Message from the CEO

Recap of 2018

Hello all. Today, I would like to recap MileOne’s outstanding accomplishments from 2018. Our success is tied to yours, and without the hard work and dedication from each and every one of you, we would not have had the top performing year we had. 2018 was an incredible year. Overall, we sold 72,982 retail units. That’s the most vehicles MileOne has EVER sold in a single year.  

Our new car volume was up 2.5% and our used car volume was up 5% from 2017 while the industry as a whole was only up half of 1%. 

Our gross profits across all departments increased year over year. Used car front end gross profit was up 12% over 2017, while service gross profit was up 6%, and parts gross profits increased by 4%.

These are incredible numbers and accomplishments for our organization and should be celebrated – congratulations to each of you who helped us get here.

In 2019 there is certainly room to beat last year, despite rising interests rates and low unemployment. In fact, I predict that 2019 will be equally as strong and successful as last year. To ensure that is the case, we need to continue to look for new opportunities to increase our gross profits and keep a strong focus on expenses by holding ourselves accountable for every dollar spent.  Challenges will undoubtedly always arise, but our teams have consistently stepped up to the challenge in the past, and I have complete faith that we will continue to do so in 2019.

The new programs that were rolled out in 2018 as part of our newly branded MileOne Employee Advantage have been a tremendous success. In addition to celebrating many employees through our Milestone Recognition Program, we assisted almost 100 employees battle personal problems to help bring their best selves to work through our Employee Assistance Program. We also introduced two new supplemental insurances as part of our health and welfare program that over 400 of our employees signed up for during open enrollment.  In 2019, we will again continue to introduce new programs and incentives that make MileOne a top place to work and ensure that all of you have the best support and resources available to you.

I know many of you personally helped to fundraise and raise awareness for The American Cancer Society this past year. I am proud of our continued commitment in support of ACS; in 2018 we raised a total of $275,767. With this money, we were able to fund much needed transportation programs in Baltimore and Norfolk for patients who require assistance in getting to and from cancer treatment. We were also able to sponsor local ACS events such as Making Strides against Breast Cancer and Relay for Life in addition to funding local research grants in Maryland, Pennsylvania and Virginia. A big thank you to our top 5 fundraisers: Audi of Silver Spring, Hall Corporate, BMW of Silver Spring, Mercedes-Benz of Annapolis Service Center, and Heritage Honda of Bel Air. Thank you again to all who contributed.

As we look to the upcoming year our goals are huge and I have full confidence that as a team they will be met. Our focus will be on supporting our employees and retaining our customers while developing new ways to deliver a first-class customer and employee experience.

I want to conclude by thanking you, and I wish each of you luck in all of your endeavors in 2019.