Back to top

Analyst Blog

Zacks Equity Research

AutoNation's July Sales Jump 17% Y/Y

AN GM F TM

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Automotive retailer AutoNation Inc.’s (AN - Analyst Report) retail new vehicle sales increased 17% year-over-year to 25,403 units in July, driven by strong sales in all segments.

On a same-store basis, retail new vehicle sales rose 12% to 24,195 units. July had 25 selling days this year versus 24 selling days last year. AutoNation also achieved the feat of selling 9 million vehicles.

Sales in the Domestic segment increased 23% to 7,950 vehicles. The segment comprises retail automotive franchises that sell vehicles manufactured by Ford Motor Co. (F - Analyst Report), Chrysler and others.

Sales in the Import segment went up 14% to 13,066 vehicles. The segment covers retail automotive franchises that sell vehicles manufactured by Toyota Motor Corp. (TM - Analyst Report) and others.

Sales in the Premium Luxury segment rose 19% to 4,387 vehicles during the month. The segment consists of retail automotive franchises selling vehicles manufactured by Mercedes Benz, BMW, Lexus and others.

Auto sales in the U.S. grew 14% to 1.32 million units in July on the back of better performances by automakers including Toyota, Ford and General Motors Company (GM - Analyst Report). The year-over-year improvement was attributable to the rising demand for large pickup trucks with improvement in housing, construction and energy sectors.

In addition, the launch of new models ranging from subcompact cars to big pickup trucks, lower interest on auto loans and an improving economy are boosting consumer confidence and favorably impacting the results.

Based in Fort Lauderdale, Fla., AutoNation is the largest automotive retailer in the U.S. The company owns and operates about 267 new vehicle franchises that sell 33 brands located in the major metropolitan markets across 15 states.

AutoNation reported all-time record earnings from operations in the second quarter of 2013. The company posted a 10.6% rise in earnings per share to 73 cents in the second quarter from 66 cents in the same quarter of 2012. However, earnings per share missed the Zacks Consensus Estimate by a penny.

Revenues increased 13.4% to $4.43 billion, beating the Zacks Consensus Estimate of $4.35 billion. The revenue growth was attributable to strong performance in all business sectors along with higher revenues from used vehicles and its Finance and Insurance businesses. The company’s Domestic segment was the biggest gainer in the quarter.

AutoNation currently retains a Zacks Rank #3 (Hold).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.77 +6.05%
QUESTCOR PHA QCOR 80.07 +2.47%
VIPSHOP HOLD VIPS 156.35 +1.82%
ENLINK MIDST ENLC 36.29 +1.60%
BNC BANCORP BNCN 17.33 +1.58%