AutoNation’s Same-Store Revenues Rise 5 Pct

AutoNation, Inc. reported as part of its financial results that same-store revenue climbed 5 percent from Q4 2019 to Q4 2020, according to a Tuesday (Feb. 16) announcement.

The company reported $2,775 in same-store new vehicle gross profit per vehicle retailed, which marked an increase of $919 or 50 percent from the year-ago period. It also reported $1,565 in same-store used vehicle gross profit per vehicle retailed, which was an increase of $127 or 9 percent from the year-ago period.

In addition, the company reported $2,209 in same-store customer financial services gross profit per vehicle retailed, which was an increase of $218 or 11 percent from the year-ago period.

In Q4 2020, AutoNation repurchased 4.7 million shares of common stock for a $302 million aggregate purchase price. The company repurchased a further 1.3 million shares for a $95 million aggregate purchase price between Jan. 1, 2021 and Feb. 12, 2021.

AutoNation says it is on pace to extend its presence with five new AutoNation USA retail locations by the close of this year, with 10 further new stores next year.

“AutoNation USA stores will leverage the AutoNation brand and its proven processes for a competitive advantage,” according to the announcement.

As for its overall results, AutoNation reported $2.43 in non-GAAP adjusted diluted earnings per share (EPS) from continuing operations on $5.8 billion in revenue. The results exceeded analyst estimates of $2.01 in earnings per share on $5.56 billion in revenues.

The news comes as AutoNation, Inc. unveiled a bolstered experience for its AutoNation Express integrated retailing product.

Its Express offering highlights a search that enables customers to search through 75,000 new and used vehicles based on a monthly payment as well as the capacity to compare vehicle characteristics, including a new section focused on electric vehicles.

“Personalization is at the heart of the AutoNation Express experience. The Customer is in the Driver’s Seat and empowered to do as much or as little of the transaction online through our digital capabilities and physical stores as they choose,” according to a previous announcement.