AutoNation, Inc., America’s largest automotive retailer, reports record results for the second quarter of 2013 with increases in all business segments.
Get the details on a record-breaking second quarter for AutoNation.
2013 second quarter revenue totaled $4.4 billion, compared to $3.9 billion in the year-ago period, an increase of 13%, driven by stronger performance in all of our business sectors – new vehicles, used vehicles, parts and service, and finance and insurance. AutoNation’s retail new vehicle unit sales increased 11% overall and 7% on a same store basis.
Mike Jackson, Chairman and Chief Executive Officer, said, “We delivered double-digit growth in operating income in the second quarter, driven by year-over-year gross profit growth in all of our business sectors.”
Commenting on the automotive retail environment, Mr. Jackson added, “The automotive industry continues to be a bright spot in the U.S. economy. We are particularly excited about our customer care business, where increasing units in operation should continue to support solid growth in the business for the next several years.”
Segment results for the second quarter of 2013 were as follows:
- Domestic - Domestic segment income was $66 million compared to year-ago segment income of $54 million.
- Import - Import segment income was $73 million compared to year-ago segment income of $67 million.
- Premium Luxury - Premium Luxury segment income was $76 million compared to year-ago segment income of $68 million.
For the six-month period ended June 30, 2013, the Company reported net income from continuing operations of $173 million, or $1.41 per share, compared to adjusted net income from continuing operations of $155 million, or $1.21 per share, for the same period in the prior year, an improvement of 17% on a per-share basis.