) total retail sales of new vehicles increased 1% year over year to
25,450 units in Jun 2014. On a same-store basis, retail new vehicle
sales totaled 25,141 units, in-line with the year-ago figure. Jun
2014 sales mark the best monthly sales of the company since Jun
Retail new vehicle unit sales in AutoNation's Domestic segment
declined 7% to 7,589 vehicles. The segment comprises retail
automotive franchises that sell vehicles manufactured by
Ford Motor Co.
), Chrysler and other automakers.
Sales in AutoNation's Import segment dropped 2% to 12,168 vehicles
in Jun 2014 from the corresponding month last year. The segment
covers retail automotive franchises that sell vehicles manufactured
Toyota Motor Corporation
Honda Motor Co., Ltd.
) and others.
In the Premium Luxury segment of AutoNation, sales surged 25% year
over year to 5,693 vehicles during the month. This segment consists
of retail automotive franchises which offer vehicles made by
Mercedes Benz, BMW, Lexus and other carmakers.
AutoNation registered nearly 10% increase in new vehicle sales to
81,394 units in the second quarter of 2014. With this, the company
recorded the best second-quarter sales since 2006. On a same-store
basis, retail new vehicle sales improved 7% to 79,567 units this
quarter. Domestic segment sales improved 3%, Import segment sales
rose 11% and Premium Luxury segment sales climbed 20% in the
U.S. Auto Sales
U.S. light-vehicle sales rose 1% year over year to 1.42 million in
Jun 2014. The modest increase can be attributed to the two less
selling days in Jun 2014 compared with Jun 2013. Sales on a
seasonally adjusted annualized rate (SAAR) basis increased to 17
million in Jun 2014 from the year-ago level of 15.9 million units.
This is the first month since Jul 2006 in which SAAR reached 17
AutoNation posted a 10.3% rise in earnings per share to 75 cents in
the first quarter of 2014 from 68 cents in the same quarter of
2013. However, earnings per share were in line with the Zacks
AutoNation is set to report second-quarter 2014 results on Jul 17.
In the trailing four quarters it posted an average surprise of
+0.86%. The Zacks Consensus Estimate for second quarter 2014 is 87
cents per share.
AutoNation currently carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
AUTONATION INC (AN): Free Stock Analysis Report
To read this article on Zacks.com click here.