AutoNation (AN) Retail Sales Up 15% in May

AutoNation (NYSE: AN) announced that it reported to automotive manufacturers retail sales of 30,275 new vehicles in May 2014, an increase of 15% as compared to May 2013. On a same-store basis, reported retail new vehicle unit sales in May 2014 were 29,471, an increase of 12% as compared to May 2013. May 2014 reported retail new vehicle unit sales for AutoNation's operating segments were as follows:

• 9,289 for Domestic, up 12% versus May 2013,
• 15,413 for Import, up 17% versus May 2013, and
• 5,573 for Premium Luxury, up 14% versus May 2013.

Industry reporting for May 2014 includes two more calendar days than for May 2013, including one additional Saturday. Industry reporting for June 2014 will have three fewer calendar days than June 2013.

AutoNation also announced that it has signed an agreement to acquire Roundtree Chrysler Dodge Jeep Ram in Mobile, Alabama, where AutoNation currently operates Ford and Honda franchises. The annual revenue for this store is approximately $95 million. The acquisition is subject to manufacturer approval and other customary closing conditions and is expected to be completed in the third quarter of 2014.

AutoNation expects to report June 2014 retail new vehicle unit sales on Wednesday, July 2, 2014.

(1) As compared to prior total retail new vehicle unit sales recorded in accordance with GAAP on a continuing operations basis.

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