AutoNation Announces Reported Retail Sales of 25,669 New Vehicles in April 2014, Best April since 2006 (1) - Reported retail new vehicle unit sales in April 2014 increased 14% versus April 2013
FORT LAUDERDALE, Fla., May 2, 2014 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today announced that it reported to automotive manufacturers retail sales of 25,669 new vehicles in April 2014, an increase of 14% as compared to April 2013. On a same-store basis, reported retail new vehicle unit sales in April 2014 were 24,955, an increase of 11% as compared to April 2013. April 2014 reported retail new vehicle unit sales for AutoNation's operating segments were as follows:
- 7,860 for Domestic, up 4% versus April 2013,
- 12,857 for Import, up 18% versus April 2013, and
- 4,952 for Premium Luxury, up 22% versus April 2013.
AutoNation expects to announce May 2014 reported retail new vehicle unit sales on Wednesday, June 4, 2014.
(1) As compared to prior retail new vehicle unit sales recorded in accordance with GAAP on a continuing operations basis.
The information provided in this news release is based on unaudited sales reports provided by our stores to the applicable automotive manufacturers and is provided on a continuing operations basis. These reports are prepared based on the standards established by the applicable automotive manufacturers, which differ from GAAP revenue recognition and other requirements. For example, the classification of certain transactions under the standards established by certain such manufacturers differs under GAAP. In addition, the sales reports are based on the time periods set by the automotive manufacturers for reporting monthly sales, which generally differ from the calendar month. As a result, our operating results calculated and presented in accordance with GAAP, including our new vehicle unit sales, may differ materially from any results expressed or implied by the information provided in our monthly sales reports and summarized in this news release and future news releases. In addition, new vehicle unit sales are subject to seasonal trends. Consequently, new vehicle unit sales for a particular month are not necessarily indicative of results to be expected for a full quarter or year. Please refer to our public filings with the U.S. Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2013 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, for additional information regarding our operations. Investors should not assume that our disclosure of the information in this news release means that we have determined that such information is material to the Company.
About AutoNation, Inc.
AutoNation is transforming the automotive retail industry through bold leadership. We deliver a superior automotive retail experience through our customer-focused sales and service processes. Owning and operating 270 new vehicle franchises, which sell 33 new vehicle brands across 15 states, AutoNation is America's largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer. As an indication of our leadership position in our industry, AutoNation is a component of the S&P 500 Index.
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SOURCE AutoNation, Inc.