Dossier
Newark Auto
Coverage of Newark Auto in the Nexus archive.
- ‘It’s really not for the faint of heart’: This 29-year-old CEO became a business owner, doubled revenue in 3 years, and learned what car not to drive
Lucas Philips, a 29-year-old CEO, acquired a niche automotive interior manufacturer and increased its revenue from over $1 million to $3 million in five years. He learned a costly lesson when renting a convertible Mustang instead of a Camry led to a $320,000 acquisition price for a rural Oregon shop, up from an initial $40,000 quote.