Leader Auto Resources LAR Inc. (LAR) reaches quarter billion dollar financial threshold

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LAR, the largest purchasing group exclusively dedicated to new vehicle franchised dealers in North America, recently announced that more than a quarter of a billion dollars in additional discounts and dividends have been distributed to its dealer members since the company was founded in 1980.

Al MacPhee, Chairman of both LAR and the Canadian Automobile Dealers Association (CADA) stated that “LAR speaks the language of dealers everywhere and its dealer-principal centric focus and bankable rebates have resonated loudly with those dealers who have joined together to create a North American success story.” MacPhee also added that “there are more than 30 LAR millionaires, each having received in excess of $1 million in rebates, some having received in excess of $3 million each!”

LAR’s president and CEO, Robert Issenman, indicated that “dollar remittances to dealers are growing dramatically. LAR’s direct sourcing from Asia and the consolidating of its purchasing power in North America and Europe will further fatten the distributions in the coming fiscal periods”.

LAR, based in Montreal, Que. and also Albany, N.Y. serves dealers in Ontario, Quebec and the four Atlantic Provinces in Canada as well as the U.S. states of Connecticut, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.

Additionally, LAR is also an equal shareholder of TECAR International Trade GmbH, the world’s largest automobile dealer purchasing co-operative, with headquarters in Norderstedt, Germany. TECAR consolidates purchases in excess of $705 million annually on behalf of approximately 12,000 dealerships in 10 European countries and North America.

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