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AutoNation (AN) Reports 9% Increase in New Retail Sales for Dec.

January 6, 2016 6:39 AM EST

AutoNation, Inc. (NYSE: AN) announced that it reported to automotive manufacturers, based on their respective sales transaction reporting standards, retail sales of 35,962 new vehicles in December 2015, an increase of 9% as compared to December 2014. Unit volumes in December and the fourth quarter of 2015 were achieved with significant retail discounts, especially in the Premium Luxury segment. For the fourth quarter of 2015, AutoNation currently expects to report, with its fourth quarter financial results, a decline in both new and used gross profit per vehicle retailed in the range of $250 to $300, as compared to the fourth quarter of 2014.

"The fourth quarter industry sales environment was more push versus pull. As a consequence, we expect to report significant margin declines for the fourth quarter in both our new and used retail unit sales. We have begun, and will continue through the first quarter, to take the necessary steps to align our costs, inventory, and pricing strategy to adjust to the current market. In 2016, we expect industry new vehicle unit sales will continue to exceed 17 million," stated Mike Jackson, Chairman, CEO and President.

December 2015 reported retail new vehicle unit sales for AutoNation's operating segments were as follows:

  • 10,985 for Domestic, up 16% versus December 2014,
  • 15,985 for Import, up 9% versus December 2014, and
  • 8,992 for Premium Luxury, up 2% versus December 2014.

On a same-store basis, reported retail new vehicle unit sales in December 2015 increased 5% as compared to December 2014. Industry reporting for December 2015 includes three more calendar days than for December 2014.

Reported retail new vehicle unit sales in the fourth quarter of 2015 were 89,764, an increase of 6% as compared to the fourth quarter of 2014. Fourth quarter 2015 reported retail new vehicle unit sales for AutoNation's operating segments were as follows:

  • 27,405 for Domestic, up 10% versus fourth quarter of 2014,
  • 41,033 for Import, up 4% versus fourth quarter of 2014, and
  • 21,326 for Premium Luxury, up 4% versus fourth quarter of 2014.

On a same-store basis, reported retail new vehicle unit sales in the fourth quarter of 2015 increased 3% as compared to the fourth quarter of 2014.

Reported retail new vehicle unit sales for full year 2015 were 343,753, an increase of 7% as compared to full year 2014. Full year 2015 reported retail new vehicle unit sales for AutoNation's operating segments were as follows:

  • 107,356 for Domestic, up 10% versus full year 2014,
  • 161,108 for Import, up 3% versus full year 2014, and
  • 75,289 for Premium Luxury, up 14% versus full year 2014.

On a same-store basis, reported retail new vehicle unit sales in full year 2015 increased 5% as compared to full year 2014.

AutoNation expects to report January 2016 retail new vehicle unit sales on Wednesday, February 3, 2016.



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