburg, VA ] ] During the 12 month period ending February 28, 2008, the company sold 20,970 used cars. According to Robert Bassam Founder and CEO of Easterns Automotive Group, the company plans to expand in the near future.

Charity

The Easterns Community Service Foundation donates in excess of $250,000 a year in charitable donations to the community. [ [http://www.leukemia-lymphoma.org/all_page?cat_id=&item_id=45325&image_number=0&image_dir=&viewmode Leukemia & Lymphoma Society - Sports-A-Thon ] ] That amount is proportionally higher than any other philanthropic.

The core element Easterns looks for when engaged in efforts to aid the community is a true hands on approach that ensures Easterns is an active participant in proposed charitable events and sponsorships. [ [http://www.NBA.com/wizards/community/wizskateparty_071224.html WIZARDS: Wizards Host Skate Party ] ] Over the past two holiday seasons alone Easterns gave away over 20 new Hyundai vehicles to needy families [cite news|url=http://www.fredericksburg.com/News/FLS/2007/122007/12192007/340386|title=Fredericksburg.com - Car will help woman who's helping others|last=Dyson |first=Cathy |date=December 19, 2007|work=The Free Lance-Star|accessdate=2008-09-13] and over 20 more to charitable organizations. As Robert Bassam states, “This is a company that’s not just about profits we’re part of the community and always will be.”

Redskins Rides presented by Eastern Motors [ [http://www.redskins.com/news/newsDetail.jsp?id=3157 'Redskins Rides' Car Show At Redskins Park ] ] was held on August 10, 2008 at Redskins Park. The car show did not only feature the Redskins cars, but it featured cars that were customized by local attendees. There was plenty of food, fun, and entertainment for the whole family. The attendees not only got to enjoy the cars, but they also had a chance to enjoy some of their favorite players; Mike Sellers, Malcolm Kelly, Cornelius Griffin, Antwaan Randle El, Chris Samuels, Chris Cooley, LaRon Landry, Kedric Golston, Devin Thomas and Fred Smoot, as well as get autographs and take pictures. All proceeds from this event were donated to charity.

Awards

Eastern Motors has been named "Southeast Region Dealer of the Year in 2006" by F&I magazine. [ [http://www.fi-magazine.com/t_inside.cfm?action=news_pick&storyID=26795 F&I Management & Technology Magazine - F&I Magazine to Name Dealer of the Year - Jan 23, 2007 ] ] Easterns was also given the Award of Gratitude from The Brad Kaminsky Foundation for Brain Tumor in 2006 and 2007. Followed by Robert Bassam being named Business Leader of the Year in 2007.

References

External Links

* [http://www.easterns.com/ Eastern Motors Official Website]
* [http://www.easterns.com/easterns/contact_us.aspx Eastern Motors Store Locations]

See Also

*http://www.youtube.com/watch?v=qyAUtRj_LSQ
*http://schools.pgcps.org/sip/7305.pdf
*https://secure.my-websites.org/supporter/casematerial.do?n=gFRg&cmdbid=1035404&or=ld
* [http://voices.washingtonpost.com/dcsportsbog/2008/08/behind_the_scenes_at_eastern_m.html Behind the Scenes at Eastern Motors Shoot]
*http://sports.espn.go.com/espnmag/story?id=3520589 ESPN The Magazine
* [http://www.dccentralkitchen.org/article.php?id=15 DC Central Kitchen - Easterns Automotive Group Makes Largest Turkey Donation...Again! - November 25, 2004]
*http://www.washingtonpost.com/wp-dyn/content/article/2008/10/06/AR2008100603208.html