While General Motors (NYSE: GM) and Chrysler are clinging to the life raft of government cheese and new car dealers around the country are closing shop, America's Car-Mart (NASDAQ: CRMT) is doing a pretty brisk business.

The company reported its third quarter results this morning and they were pretty solid: an 8% increase in net income, a decrease in the company's debt load, and same-store sales growth of 2.9%. In a press release, CEO Hank Henderson commented that "Throughout the quarter we carried a slightly larger percentage of higher-cost vehicles in an effort to better attract those folks who are now 'buy-here-pay-here' customers as a result of recent credit tightening. We were able to maintain the positive sales momentum that began well over a year ago. In fact, for the nine-month period, unit sales are up strongly at 7.7%, revenues are up 11.6% and same store revenue growth is up 11.2%."

America's Car-Mart (NASDAQ: CRMT) operates 91 automotive dealerships, located primarily in the smaller urban markets of eight South-Central states. The dealerships focus on selling and providing the financing for basic, affordable cars, trucks and sport utility vehicles. Competitors include AutoNation (NYSE: AN) and CarMax (NYSE: KMX).

The company pleased investors last week, when it reported fiscal Q1 EPS of 45 cents and revenues of $75.7 million. Analysts had been looking for 38 cents and $73.8 million. The CEO expressed confidence in the firm's ability to maintain a positive sales trend, noting that Q1 retail unit sales had increased 25.8% (yr/yr) and Q1 same store revenues had risen 28.5% (yr/yr).

America's Car-Mart (NASDAQ: CRMT) operates 91 automotive dealerships, located primarily in the smaller urban markets of eight South-Central states. The dealerships focus on selling and providing the financing for basic, affordable cars, trucks and sport utility vehicles. Competitors include AutoNation (NYSE: AN) and CarMax (NYSE: KMX).

The company pleased investors late last month, when it reported fiscal Q4 EPS of 47 cents and revenues of $76.5 million. Analysts had been looking for 29 cents and $69.2 million. The firm said it was seeing increased traffic at its dealerships, as the cost of living rose. CL King subsequently upgraded CRMT shares from "accumulate" to "strong buy", noting management's improved execution in sales, underwriting, collections and purchasing. The company was expected to do well, in the current economic environment.