AutoNation Reports 2010 Third Quarter Results

-- 13% growth in total third quarter revenue over the prior year, driven by 15% growth in retail vehicle revenue.

-- AutoNation was awarded seven Fiat franchises and will be the biggest Fiat dealer in the U.S.

-- Third quarter EPS from continuing operations was $0.39, an 8% increase compared to $0.36 in the prior year, which included the highly successful Cash for Clunkers program that aided our prior year results by an estimated $0.07 per share.

Oct 28, 2010, 07:15 ET from AutoNation, Inc.

FORT LAUDERDALE, Fla., Oct. 28 /PRNewswire-FirstCall/ -- AutoNation, Inc. (NYSE: AN), America's largest automotive retailer, today reported 2010 third quarter net income from continuing operations of $59 million, or $0.39 per share, compared to net income from continuing operations of $64 million, or $0.36 per share, for the same period in the prior year, an 8% improvement on a per-share basis.

AutoNation's 2010 third quarter revenue totaled $3.3 billion, compared to $2.9 billion in the year-ago period, an increase of 13%, driven primarily by stronger new and used retail vehicle revenue which increased 15%.  Based on CNW Research data, in the third quarter, total U.S. industry new retail vehicle unit sales decreased 4%.  AutoNation's new vehicle unit sales, on a same store basis, increased 1%.

AutoNation's 2010 third quarter used retail vehicle revenue increased 31% compared to the year-ago period, as retail unit sales increased 25%. Parts and service revenue increased 6% and finance and insurance revenue increased 18% compared to the third quarter 2009.

Mike Jackson, Chairman and Chief Executive Officer, said, "We delivered strong performance in the third quarter, which was driven by both new and used vehicle unit sales and revenue.  We continue to expect full year industry new vehicle unit sales to be in the range of 11.5 million new units."

AutoNation has three operating segments: Domestic, Import, and Premium Luxury. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and Chrysler; the Import segment is comprised of stores that sell vehicles manufactured primarily by Toyota, Honda, and Nissan; and the Premium Luxury segment is comprised of stores that sell vehicles manufactured primarily by Mercedes, BMW, and Lexus. Segment results for the third quarter were as follows:

  • Domestic - Domestic segment income (1) was $43 million compared to year-ago segment income of $33 million.  Third quarter Domestic retail new vehicle unit sales increased 15%.  We had a solid performance from our domestic stores, especially Ford and Chevrolet.
  • Import - Import segment income was $51 million compared to year-ago segment income of $63 million.  Third quarter Import retail new vehicle unit sales decreased 3%.
  • Premium Luxury - Premium Luxury segment income was $48 million compared to year-ago segment income of $44 million.  Third quarter Premium Luxury retail new vehicle unit sales increased 3%.

              (1) Segment income is defined as operating income less floorplan interest expense.

AutoNation also announced that it was awarded seven Fiat franchises and will be the biggest Fiat dealer in the U.S. with locations in California, Colorado, Arizona, Washington State, Virginia and Georgia.

For the nine-month period ended September 30, 2010, the Company reported adjusted net income from continuing operations of $179 million or $1.11 per share compared to $154 million or $0.87 per share for the same period in the prior year.  Adjusted net income from continuing operations excludes debt refinancing costs of $12 million after-tax, or $0.07 per share, for the nine-month period ended September 30, 2010, and a net benefit of $17 million after-tax, or $0.10 per share, primarily related to a net gain on asset sales and a gain on senior note repurchases, for the prior year period.  On a GAAP basis, net income from continuing operations for the nine-month period ended September 30, 2010 was $167 million or $1.04 per share compared to $171 million or $0.96 per share for the prior year period.  The Company's revenue for the nine-month period ended September 30, 2010 totaled $9.2 billion, up 17% compared to $7.9 billion in the prior year.

The third quarter conference call may be accessed by telephone at 888-769-8515 (password: AutoNation). The webcast will be available on AutoNation's investor relations website at corp.autonation.com/investors under "Webcasts & Presentations." A playback of the conference call will be available after 1:00 p.m. Eastern Time on October 28, 2010 through November 5, 2010 by calling 866-408-8465 (password 75300.)

About AutoNation, Inc.

AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer. A component of the Standard and Poor's 500 Index, AutoNation owns and operates 251 new vehicle franchises in 15 states. For additional information, please visit corp.AutoNation.com or www.AutoNation.com.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "continues," "may," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our expectations for the automotive retail industry, including total industry new vehicle unit sales for 2010, as well as other statements that describe our objectives, goals or plans, are forward-looking statements.  Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: economic conditions generally; conditions in the credit markets and changes in interest rates; the success and financial viability of vehicle manufacturers and distributors with which we hold franchises; factors affecting our goodwill and other intangible asset impairment testing; natural disasters and other adverse weather events; restrictions imposed by vehicle manufacturers; the resolution of legal and administrative proceedings; regulatory factors affecting our business; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.  Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

NON-GAAP FINANCIAL MEASURES

This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as adjusted net income and earnings per share from continuing operations, which exclude certain items disclosed in the attached financial tables. As required by SEC rules, the Company has provided reconciliations of these measures to the most directly comparable GAAP measures, which are set forth in the attachments to this release. The Company believes that each of the foregoing non-GAAP financial measures improves the transparency of the Company's disclosure, provides a meaningful presentation of the Company's results from its core business operations excluding the impact of items not related to the Company's ongoing core business operations, and improves the period-to-period comparability of the Company's results from its core business operations.

AUTONATION, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in millions, except per share data)

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

2010

2009

Revenue:

New vehicle

$ 1,773.3

$ 1,616.4

$ 4,890.4

$ 4,127.3

Used vehicle

812.4

637.1

2,327.7

1,852.6

Parts and service

564.1

530.8

1,648.9

1,595.6

Finance and insurance, net

111.9

95.0

311.9

259.9

Other

12.2

11.7

35.9

36.6

Total revenue

3,273.9

2,891.0

9,214.8

7,872.0

Cost of sales:

New vehicle

1,661.4

1,497.7

4,566.7

3,849.4

Used vehicle

743.2

577.7

2,122.7

1,671.9

Parts and service

318.5

300.2

927.3

897.6

Other

5.4

5.8

15.1

16.4

Total cost of sales

2,728.5

2,381.4

7,631.8

6,435.3

Gross profit

545.4

509.6

1,583.0

1,436.7

Selling, general and administrative expenses

402.9

375.5

1,159.4

1,086.7

Depreciation and amortization

18.7

19.2

57.2

57.9

Franchise rights impairment

-

-

-

1.5

Other expenses (income), net

2.9

(3.1)

4.5

(23.7)

Operating income

120.9

118.0

361.9

314.3

Floorplan interest expense

(10.8)

(7.6)

(30.2)

(26.5)

Other interest expense

(16.1)

(10.2)

(39.8)

(32.5)

Loss on debt extinguishment

-

-

(19.6)

-

Gain on senior note repurchases

-

0.5

-

13.0

Interest income

0.3

0.3

0.8

0.9

Other gains (losses), net

(0.7)

2.2

(1.1)

4.1

Income from continuing operations before income taxes

93.6

103.2

272.0

273.3

Income tax provision

35.1

38.8

104.8

101.9

Net income from continuing operations

58.5

64.4

167.2

171.4

Income (loss) from discontinued operations, net of income taxes

(1.6)

0.6

(7.9)

(35.1)

Net income

$      56.9

$      65.0

$    159.3

$    136.3

Diluted earnings (loss) per share:

Continuing operations

$      0.39

$      0.36

$      1.04

$      0.96

Discontinued operations

$    (0.01)

$      0.00

$    (0.05)

$    (0.20)

Net income

$      0.38

$      0.36

$      0.99

$      0.76

Weighted average common shares outstanding

149.6

179.2

161.4

178.4

Common shares outstanding, net of treasury stock, at September 30

148.0

175.6

148.0

175.6

AUTONATION, INC.

UNAUDITED SUPPLEMENTARY DATA

($ in millions, except per vehicle data)

Operating Highlights

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

$ Variance

% Variance

2010

2009

$ Variance

% Variance

Revenue:

New vehicle

$ 1,773.3

$ 1,616.4

$     156.9

9.7

$ 4,890.4

$ 4,127.3

$     763.1

18.5

 Retail used vehicle

732.5

558.6

173.9

31.1

2,079.1

1,630.6

448.5

27.5

 Wholesale

79.9

78.5

1.4

1.8

248.6

222.0

26.6

12.0

Used vehicle

812.4

637.1

175.3

27.5

2,327.7

1,852.6

475.1

25.6

Parts and service

564.1

530.8

33.3

6.3

1,648.9

1,595.6

53.3

3.3

Finance and insurance, net

111.9

95.0

16.9

17.8

311.9

259.9

52.0

20.0

Other

12.2

11.7

0.5

35.9

36.6

(0.7)

Total revenue

$ 3,273.9

$ 2,891.0

$     382.9

13.2

$ 9,214.8

$ 7,872.0

$  1,342.8

17.1

Gross profit:

New vehicle

$    111.9

$    118.7

$       (6.8)

(5.7)

$    323.7

$    277.9

$       45.8

16.5

 Retail used vehicle

67.9

57.8

10.1

17.5

196.9

175.7

21.2

12.1

 Wholesale

1.3

1.6

(0.3)

8.1

5.0

3.1

Used vehicle

69.2

59.4

9.8

16.5

205.0

180.7

24.3

13.4

Parts and service

245.6

230.6

15.0

6.5

721.6

698.0

23.6

3.4

Finance and insurance

111.9

95.0

16.9

17.8

311.9

259.9

52.0

20.0

Other

6.8

5.9

0.9

20.8

20.2

0.6

Total gross profit

545.4

509.6

35.8

7.0

1,583.0

1,436.7

146.3

10.2

Selling, general and administrative expenses

402.9

375.5

(27.4)

(7.3)

1,159.4

1,086.7

(72.7)

(6.7)

Depreciation and amortization

18.7

19.2

0.5

57.2

57.9

0.7

Franchise rights impairment

-

-

-

-

1.5

1.5

Other expenses (income), net

2.9

(3.1)

(6.0)

4.5

(23.7)

(28.2)

Operating income

120.9

118.0

2.9

2.5

361.9

314.3

47.6

15.1

Floorplan interest expense

(10.8)

(7.6)

(3.2)

(30.2)

(26.5)

(3.7)

Other interest expense

(16.1)

(10.2)

(5.9)

(39.8)

(32.5)

(7.3)

Loss on debt extinguishment

-

-

-

(19.6)

-

(19.6)

Gain on senior note repurchases

-

0.5

(0.5)

-

13.0

(13.0)

Interest income

0.3

0.3

-

0.8

0.9

(0.1)

Other gains (losses), net

(0.7)

2.2

(2.9)

(1.1)

4.1

(5.2)

Income from continuing operations before income taxes

$      93.6

$    103.2

$       (9.6)

(9.3)

$    272.0

$    273.3

$       (1.3)

(0.5)

Retail vehicle unit sales:

  New

56,121

54,470

1,651

3.0

153,305

135,761

17,544

12.9

  Used

42,904

34,208

8,696

25.4

121,020

101,762

19,258

18.9

99,025

88,678

10,347

11.7

274,325

237,523

36,802

15.5

Revenue per vehicle retailed:

  New

$  31,598

$  29,675

$     1,923

6.5

$  31,900

$  30,401

$     1,499

4.9

  Used

$  17,073

$  16,330

$        743

4.5

$  17,180

$  16,024

$     1,156

7.2

Gross profit per vehicle retailed:

  New

$    1,994

$    2,179

$      (185)

(8.5)

$    2,111

$    2,047

$          64

3.1

  Used

$    1,583

$    1,690

$      (107)

(6.3)

$    1,627

$    1,727

$      (100)

(5.8)

  Finance and insurance

$    1,130

$    1,071

$          59

5.5

$    1,137

$    1,094

$          43

3.9

Operating Percentages

Three Months Ended September 30,

Nine Months Ended September 30,

2010 (%)

2009 (%)

2010 (%)

2009 (%)

Revenue mix percentages:

New vehicle

54.2

55.9

53.1

52.4

Used vehicle

24.8

22.0

25.3

23.5

Parts and service

17.2

18.4

17.9

20.3

Finance and insurance, net

3.4

3.3

3.4

3.3

Other

0.4

0.4

0.3

0.5

100.0

100.0

100.0

100.0

Gross profit mix percentages:

New vehicle

20.5

23.3

20.4

19.3

Used vehicle

12.7

11.7

13.0

12.6

Parts and service

45.0

45.3

45.6

48.6

Finance and insurance

20.5

18.6

19.7

18.1

Other

1.3

1.1

1.3

1.4

100.0

100.0

100.0

100.0

Operating items as a percentage of revenue:

Gross profit:

  New vehicle

6.3

7.3

6.6

6.7

  Used vehicle - retail

9.3

10.3

9.5

10.8

  Parts and service

43.5

43.4

43.8

43.7

  Total

16.7

17.6

17.2

18.3

Selling, general and administrative expenses

12.3

13.0

12.6

13.8

Operating income

3.7

4.1

3.9

4.0

Operating items as a percentage of total gross profit:

Selling, general and administrative expenses

73.9

73.7

73.2

75.6

Operating income

22.2

23.2

22.9

21.9

AUTONATION, INC.

UNAUDITED SUPPLEMENTARY DATA

($ in millions, except per vehicle data)

Segment Operating Highlights

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

$ Variance

% Variance

2010

2009

$ Variance

% Variance

Revenue:

Domestic

$ 1,102.6

$    905.6

$     197.0

21.8

$ 3,048.7

$ 2,504.2

$     544.5

21.7

Import

1,275.1

1,187.4

87.7

7.4

3,523.9

3,073.0

450.9

14.7

Premium luxury

863.3

775.3

88.0

11.4

2,546.3

2,213.3

333.0

15.0

Corporate and other

32.9

22.7

10.2

44.9

95.9

81.5

14.4

17.7

Total revenue

$ 3,273.9

$ 2,891.0

$     382.9

13.2

$ 9,214.8

$ 7,872.0

$  1,342.8

17.1

*Segment income (loss)

Domestic

$      42.5

$      32.9

$         9.6

29.2

$    115.9

$      79.6

$       36.3

45.6

Import

51.3

62.9

(11.6)

(18.4)

153.6

134.1

19.5

14.5

Premium luxury

47.7

43.5

4.2

9.7

142.8

127.3

15.5

12.2

Corporate and other

(31.4)

(28.9)

(2.5)

(80.6)

(53.2)

(27.4)

Total segment income

110.1

110.4

(0.3)

(0.3)

331.7

287.8

43.9

15.3

Add:  Floorplan interest expense

10.8

7.6

3.2

30.2

26.5

3.7

Operating income

$    120.9

$    118.0

$         2.9

2.5

$    361.9

$    314.3

$       47.6

15.1

* Segment income (loss) is defined as operating income less floorplan interest expense

Retail new vehicle unit sales:

Domestic

17,635

15,283

2,352

15.4

47,762

38,957

8,805

22.6

Import

29,858

30,792

(934)

(3.0)

80,676

74,008

6,668

9.0

Premium luxury

8,628

8,395

233

2.8

24,867

22,796

2,071

9.1

56,121

54,470

1,651

3.0

153,305

135,761

17,544

12.9

Brand Mix - New Vehicle Retail Units Sold

Three Months Ended September 30,

Nine Months Ended September 30,

2010 (%)

2009 (%)

2010 (%)

2009 (%)

Domestic:

  Ford, Lincoln-Mercury

17.2

14.4

16.9

14.4

  Chevrolet, Pontiac, Buick, Cadillac, GMC

11.4

11.1

11.7

11.1

  Chrysler, Jeep, Dodge

2.8

2.6

2.6

3.2

    Domestic total

31.4

28.1

31.2

28.7

Import:

  Honda

12.7

14.9

13.6

14.9

  Toyota

20.9

20.9

19.5

20.3

  Nissan

12.3

14.1

12.5

12.5

  Other imports

7.3

6.6

7.0

6.8

    Import total

53.2

56.5

52.6

54.5

Premium Luxury:

  Mercedes

7.4

7.5

7.8

8.1

  BMW

4.4

4.2

4.5

4.5

  Lexus

2.2

2.3

2.5

2.5

  Other premium luxury (Land Rover, Porsche)

1.4

1.4

1.4

1.7

    Premium Luxury total

15.4

15.4

16.2

16.8

100.0

100.0

100.0

100.0

AUTONATION, INC.

UNAUDITED SUPPLEMENTARY DATA, Continued

($ in millions, except per share data)

Capital Expenditures / Stock and Debt Repurchases

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

2010

2009

Capital expenditures

$          40.0

$        6.4

$          80.3

$ 40.5

Acquisitions

$          60.6

$            -

$          73.1

$   0.2

Proceeds from exercises of stock options

$          24.5

$      13.7

$          30.1

$ 23.5

Senior note repurchases (aggregate principal)

$                -

$      10.4

$                -

$ 88.4

Stock repurchases:

Aggregate purchase price

$          55.0

$      66.1

$        506.6

$ 66.1

Shares repurchased (in millions)

2.9

3.7

25.9

3.7

Floorplan Assistance and Expense

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

Variance

2010

2009

Variance

Floorplan assistance earned (included in cost of sales)

$          14.8

$      13.7

$            1.1

$ 41.2

$ 34.5

$         6.7

Floorplan interest expense (new vehicles)

(10.1)

(7.0)

(3.1)

(28.6)

(24.9)

(3.7)

Net new vehicle inventory carrying benefit

$            4.7

$        6.7

$          (2.0)

$ 12.6

$   9.6

$         3.0

Balance Sheet and Other Highlights

September 30, 2010

December 31, 2009

September 30, 2009

Cash and cash equivalents

$          84.5

$    173.5

$        204.3

Inventory

$     1,739.8

$ 1,392.8

$     1,150.8

Total floorplan notes payable

$     1,632.8

$ 1,374.6

$     1,052.7

Non-vehicle debt

$     1,380.6

$ 1,112.6

$     1,114.4

Equity

$     2,005.2

$ 2,303.2

$     2,311.3

New days supply (industry standard of selling

days, including fleet)

57 days

55 days

48 days

Used days supply (trailing 30 days)

46 days

41 days

48 days

Key Credit Agreement Covenant Compliance Calculations

Ratio of funded indebtedness/  

Adjusted EBITDA                                                                                                         2.64

Covenant                                                                                          less than             3.25

Ratio of funded indebtedness including floorplan/  

Total capitalization including floorplan                                                                         46.1%

Covenant                                                                                         less than              60.0%

AUTONATION, INC.

UNAUDITED SUPPLEMENTARY DATA, Continued

($ in millions, except per share data)

Comparable Basis Reconciliations*

Three Months Ended September 30,

Net Income

Diluted Earnings Per Share**

2010

2009

2010

2009

As reported

$   56.9

$   65.0

$ 0.38

$  0.36

Discontinued operations, net of income taxes

1.6

(0.6)

$ 0.01

$ (0.00)

From continuing operations, as reported

58.5

64.4

$ 0.39

$  0.36

Adjusted

$   58.5

$   64.4

$ 0.39

$  0.36

Nine Months Ended September 30,

Net Income

Diluted Earnings Per Share**

2010

2009

2010

2009

As reported

$ 159.3

$ 136.3

$ 0.99

$  0.76

Discontinued operations, net of income taxes

7.9

35.1

$ 0.05

$  0.20

From continuing operations, as reported

167.2

171.4

$ 1.04

$  0.96

Loss on debt extinguishment

12.1

-

$ 0.07

$      -

Net gain on asset sales and dispositions

-

(9.6)

$     -

$ (0.05)

Gain on senior note repurchases

-

(8.1)

$     -

$ (0.05)

Property and other impairments

-

0.7

$     -

$  0.00

Adjusted

$ 179.3

$ 154.4

$ 1.11

$  0.87

 * Please refer to the "Non-GAAP Financial Measures" section of the Press Release.  

 ** Earnings per share amounts are calculated discretely and therefore may not add up to the total.  

AUTONATION, INC.

UNAUDITED SAME STORE DATA

($ in millions, except per vehicle data)

Operating Highlights

Three Months Ended September 30,

Nine Months Ended September 30,

2010

2009

$ Variance

% Variance

2010

2009

$ Variance

% Variance

Revenue:

New vehicle

$ 1,743.1

$ 1,616.4

$     126.7

7.8

$ 4,842.9

$ 4,117.9

$     725.0

17.6

 Retail used vehicle

722.0

558.6

163.4

29.3

2,058.6

1,623.0

435.6

26.8

 Wholesale

75.2

78.5

(3.3)

(4.2)

240.6

220.0

20.6

9.4

Used vehicle

797.2

637.1

160.1

25.1

2,299.2

1,843.0

456.2

24.8

Parts and service

552.3

530.8

21.5

4.1

1,627.3

1,591.0

36.3

2.3

Finance and insurance, net

110.1

95.0

15.1

15.9

309.4

259.2

50.2

19.4

Other

11.9

11.7

0.2

35.2

35.1

0.1

Total revenue

$ 3,214.6

$ 2,891.0

$     323.6

11.2

$ 9,114.0

$ 7,846.2

$  1,267.8

16.2

Gross profit:

New vehicle

$    109.5

$    118.8

$       (9.3)

(7.8)

$    320.1

$    277.9

$       42.2

15.2

 Retail used vehicle

66.7

57.8

8.9

15.4

194.9

174.4

20.5

11.8

 Wholesale

1.3

1.6

(0.3)

8.0

5.1

2.9

Used vehicle

68.0

59.4

8.6

14.5

202.9

179.5

23.4

13.0

Parts and service

240.3

230.8

9.5

4.1

712.1

696.5

15.6

2.2

Finance and insurance

110.1

95.0

15.1

15.9

309.4

259.2

50.2

19.4

Other

6.7

6.1

0.6

20.5

19.8

0.7

Total gross profit

$    534.6

$    510.1

$       24.5

4.8

$ 1,565.0

$ 1,432.9

$     132.1

9.2

Retail vehicle unit sales:

  New

54,892

54,470

422

0.8

151,601

135,456

16,145

11.9

  Used

42,240

34,208

8,032

23.5

119,844

101,193

18,651

18.4

97,132

88,678

8,454

9.5

271,445

236,649

34,796

14.7

Revenue per vehicle retailed:

  New

$  31,755

$  29,675

$     2,080

7.0

$  31,945

$  30,400

$     1,545

5.1

  Used

$  17,093

$  16,330

$        763

4.7

$  17,177

$  16,039

$     1,138

7.1

Gross profit per vehicle retailed:

  New

$    1,995

$    2,181

$      (186)

(8.5)

$    2,111

$    2,052

$          59

2.9

  Used

$    1,579

$    1,690

$      (111)

(6.6)

$    1,626

$    1,723

$        (97)

(5.6)

  Finance and insurance

$    1,134

$    1,071

$          63

5.9

$    1,140

$    1,095

$          45

4.1

Operating Percentages

Three Months Ended September 30,

Nine Months Ended September 30,

2010 (%)

2009 (%)

2010 (%)

2009 (%)

Revenue mix percentages:

New vehicle

54.2

55.9

53.1

52.5

Used vehicle

24.8

22.0

25.2

23.5

Parts and service

17.2

18.4

17.9

20.3

Finance and insurance, net

3.4

3.3

3.4

3.3

Other

0.4

0.4

0.4

0.4

100.0

100.0

100.0

100.0

Gross profit mix percentages:

New vehicle

20.5

23.3

20.5

19.4

Used vehicle

12.7

11.6

13.0

12.5

Parts and service

44.9

45.2

45.5

48.6

Finance and insurance

20.6

18.6

19.8

18.1

Other

1.3

1.3

1.2

1.4

100.0

100.0

100.0

100.0

Operating items as a percentage of revenue:

Gross Profit:

  New vehicle

6.3

7.3

6.6

6.7

  Used vehicle - retail

9.2

10.3

9.5

10.7

  Parts and service

43.5

43.5

43.8

43.8

  Total

16.6

17.6

17.2

18.3

SOURCE AutoNation, Inc.



RELATED LINKS

http://corp.autonation.com