Veteran new-car dealer sells franchises

Springfield Lincoln-Mercury-Jeep owner Steve Hathcock completed the sale this morning of his new car franchises. Youngblood Motors acquired the Jeep label, while Republic Ford added the Lincoln and Mercury nameplates. Terms of the deals were not disclosed.

Hathcock, who has been in the business since 1976, said the sale is part of a corporate effort by both Chrysler and Ford to consolidate their main nameplates into single dealerships.

“The factories basically told me who I should sell to,” Hathcock said, noting that both Youngblood Motors owner John Youngblood and Republic Ford owner Bob Beine were the corporations’ choices. “They’re good guys, and they’ll do a good job.”

Youngblood said he’s excited to be adding the Jeep offerings to its Chrysler vehicles.

“Jeep is a good brand with a solid reputation,” Youngblood said. “We’re now the official Jeep dealer, and we’re looking forward to selling and servicing those vehicles.”

Youngblood already has added the Jeep vehicles and signage to both its lot at 3505 S. Campbell Ave. and its Web site, www.youngbloodauto.com.

Hathcock said his dealership, 1226 S. Glenstone Ave., will remain open until late August – doing business as Springfield Car Sales – to sell his remaining used vehicle inventory, but he doesn’t have any definitive business plans beyond that point.

“I’m going to explore other business ventures, but I might retire for a while,” Hathcock said. “I don’t know what I’m going to do – maybe nothing.”

Read SBJ’s Aug. 11 issue for more on the sale.