It’s all about aggregation, says WASCO’s CEO
Wholesale Auto Supply Company was founded by auto dealers with a simple concept in mind – getting the most bang for their buck. Though the firm, also known as WASCO, has evolved since its founding, its mission has remained the same – help dealerships save money through bulk purchasing.
“Basically, if it is not something the manufacturers encourage you to buy from them, we are a supplier,” WASCO CEO Andrea Karsian tells Automotive Buy Sell Report, adding we supply “anything that will aggregate.”
Founded in 1959, WASCO is a cooperative with 200-plus dealer stockholders. Some 850 dealerships use its services. A dealer can become a member by simply buying one share of stock.
Stockholders receive a distribution of WASCO’s annual profits, which in 2017 equaled 7.4 percent of a stockholder’s purchases. Non-stockholders can also buy from WASCO at the same low prices, but they do not get an annual dividend.