Retail

ITDG celebrates 20 years of growth

Posted on May 8, 2014
ITDG CEO and President Mike Cox, left, recently played host to members John and Karen Marshall in Cancun. John Marshall is president of Dayton, Ohio-based Grismer Tire Co.

ITDG CEO and President Mike Cox, left, recently played host to members John and Karen Marshall in Cancun. John Marshall is president of Dayton, Ohio-based Grismer Tire Co.

There were smiles all around as the Independent Tire Dealers Group LLC (ITDG) celebrated its 20th anniversary in Cancun, Mexico, last weekend.

The group that calls itself “The band of brothers” has been on a fast track of growth since its inception.

ITDG was founded by a handful of Southern California tire dealers in 1994 with an idea to combine purchases for greater buying power. The group now has a presence in 34 states with more than 500 locations. It is targeting $200 million in purchases for 2014.

During the celebration, some of the founding members joked they would have been happy with $5 million in purchases, but now are confident that the group will continue to grow.

Michael Cox, CEO and president of ITDG, was hired to run the group 11 years ago, and the increases in buying programs have grown tremendously since that time. ITDG has buying arrangements with 13 different tire suppliers as well as sources for wheels, lubricants, automotive parts and shop equipment.

A major addition to the ITDG program was the 2004 launch of a captive insurance company that offers workers' compensation coverage for members. This program was followed by the launch in 2008 of a leasing company to offer members flexible equipment financing.

In 2011, ITDG signed a partnership with point S, a leading European group of independent tire and auto service dealers with 3,000 points of sale. The two groups continue to explore areas of mutual benefit.

"We have become the pre-eminent buying group in the country,” says Chris Wyborny, chairman of ITDG and vice president of Ramona Tire & Service Centers based in Hemet, Calif. He believes the growth over the next few years is limitless due to the flexibility that the group’s programs provide its members.

During the last eight years, the group has had an average shareholder return of 4.31%.

ITDG set records for new members, shareholders, member purchases and volume bonus and dividend payments in 2013.

Related Topics: Captive insurance, Chris Wyborny, Grismer Tire, ITDG, John Marshall, Mike Cox, Ramona Tire

Comments ( 0 )
More Stories
News

Two Asian Automotive Shows in One in March

Tyrexpo Asia 2017 and the inaugural edition of GarageXpo Asia will be held in conjunction with each other March 21-23, 2017, in Singapore. The events are organized by SingEx Exhibitions Pte. Ltd.

Bobby Hendry from 31 Inc. was from one of 80-plus vendors at the Tire Factory trade show. Here he talks to Mike Fleming, equipment supply manager for the dealer group, and Marc Thompson from Point S Everett in Everett, Wash.
News

Point S Rebranding Exceeds Expectations in the U.S., and Points to More Growth

Tire Factory Inc. members have rebranded the vast majority of their 206 stores to the Point S banner at a breakneck pace. And leaders of the Oregon-based cooperative are unveiling new programs with two big hopes: the momentum of current members continues, and more independent tire dealers join their network.

News

Cooper Enjoys a Full-Year Income-to-Sales Ratio of 8.5%

Cooper Tire & Rubber Co. posted net income of $69.3 million on net sales of $783.9 million for its fourth quarter ended Dec. 31, 2016. That compares to income of $59.2 million on sales of $775.5 million for the same period in 2015.

ATV has added 6 stores to its network of American Tire Depot stores in California.
News

ATV Opens 6 American Tire Depot Stores

ATV Inc. has acquired six stores in the greater Los Angeles metro area. The purchase expands ATV's network of American Tire Depot stores to 98 outlets, all in California.

News

MATDA Joins TIA's Social Media Platform

The Mid-America Tire Dealers Association (MATDA) has joined the social media content platform developed by the Tire Industry Association (TIA) and the Automotive Marketing Foundation (AMF).

News

Toyo’s Net Tire Sales Drop 6.7% in 2016

Toyo Tire & Rubber Co. Ltd. reported a net loss of 12.3 billion yen on net sales of 381.6 billion yen for its fiscal year ended Dec. 31, 2016. That compares to net income of 1.6 billion yen on net sales of 407.8 billion yen for fiscal 2015.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!