The largest automotive retailer in the U.S.,
) announced the highest February retail new vehicle sales since
2007. Total retail sales of new vehicles increased 4% year over
year to 21,987 units in Feb 2014. On a same-store basis, retail
new vehicle sales went up 2% from Feb 2013 to 21,560 units.
Retail new vehicle unit sales in AutoNation's Domestic segment
rose 3% to 6,829 vehicles. The segment comprises retail
automotive franchises that sell vehicles manufactured by
Ford Motor Co.
), Chrysler and others.
Sales in AutoNation's Import segment improved 4% to 10,822
vehicles in Feb 2014. The segment covers retail automotive
franchises that sell vehicles manufactured by
Toyota Motor Corporation
Honda Motor Co., Ltd.
) and others.
In the Premium Luxury segment, AutoNation's sales increased 7% to
4,336 vehicles during the month. This segment consists of retail
automotive franchises selling vehicles manufactured by Mercedes
Benz, BMW, Lexus and others.
Although AutoNation witnessed higher sales in Feb 2014, the
overall scenario for the automobile sector was not as good. U.S.
auto sales during the month were impacted by the persistent cold
weather. Sales during the month dipped 0.03% from the year-ago
level to 1.19 million. Most of the automakers witnessed a
year-over-year decline in sales.
AutoNation reported all-time high adjusted earnings from
operations in the fourth quarter of 2013. The company posted a
24% rise in earnings per share to 83 cents in the quarter from 67
cents in the same quarter of 2012. Earnings per share surpassed
the Zacks Consensus Estimate by 6 cents.
Revenues increased 8.4% to $4.5 billion, marginally missing the
Zacks Consensus Estimate of $4.6 billion. The upside was
attributable to strong performance across all business sectors.
The company's Premium Luxury segment was the biggest gainer in
AutoNation is headquartered in Fort Lauderdale, Fla. As of Mar 4,
2014, the company owned and operated 269 new vehicle franchises
that sell 33 brands in the major metropolitan markets of 15
AutoNation currently holds a Zacks Rank #2 (Buy).
AUTONATION INC (AN): Free Stock Analysis
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TOYOTA MOTOR CP (TM): Free Stock Analysis
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