– Carl Ritter, chief executive officer of Carbiz Inc., announced that Carbiz management has outlined its objectives for growth in the buy-here, pay-here automotive finance marketplace. After recently moving Carbiz's shares from a Canadian exchange to the U.S. over-the-counter bulletin board, management now seeks to expand the Carbiz Auto Credit chain of stores from three to 15 locations in Florida over the next four years.
"We have the internal capacity to develop personnel through our training and consulting group, and we are poised to manage this expansion using existing infrastructure," Ritter said. "We believe Florida has excellent economics for this expansion due to the substantial service industry in the state. This service industry employs our target demographic, so we intend to focus our growth in Florida using our buy-here, pay-here model.