AutoNation Sales Rise 17% in February (AN)
The nation’s largest auto retailer, AutoNation Inc. (NYSE: AN) reported a year-over-year sales jump of 17% for the month of February. The company sold 19,994 cars last month. Here’s the breakdown: 6,179 for Domestic, up 18% versus February 2011, 10,601…
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The nation’s largest auto retailer, AutoNation Inc. (NYSE: AN) reported a year-over-year sales jump of 17% for the month of February. The company sold 19,994 cars last month.
Here’s the breakdown:
- 6,179 for Domestic, up 18% versus February 2011,
- 10,601 for Import, up 16% versus February 2011, and
- 3,214 for Premium Luxury, up 20% versus February 2011.
We noted yesterday the soaring sales reported by manufacturers, and AutoNation backs up the car makers story. The US is on a pace to sell 14 million cars this year, the first time sales could reach that level since 2008.
AutoNation operates 260 new car sales operations and sells 32 brands in 15 states, making it a pretty good indicator of US car buying habits.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
