CARMEL, Ind. — More than halfway through 2009, J.D. Byrider said its portfolio is showing an improved performance over the same period of 2008.

Moreover, the company announced it will open three new stores in the coming months, one company-owned location in Cincinnati, as well as franchise locations in New Orleans and Raleigh, N.C.

According to Steve Wedding, president of Byrider Franchising Inc., the company's improved portfolio performance has led to an 11-percent decrease in charge-offs, as well as decreases in one-day, 10-day and 30-day delinquencies when compared to the same time last year.

"With these economic conditions, our customers' jobs are their number one priority, and our cars provide the reliable transportation necessary for getting to and from work," said Wedding. "The decrease in charge-offs and delinquencies show how vital transportation is to getting and keeping a job."

J.D. Byrider's new company-owned store in Cincinnati will open in early August on the city's East side. The franchise locations in New Orleans and Raleigh, N.C., both owned by new franchisees, are set to open in September.

With the three new locations, J.D. Byrider will have 128 locations in 30 states, with plans to open additional stores later this year, officials noted.

New Orleans franchisee Robert Boyce Jr., an attorney who also has a background in commercial lending, is busy with preparations for the store's opening.

"We're excited to open our store in New Orleans, which is a great market for business," said Boyce. A resident of Baton Rouge, La., Boyce recently closed on a house in New Orleans and plans to move his family to be closer to the new location.

Raleigh, N.C., franchisees Lloyd and Chris Thomas have experience in both franchising and the automotive industry, according to the company.

Lloyd is the former owner of an Ethan Allen furniture franchise, and Chris has worked on both the sales and finance sides of the automotive industry for 10 years. Additionally, for the last 18 months, Chris managed the J.D. Byrider location in Maumee, Ohio. Although the Thomases are originally from Ohio, Chris, his wife, and their children recently relocated to Raleigh to manage the day-to-day operations of the new store.