) posted a 10% year-over-year increase in retail new vehicle
sales to 25,162 units in June. The rise was attributable to
strong sales in the Domestic segment.
On same-store basis, retail new vehicle sales went up 5% to
24,107 units. June had 26 selling days this year versus 27
selling days last year.
Sales in the Domestic segment increased 15% to 8,130 vehicles.
The segment comprises retail automotive franchises that sell
vehicles manufactured by
Ford Motor Co.
), Chrysler and others.
Sales in the Import segment went up 8% to 12,460 vehicles. The
segment covers retail automotive franchises that sell vehicles
Toyota Motor Corp.
Honda Motor Co.
) and others.
Sales in the Premium Luxury segment rose 8% to 4,572 vehicles
during the month. The segment consists of retail automotive
franchises selling vehicles manufactured by Mercedes Benz, BMW,
Lexus and others.
AutoNation recorded a 10% increase in new vehicle sales to 22,515
units in Apr and 11% growth to 26,372 units in May. The company
registered nearly 10% increase in new vehicle sales to 74,049
units in the second quarter of 2013. Domestic segment sales
improved 16%. Import segment sales rose 7% and Premium Luxury
segment sales climbed 10% in the quarter.
Auto sales in the U.S. grew 9.2% to 1.40 million units in June,
translating into a 13.2% year-over-year rise to a seasonally
adjusted annual rate (SAAR) of 15.96 million units, the fastest
since Dec 2007. The year-over-year improvement was attributable
to the growing popularity of pickups among buyers together with
improvements in housing, construction and energy sectors.
In addition, strong pent-up demand, launch of new models, lower
interest on auto loans and a resilient economy leading to higher
consumer confidence had favorable impacts on the results.
Based in Fort Lauderdale, Fla, AutoNation is the largest
automotive retailer in the U.S. The company owns and operates
about 266 new vehicle franchises that sell 32 brands located in
the major metropolitan markets across 15 states.
AutoNation posted a 21.4% rise in earnings per share to 68 cents
in the first quarter of 2013 from 56 cents in the same quarter of
2012, topping the Zacks Consensus Estimate by 5 cents.
Revenues increased 10.8% to $4.1 billion, slightly ahead of the
Zacks Consensus Estimate of $4.0 billion. The revenue growth was
mainly attributable to strong new vehicle sales during the
quarter. The company retains a Zacks Rank #2 (Buy).
AUTONATION INC (AN): Free Stock Analysis
FORD MOTOR CO (F): Free Stock Analysis Report
HONDA MOTOR (HMC): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis
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