Exhibit 99.1

                                              FOR FURTHER INFORMATION CONTACT:
                                                                   John Gaines
                                                        Vice President-Finance
                                                                (806) 374-8653





FOR IMMEDIATE RELEASE

                                       
                  CROSS-CONTINENT COMPLETES ACQUISITION OF
                     CHAISSON DEALERSHIPS IN LAS VEGAS


AMARILLO, TEXAS, JANUARY 6, 1998 -- CROSS-CONTINENT AUTO RETAILERS, INC. 
(NYSE: XC), today announced that it has completed the previously announced 
acquisition of Chaisson Motor Cars and Chaisson BMW, a multiple franchise 
dealership group operating in Las Vegas and Henderson, Nevada. 

The purchase price approximated $18 million and consisted of $13.3 million in 
cash which was provided under the company's revolving line of credit, $2.0 
million in Cross-Continent common stock and $2.7 million in notes payable to 
the sellers.  The transaction will be accounted for as a purchase.

Chaisson Motor Cars operates a total of three new car facilities in Las Vegas 
and Henderson, Nevada.  Chaisson is the exclusive dealership for BMW, 
Volkswagen, Audi, Land Rover and other specialty luxury vehicles in the Las 
Vegas market.  Chaisson BMW commenced operations in a recently completed 
state-of-the-art facility located at the Henderson Auto Mall in May 1997.

For the eleven month period ended November 30, 1997, total revenue for the 
Chaisson dealerships approximated $85 million.  The dealerships sold 1,331 
new units, 593 used retail units and 513 wholesale units.   

Total revenues were $70 million for the year ended December 31, 1996.  In 
1996 the dealerships sold 1,228 new units, 477 used retail units and 360 used 
wholesale units.  Reported revenue and unit sales for 1996 do not include 
Chaisson BMW, in Henderson, Nevada, which commenced business in May 1997.

Bill Gilliland, chairman and chief executive officer of Cross-Continent, said 
"the addition of the Chaisson dealerships complements our strategy of 
acquiring high-quality, profitable dealerships in selected markets and 
enhances our market share in one of the fastest growing markets in the United 
States."  

Gilliland noted the acquisition is a nice strategic fit for Cross-Continent  
in the Las Vegas market since Chaisson's facilities are located near the 
recently acquired Toyota and Nissan dealerships.  "The close proximity of the 
dealerships will enable the company to expand our 

                                    -more-


used vehicle sales operations, and will allow us to realize other benefits 
from such a tight cluster of operations in the Las Vegas market."  

Following the completion of the Chaisson acquisition, Cross-Continent will 
represent nine different manufacturers in the Las Vegas market, which 
according to recent publications ranks as one of the nations fastest growing 
metropolitan areas.

The transaction represents the company's fourth acquisition following its 
initial public offering on September 24, 1996.  On October 1, 1996, the 
company completed the acquisition of Lynn Hickey Dodge, in Oklahoma City.  On 
April 10, 1997, the company completed the acquisition of two Toyota 
dealerships located in Las Vegas, Nevada and Denver, Colorado.  On July 1, 
1997, the company completed the  acquisition of Sahara Nissan, Inc. which 
operates a Nissan dealership in Las Vegas, Nevada under the trade name Nissan 
West.

Cross-Continent Auto Retailers, Inc. owns and operates a group of franchised 
automobile dealerships in Texas, Oklahoma, Colorado and Nevada.  Through 
these dealerships, the company sells new and used cars and light trucks, 
arranges related financing and insurance, sells replacement parts and 
provides vehicle maintenance and repair services.

Cross-Continent Auto Retailers, Inc. is listed on the New York Stock Exchange 
under the symbol XC.

CROSS-CONTINENT AUTO RETAILERS, INC. BELIEVES ITS SHAREHOLDERS BENEFIT FROM 
THE VIEWS OF MANAGEMENT ABOUT THE FUTURE OF THE COMPANY'S BUSINESS.  INCLUDED 
HEREIN ARE FORWARD-LOOKING STATEMENTS, INCLUDING STATEMENTS WITH RESPECT TO 
ANTICIPATED REVENUE GROWTH, ACQUISITIONS AND PROFITABILITY.  THERE ARE MANY 
FACTORS WHICH AFFECT MANAGEMENT'S VIEWS ABOUT FUTURE EVENTS AND TRENDS OF THE 
COMPANY'S BUSINESS.  THESE FACTORS INVOLVE RISK AND UNCERTAINTIES THAT COULD 
CAUSE ACTUAL RESULTS OR TRENDS TO DIFFER MATERIALLY FROM MANAGEMENT'S VIEW, 
INCLUDING WITHOUT LIMITATION ECONOMIC CONDITIONS, RISKS ASSOCIATED WITH 
ACQUISITIONS AND THE RISK FACTORS SET FORTH FROM TIME TO TIME IN THE 
COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.