FORT LAUDERDALE, Fla.,
Oct. 2, 2014 /PRNewswire/ --
AutoNation, Inc. (NYSE: AN), America's largest automotive retailer,
today announced that it reported to automotive manufacturers
retail sales of 84,225 new vehicles in the third quarter of 2014,
an increase of 10% as compared to the third quarter of 2013. Third
quarter 2014 reported retail new vehicle unit sales for
AutoNation's operating segments were as follows:
- 25,859 for Domestic, up 9% versus third quarter of 2013,
- 42,451 for Import, up 9% versus third quarter of 2013, and
- 15,915 for Premium Luxury, up 15% versus third quarter of
2013.
On a same-store basis, reported retail new vehicle unit sales in
the third quarter of 2014 increased 8% as compared to the third
quarter of 2013.
Reported retail new vehicle unit sales in September 2014 were 24,081, an increase of 16% as
compared to September 2013.
September 2014 reported retail new
vehicle unit sales for AutoNation's operating segments were as
follows:
- 7,356 for Domestic, up 13% versus September 2013,
- 11,599 for Import, up 18% versus September 2013, and
- 5,126 for Premium Luxury, up 17% versus September 2013.
On a same-store basis, reported retail new vehicle unit sales in
September 2014 increased 14% as
compared to September 2013. Industry
reporting for September 2014
includes one more calendar day than for September
2013.
AutoNation expects to report October
2014 retail new vehicle unit sales on Tuesday, November 4, 2014.
(1) As compared to prior total 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. Reported retail sales also includes vehicles placed into
certain manufacturer-approved demonstrator vehicle and service
loaner programs, which vehicles may be sold as new or used vehicles
under GAAP in subsequent periods. 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, reported retail sales are subject to seasonal trends.
Consequently, reported retail 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 business. 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 273 new vehicle franchises, which
sell 34 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.
Please visit investors.autonation.com, www.autonation.com,
www.twitter.com/autonation, www.twitter.com/CEOMikeJackson,
www.facebook.com/autonation, and www.facebook.com/CEOMikeJackson,
where AutoNation discloses additional information about the
Company, its business, and its results of operations.
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SOURCE AutoNation, Inc.