Latest news with #AutoNation
Motor 1
3 days ago
- Automotive
- Motor 1
Woman Has 2023 Hyundai Elantra. Then She Tries to Trade It for a Honda from AutoNation of Toyota In Las Vegas
A woman on TikTok recently shared her horrible car-buying experience at AutoNation of Toyota in Las Vegas. Juliana (@ wanted to trade in her 2023 Hyundai Elantra after being dissatisfied with the car due to ongoing issues. Well, the new car she picked out ended up being the same story. Juliana says she went to AutoNation of Las Vegas after finding a Honda online that she liked. 'The former Honda owner was a car guy. He had aftermarket taillights, muffler delete, full tint, and additional cosmetic accessories on the car,' she shares. Juliana didn't mind the aftermarket parts on the Honda and wanted to keep some of the cosmetic upgrades. She says AutoNation gave her a high appraisal for her 2023 Hyundai Elantra, and she was ready to complete the trade-in. 'You can take that [expletive] Elantra. I'm going to take this Honda,' Juliana says. She says financing discussions went smoothly, and the trade went through. However, not everything went well afterward. There Should Never Have Been a Sticker She says she noticed her Honda wasn't very clean when she went to pick it up. She demanded that the shop redo the cleaning job. Additionally, she noticed some of the aftermarket features were missing after she requested workers to leave them on. The shop re-cleaned the Honda, but Juliana noticed part of the front tint had been ripped off. She says the mechanics ripped the tint while trying to remove a car wash sticker. 'I worked at a car wash, and there never should have been a sticker on the windshield with the tint. The tint will come off with the sticker,' one TikTok commenter said. At first, the dealership agreed to fix the tint, but then declined after realizing it was never supposed to sell Juliana the car with the windshield tint because the percentage was too high. Was an AirTag and a Flat Tire Included In the Deal? The trouble continued after leaving the dealership. While driving, Juliana's boyfriend hears an Apple AirTag noise going off in the car. Considering this is her car now, it's concerning to be monitored and tracked by the previous owner's AirTag. Juliana asks the dealership to contact the old owner about the AirTag and to remove it. The AirTag is under one of the seats; however, the previous owner and the mechanics couldn't locate it anywhere. The dealership tells Juliana the previous owner will come the following day to disconnect the AirTag from his account, and they will watch him, which she accepts. Moments after leaving the dealership, the Honda's tire pressure monitor sensor (TPMS) goes off. The TPMS warning appears, and Juliana hears a few thunks. She says it turned out that her tire had gone completely flat, and the thunks were her driving on her rim. 'I had no idea it was flat until I parked it,' she shares. The shop refills the tire with air and informs her that if the issue happens again, it'll pay for a tow truck. The next trip Juliana takes, the TPMS goes off, leaving her with a flat tire again. After another trip back to the shop, her tire is replaced because the mechanics couldn't locate the leaks in her old tire. Now, the Taillights Are Out To add salt to the wound, Juliana's taillights break. Once again, she finds herself at the dealership with a new issue, just to be told it can't be fixed. 'I'm upset they couldn't fix the aftermarket taillights. They were really cute,' she says. The mechanics didn't specialize in servicing those aftermarket taillights and couldn't diagnose the issue. They replaced her headlights while her car was still under warranty, noting that if they had fixed the aftermarket ones and they broke a year later, it would be a $1,000 expense, which Juliana didn't want to take on. 'After owning my car for two days, I no longer have my car. The taillights are on backorder. This has been one of the most exhausting and frustrating things,' she vents. Juliana told Motor1 via email, 'Car buying is somewhat like gambling. Sometimes you sink a lot of money into something that doesn't work, other times you put a couple bucks into a machine that gives a grand prize. You can know everything there is to know about every car, every dealership, but you never know what's gonna happen till you sit down and put your money down.' Should You Buy a Car with Aftermarket Parts? Aftermarket parts are replacement components for vehicles that are not made by the original equipment manufacturer (OEM), Investopedia reports. According to AutoZone , aftermarket parts can cost 20 to 50% less than similar OEM parts in many cases. OEM parts typically cost more because of the brand name, the fact that they go through manufacturer-specific quality checks, and dealership prices are often higher. OEM parts should be chosen when dealing with newer cars under warranty, leased vehicles, and high-tech electronic parts that may require dealership programming. Aftermarket parts are a better option when dealing with older cars or out-of-warranty models, routine maintenance updates, or performance upgrades. Ultimately, whether to purchase a car with aftermarket parts comes down to buyers' priorities about cost and whether the car is under warranty. What to Do If Your Used Car From the Dealership Has a Bunch of Problems? An auto warranty is a promise to fix certain defects or malfunctions during a specific timeframe after you buy a vehicle, the Federal Trade Commission reports. All used car dealers are required by federal law to tell buyers whether a used car is being sold with or without a warranty, the Texas Attorney General shares. The buyer's guide will state 'as is' or "warranty" when buying. 'As is' acknowledges the vehicle does not have a warranty, and the seller is under no obligation for repairs. If the car is under 'warranty,' the seller must list exactly what parts and services are covered and the duration of coverage. So, if the car that was purchased has issues with a warranty, it's best to have the dealership take care of those issues while covered under warranty. If the car is repeatedly having issues while under warranty, it may be classified as a 'lemon.' According to Progressive , a "lemon" is a term for a car with a significant defect or malfunction that makes it unsafe to drive. Lemon laws require the manufacturer to repair your vehicle and, if it cannot do so after a reasonable number of attempts, it must either replace or refund your vehicle, the Better Business Bureau (BBB) reports. Each state creates its own laws for vehicles experiencing issues, Kelley Blue Book shares. The BBB has also broken down each state's lemon laws. Commenters Chime In In the comments section, viewers suggested avoiding buying a car with aftermarket parts and that Juliana should consider returning her Honda. 'I would never buy a car with a bunch of aftermarket parts, they always cause problems,' one TikTok commenter shared. 'I would return it and buy a new one at this point,' another replied. Motor1 has contacted AutoNation of Honda Las Vegas via phone. It contacted AutoNation's corporate office via press email. This story will be updated if AutoNation responds. Now Trending 'I'm So Sorry For Wasting Y'all's Time:' Woman Notices a 'Burning' Smell in Her New Car. The Mechanic Says Something Unexpected 'I'd Divorce:' California BMW Salesman Says the Husband Found Out Something About His Wife at Close. Now They Can't Get Approved Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Business Insider
3 days ago
- Automotive
- Business Insider
AutoNation (AN) Gets a Hold from Wells Fargo
In a report released on July 25, Colin Langan from Wells Fargo maintained a Hold rating on AutoNation, with a price target of $221.00. The company's shares closed last Friday at $203.25. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Langan covers the Consumer Cyclical sector, focusing on stocks such as Tesla, BorgWarner, and Autoliv. According to TipRanks, Langan has an average return of -5.8% and a 49.13% success rate on recommended stocks. In addition to Wells Fargo, AutoNation also received a Hold from J.P. Morgan's Rajat Gupta CFA in a report issued on July 17. However, on July 25, Bank of America Securities maintained a Buy rating on AutoNation (NYSE: AN). AN market cap is currently $7.66B and has a P/E ratio of 12.73. Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AN in relation to earlier this year. Most recently, in May 2025, C Coleman Edmunds, the EVP, Gen Counsel & Corp Sec of AN sold 12,324.00 shares for a total of $2,347,105.80.
Yahoo
5 days ago
- Automotive
- Yahoo
AutoNation Inc (AN) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic Expansion
Total Revenue: $7 billion, an increase of 8% year-over-year on both total and same-store basis. Same-Store Gross Profit: $1.3 billion, up 10% from a year ago. Gross Profit Margin: 18.3% of revenue, up 40 basis points from a year ago. Adjusted SG&A: 66.2%, at the lower end of the 66% to 67% range. Adjusted Operating Income Margin: 5.3%, increased from a year ago and from the first quarter. Adjusted Net Income: $209 million, up 29% from a year ago. Adjusted EPS: $5.46, an increase of 37% from a year ago. New Vehicle Unit Volumes: Increased 7% from a year ago on a total store and 8% on a same-store basis. Used Vehicle Retail Unit Sales: Improved by 6% year-over-year on a same-store basis. Customer Financial Services Gross Profit: Up 13% on a same-store basis. After-Sales Revenue: Up 12% year-over-year on a same-store basis. After-Sales Gross Margin: 49%, up 100 basis points from a year ago. Adjusted Free Cash Flow: $394 million for the first half, 100% of adjusted net income. Capital Expenditures: $154 million for the first half of 2025, 15% lower than 2024. Leverage: 2.33 times EBITDA, down from 2.56 times EBITDA at the end of March. Warning! GuruFocus has detected 10 Warning Signs with AN. Release Date: July 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points AutoNation Inc (NYSE:AN) reported an 8% increase in new vehicle sales, with significant growth in the Domestic segment. Used vehicle gross profit increased by 13% year-over-year, supported by strong unit sales and stable profitability. Customer Financial Services gross profit rose by 13%, with stable finance penetration and strong product attachment rates. After-Sales revenue and gross profit grew by more than 12%, with improved technician efficiency and increased headcount. AutoNation Finance saw a doubling of originations and completed a successful asset-backed securitization, enhancing profitability. Negative Points The second quarter was impacted by a tariff-related shift of volume into the first quarter, affecting overall performance. A noncash impairment charge of $123 million was recorded, primarily related to the Mobile Service business and franchise rights. New vehicle inventory days of supply decreased, indicating potential challenges in maintaining stock levels. The company faces ongoing uncertainty regarding tariffs and their impact on OEM pricing and dealer margins. Competition in the used vehicle market remains intense, with challenges in securing inventory due to lower new vehicle production during COVID. Q & A Highlights Q: Could you discuss AutoNation's approach to mergers and acquisitions (M&A) and any potential international expansion? A: Thomas Szlosek, CFO, mentioned that AutoNation has been cautious with share repurchases due to tariff uncertainties but sees improvement in the M&A pipeline. CEO Michael Manley added that the company focuses on "tuck-ins" in existing markets to unlock synergies and is open to international opportunities if they enhance earnings per share. Q: What are your thoughts on the recent pickup in sales after a slow start in July, and how do you see demand and dealer margins evolving? A: CEO Michael Manley noted that while there have been fluctuations, he expects a 5-10% improvement in sales. He anticipates stability in dealer margins for the rest of the year, with potential fluctuations due to OEM actions and market conditions. Q: Can you provide an update on AutoNation Finance's portfolio growth and profitability outlook? A: CFO Thomas Szlosek stated that AutoNation Finance is expected to continue growing its penetration, particularly in used vehicles. The business has improved profitability and is expected to scale well, with stable fixed costs and improving credit metrics. Q: How is AutoNation addressing pricing and volume in the After-Sales business, and what are the expectations for the second half? A: CEO Michael Manley explained that the company is balancing volume and pricing, focusing on competitive labor pricing and managing OEM parts pricing. He expects continued volume growth and limited price increases, with a focus on technician workforce development. Q: What is the strategy for AutoNation USA given the scarcity of used inventory? A: CEO Michael Manley stated that AutoNation USA's growth will be deliberate, focusing on markets with existing density to leverage synergies. The company is optimizing product offerings to minimize overlap and enhance market presence. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
5 days ago
- Automotive
- Yahoo
AutoNation Tops Second-Quarter Views Amid Higher Car Prices
AutoNation (AN) reported stronger-than-expected results for the second quarter on Friday as increase Sign in to access your portfolio
Yahoo
6 days ago
- Automotive
- Yahoo
AutoNation Reports Second Quarter 2025 Results
Revenue up 8% driven by New Vehicle, Customer Financial Services, and After-Sales growth EPS $2.26 (down 29%), Adjusted EPS $5.46 (up 37%) Record After-Sales gross profit of $599 million - up 12% year-over-year Completed highly successful $700 million AN Finance asset-backed securitization FORT LAUDERDALE, Fla., July 25, 2025 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN) today reported second quarter 2025 revenue of $7.0 billion, an increase of 8% compared to the same period a year ago. Second quarter 2025 EPS was $2.26 compared to $3.20 a year ago, and second quarter 2025 Adjusted EPS was $5.46, increasing from $3.99 a year ago. Reconciliations of non-GAAP financial measures are included in the attached financial tables. "We are pleased to report another quarter of strong performance, with robust growth across the entire business, including double-digit growth in Customer Financial Services and After-Sales, and improved new vehicle market share. Execution and productivity were also strong, with gross profits improving 40 basis points as a percentage of revenue," said Mike Manley, Chief Executive Officer of AutoNation. "Cash flow was solid in the quarter and the demand for our AN Finance asset securitization was outstanding, enabling an upsizing of the offering, a lowering of the rate, and the attainment of nearly 100% debt funding. AutoNation's multiple revenue streams, flexible cost structure, cash flow generation, and balance sheet position us to continue delivering outstanding results and deploying capital to generate attractive shareholder returns," Manley concluded. Operational SummarySecond quarter 2025 compared to the year-ago period: Selected GAAP Financial Data (In millions, except per share data and unit sales) Three Months Ended June 30, 20252024YoY Revenue$ 6,974.4$ 6,480.48 % Gross Profit$ 1,275.4$ 1,163.110 % Operating Income$ 217.6$ 275.0-21 % Net Income$ 86.4$ 130.2-34 % Diluted EPS$ 2.26$ 3.20-29 % Diluted weighted average common shares outstanding38.340.7-6 %Same-store Revenue$ 6,904.1$ 6,383.48 % Same-store Gross Profit$ 1,263.4$ 1,145.810 %Same-store New Vehicle Retail Unit Sales65,33460,6088 % Same-store Used Vehicle Retail Unit Sales68,39864,3646 % Selected Non-GAAP Financial Data* ($ in millions, except per share data) Three Months Ended June 30, 20252024YoY Adjusted Operating Income $ 369.3$ 318.516 % Adjusted Net Income$ 209.2$ 162.529 % Adjusted Diluted EPS$ 5.46$ 3.9937 % *Reconciliations of non-GAAP financial measures are included in the attached financial tables. 2025 Adjusted Diluted EPS excludes after-tax non-cash goodwill, franchise rights, and other asset impairments of $123 million, or $3.21 per share. 2024 Adjusted Diluted EPS excludes one-time after-tax costs associated with the CDK outage of $32 million, or $0.79 per share. Same-store Revenue – $6.9 billion, increased $521 million or 8% from a year ago, primarily reflecting increased new vehicle unit sales and higher average new vehicle selling prices. New Vehicle Revenue – $3.4 billion, an increase of $283 million or 9%. Used Vehicle Revenue – $2.0 billion, an increase of $71 million or 4%. After-Sales Revenue – $1.2 billion, an increase of $125 million or 12%. Customer Financial Services Revenue – $363 million, an increase of $43 million or 13%. Same-store Gross Profit – $1.3 billion, an increase of $118 million or 10% from a year ago. New Vehicle Gross Profit – $183 million, a decrease of $6 million reflecting unit profitability of $2,795 compared to $3,113 a year ago, partially offset by an 8% increase in unit sales. Used Vehicle Gross Profit – $124 million, an increase of $13 million reflecting a 6% increase in unit sales and stable unit profitability of $1,627 compared to $1,642 a year ago. After-Sales Gross Profit – $594 million, an increase of $68 million or 13%. Customer Financial Services Gross Profit – $363 million, an increase of $43 million or 13%, reflecting a 7% increase in retail unit sales and unit profitability of $2,711 compared to $2,561 a year ago. SG&A as a Percentage of Gross Profit – was 67.0%, or 66.2% on an adjusted basis, down from 67.3% on an adjusted basis in the prior year. Segment Results Segment results(1) for the second quarter of 2025 were as follows: Domestic – Domestic Segment Income(2) was $92 million compared to $50 million a year ago, an increase of 83%. Revenue of $1.9 billion was up 10%. Import – Import Segment Income(2) was $133 million compared to $108 million a year ago, an increase of 23%. Revenue of $2.1 billion was up 6%. Premium Luxury – Premium Luxury Segment Income(2) was $180 million compared to $142 million a year ago, an increase of 27%. Revenue of $2.6 billion was up 7%. AutoNation Finance – AutoNation Finance income was $2 million compared to $1 million a year ago. Year-over-year results reflect higher net interest margin and continued operating efficiencies, partially offset by higher non-cash credit provisioning related to significant loan origination growth. Capital Allocation, Liquidity, and Leverage For the first six months ended June 30, 2025, cash used in operating activities was $230 million, auto loans receivable, net, increased $695 million, capital expenditures were $154 million, and adjusted free cash flow was $394 million, or 100% of adjusted net income. During the first half of 2025, AutoNation repurchased 1.5 million shares of common stock for an aggregate purchase price of $254 million, or approximately $164 per share. AutoNation has more than $607 million of repurchase authorization remaining under its current share repurchase program. As of June 30, 2025, AutoNation had $1.8 billion of liquidity, including $63 million in cash and $1.8 billion of availability under its revolving credit facility, net of commercial paper borrowings. The Company's covenant leverage ratio was 2.33x at quarter end and the Company had $3.8 billion of non-vehicle debt outstanding. During the second quarter of 2025, we completed our inaugural asset-backed term securitization, generating $700 million in funding for our auto loan portfolio at a weighted-average fixed interest rate of 4.90%. Year-to-date 2025 compared to the year-ago period: Selected GAAP Financial Data (In millions, except per share data and unit sales ) Six Months Ended June 30, 20252024YoY Revenue$ 13,664.8$ 12,966.15 % Gross Profit$ 2,495.3$ 2,361.06 % Operating Income$ 553.6$ 615.3-10 % Net Income$ 261.9$ 320.3-18 % Diluted EPS$ 6.73$ 7.72-13 % Diluted weighted average common shares outstanding38.941.5-6 %Same-store Revenue$ 13,559.1$ 12,764.26 % Same-store Gross Profit$ 2,477.0$ 2,324.87 %Same-store New Vehicle Retail Unit Sales127,713118,8357 % Same-store Used Vehicle Retail Unit Sales135,185132,2142 %Selected Non-GAAP Financial Data* ($ in millions, except per share data) Six Months Ended June 30, 20252024YoY Adjusted Operating Income $ 703.7$ 666.16 % Adjusted Net Income$ 393.4$ 352.612 % Adjusted Diluted EPS$ 10.11$ 8.5019 % *Reconciliations of non-GAAP financial measures are included in the attached financial tables. Same-store Revenue – $13.6 billion, increased $795 million or 6% from a year ago, primarily reflecting increased new vehicle unit sales and higher average new vehicle selling prices. New Vehicle Revenue – $6.6 billion, an increase of $584 million or 10%. Used Vehicle Revenue – $3.8 billion, an increase of $3 million or relatively flat. After-Sales Revenue – $2.4 billion, an increase of $149 million or 7%. Customer Financial Services Revenue – $712 million, an increase of $61 million or 9%. Same-store Gross Profit – $2.5 billion, an increase of $152 million or 7% from a year ago. New Vehicle Gross Profit – $357 million, a decrease of $26 million reflecting unit profitability of $2,798 compared to $3,222 a year ago, partially offset by a 7% increase in unit sales. Used Vehicle Gross Profit – $247 million, an increase of $27 million reflecting unit profitability of $1,650 compared to $1,559 a year ago and a 2% increase in unit sales. After-Sales Gross Profit – $1.2 billion, an increase of $90 million or 8%. Customer Financial Services Gross Profit – $712 million, an increase of $61 million or 9%, reflecting a 5% increase in retail unit sales and unit profitability of $2,707, compared to $2,591 a year ago. SG&A as a Percentage of Gross Profit – was 67.2%, or 66.8% on an adjusted basis, up from 66.4% on an adjusted basis in the prior year. Segment Results Segment results(1) for the first six months of 2025 were as follows: Domestic – Domestic Segment Income(2) was $161 million compared to $126 million a year ago, an increase of 28%. Revenue of $3.6 billion was up 4%. Import – Import Segment Income(2) was $260 million compared to $237 million a year ago, an increase of 10%. Revenue of $4.2 billion was up 5%. Premium Luxury – Premium Luxury Segment Income(2) was $359 million compared to $314 million a year ago, an increase of 14%. Revenue of $5.1 billion was up 7%. AutoNation Finance – AutoNation Finance income was $2 million compared to a loss of $4 million a year ago. Year-over-year results reflect higher net interest margin and continued operating efficiencies, partially offset by higher non-cash credit provisioning related to significant loan origination growth. The second quarter conference call may be accessed by telephone at 833-470-1428 (Conference ID:114047) at 9:00 a.m. Eastern Time today or on AutoNation's investor relations website at The webcast will also be available on AutoNation's website following the call under "Events & Presentations." A playback of the conference call will be available after 12:00 p.m. Eastern Time on July 25, 2025, through August 15, 2025, by calling 866-813-9403 (Conference ID: 601794). Additional information regarding AutoNation's results can be found in the Investor Presentation available at (1) AutoNation has four reportable segments: Domestic, Import, Premium Luxury, and AutoNation Finance. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and Stellantis; the Import segment is primarily comprised of stores that sell vehicles manufactured by Toyota, Honda, Hyundai, Subaru, and Nissan; and the Premium Luxury segment is primarily comprised of stores that sell vehicles manufactured by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. AutoNation Finance is our captive auto finance company, which provides indirect financing to qualified retail customers on vehicles we sell. (2) Segment income for the Domestic, Import, and Premium Luxury reportable segments is defined as operating income less floorplan interest expense and is a non-GAAP measure. About AutoNation, Inc. AutoNation, one of the largest automotive retailers in the United States, offers innovative products and exceptional services as part of a portfolio of comprehensive solutions for our customers and their automotive needs. With a nationwide network of dealerships strengthened by a recognized brand, we offer a wide variety of new and used vehicles, customer financing, parts, and expert maintenance and repair services. Through DRV PNK, we have raised over $40 million for cancer-related causes, demonstrating our commitment to making a positive difference in the lives of our Associates, Customers, and the communities we serve. Please visit and where AutoNation discloses additional information about the Company, its business, and its results of operations. Please visit and where AutoNation discloses additional information about the Company, its business, and its results of operations. NON-GAAP FINANCIAL This news release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, which exclude certain items disclosed in the attached financial tables. As required by SEC rules, the Company provides reconciliations of these measures to the most directly comparable GAAP measures. The Company believes that these non-GAAP financial measures improve the transparency of the Company's disclosure, provide a meaningful presentation of the Company's results excluding the impact of items not related to the Company's ongoing core business operations, and improve the period-to-period comparability of the Company's results from its core business operations. Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP. FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "estimates," "intends," "goals," "targets," "projects," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our strategic initiatives, partnerships, and investments, including AutoNation Finance and AutoNation Mobile Service, statements regarding our expectations for shareholder returns, potential tariff-related impacts and the future performance of our business and the automotive retail industry, including during 2025, and other statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause our actual results, performance, or achievements to be materially different from any future results, performance, and achievements expressed or implied by these statements. These risks, uncertainties, and other factors include, among others: economic conditions, including changes in tariffs, unemployment, interest, and/or inflation rates, consumer demand, and fuel prices; our ability to implement successfully our strategic acquisitions, initiatives, partnerships, and investments; our ability to maintain or improve gross profit margins; our ability to maintain or gain market share; legal, reputational, and financial risks resulting from cyber incidents and the potential impact on our operating results; the receipt of any insurance or other recoveries in connection with any cyber incidents; our ability to successfully implement and maintain expense controls; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to acquire and integrate successfully new acquisitions; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for franchise acquisitions; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; changes in automotive laws and regulations affecting our business, including fuel economy requirements; factors affecting our goodwill and other intangible asset impairment testing; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances. AUTONATION, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share data) Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Revenue:New vehicle $ 3,396.3$ 3,122.5$ 6,644.4$ 6,101.8 Used vehicle 1,985.01,911.13,907.43,907.2 Parts and service 1,221.11,117.12,385.12,289.5 Finance and insurance, net 367.7324.0720.2658.7 Other 4.35.77.78.9 Total revenue 6,974.46,480.413,664.812,966.1 Cost of sales:New vehicle 3,212.92,932.16,286.15,715.5 Used vehicle 1,859.61,799.73,657.53,684.3 Parts and service 622.5580.51,218.81,197.1 Other 4.05.07.18.2 Total cost of sales 5,699.05,317.311,169.510,605.1 Gross profit 1,275.41,163.12,495.32,361.0 AutoNation Finance income (loss) 2.00.72.1(4.3) Selling, general, and administrative expenses 854.7825.81,676.61,618.9 Depreciation and amortization 63.959.9125.7118.2 Goodwill impairment 65.3—65.3— Franchise rights impairment 71.7—71.7— Other expense, net(1) 4.23.14.54.3 Operating income 217.6275.0553.6615.3 Non-operating income (expense) items:Floorplan interest expense (45.3)(53.9)(91.8)(103.3) Other interest expense (46.2)(46.8)(88.5)(91.4) Other income (loss), net(2) 12.3(0.1)(0.9)6.9 Income before income taxes 138.4174.2372.4427.5 Income tax provision 52.044.0110.5107.2 Net income $ 86.4$ 130.2$ 261.9$ 320.3 Diluted earnings per share $ 2.26$ 3.20$ 6.73$ 7.72 Diluted weighted average common shares outstanding 38.340.738.941.5 Common shares outstanding, net of treasury stock, at period end 37.739.737.739.7 (1) Includes asset impairments and net gains on business/property divestitures. (2) Includes gains related to changes in the cash surrender value of corporate-owned life insurance for deferred compensation plan participants, as well as gains (losses) on minority equity investments. AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA ($ in millions, except per vehicle data) Operating HighlightsThree Months Ended June 30,Six Months Ended June 30, 20252024$ Variance% Variance20252024$ Variance% Variance Revenue: New vehicle$ 3,396.3$ 3,122.5$ 273.88.8$ 6,644.4$ 6,101.8$ 542.68.9 Retail used vehicle1,845.01,743.5101.55.83,637.13,577.359.81.7 Wholesale140.0167.6(27.6)(16.5)270.3329.9(59.6)(18.1) Used vehicle1,985.01,911.173.93.93,907.43,907.20.2— Finance and insurance, net367.7324.043.713.5720.2658.761.59.3 Total variable operations5,749.05,357.6391.47.311,272.010,667.7604.35.7 Parts and service1,221.11,117.1104.09.32,385.12,289.595.64.2 Other4.35.7(1.4)7.78.9(1.2) Total revenue$ 6,974.4$ 6,480.4$ 494.07.6$ 13,664.8$ 12,966.1$ 698.75.4 Gross profit: New vehicle$ 183.4$ 190.4$ (7.0)(3.7)$ 358.3$ 386.3$ (28.0)(7.2) Retail used vehicle113.1107.35.85.4226.1209.117.08.1 Wholesale12.34.18.223.813.810.0 Used vehicle125.4111.414.012.6249.9222.927.012.1 Finance and insurance367.7324.043.713.5720.2658.761.59.3 Total variable operations676.5625.850.78.11,328.41,267.960.54.8 Parts and service598.6536.662.011.61,166.31,092.473.96.8 Other0.30.7(0.4)0.60.7(0.1) Total gross profit1,275.41,163.1112.39.72,495.32,361.0134.35.7 AutoNation Finance income (loss)2.00.71.32.1(4.3)6.4 Selling, general, and administrative expenses854.7825.8(28.9)(3.5)1,676.61,618.9(57.7)(3.6) Depreciation and amortization63.959.9(4.0)125.7118.2(7.5) Goodwill impairment65.3—(65.3)65.3—(65.3) Franchise rights impairment71.7—(71.7)71.7—(71.7) Other expense, net4.23.1(1.1)4.54.3(0.2) Operating income217.6275.0(57.4)(20.9)553.6615.3(61.7)(10.0) Non-operating income (expense) items: Floorplan interest expense(45.3)(53.9)...8.6(91.8)(103.3)11.5 Other interest expense(46.2)(46.8)0.6(88.5)(91.4)2.9 Other income (loss), net12.3(0.1)12.4(0.9)6.9(7.8) Income before income taxes$ 138.4$ 174.2$ (35.8)(20.6)$ 372.4$ 427.5$ (55.1)(12.9)Retail vehicle unit sales: New65,84761,2684,5797.5128,234120,1318,1036.7 Used69,73665,5044,2326.5137,736134,6253,1112.3 135,583126,7728,8117.0265,970254,75611,2144.4Revenue per vehicle retailed: New$ 51,579$ 50,965$ 6141.2$ 51,815$ 50,793$ 1,0222.0 Used$ 26,457$ 26,617$ (160)(0.6)$ 26,406$ 26,572$ (166)(0.6)Gross profit per vehicle retailed: New$ 2,785$ 3,108$ (323)(10.4)$ 2,794$ 3,216$ (422)(13.1) Used$ 1,622$ 1,638$ (16)(1.0)$ 1,642$ 1,553$ 895.7 Finance and insurance$ 2,712$ 2,556$ 1566.1$ 2,708$ 2,586$ 1224.7 Total variable operations(1)$ 4,899$ 4,904$ (5)(0.1)$ 4,905$ 4,923$ (18)(0.4)(1) Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales. Operating PercentagesThree Months Ended June 30,Six Months Ended June 30, 2025 ( %)2024 ( %)2025 ( %)2024 ( %) Revenue mix percentages: New vehicle48.748.248.647.1 Used vehicle28.529.528.630.1 Parts and service17.517.217.517.7 Finance and insurance, net5.35.05.35.1 Other—0.1—— 100.0100.0100.0100.0 Gross profit mix percentages: New vehicle14.416.414.416.4 Used vehicle9.89.610.09.4 Parts and service46.946.146.746.3 Finance and insurance28.827.928.927.9 Other0.1——— 100.0100.0100.0100.0 Operating items as a percentage of revenue: Gross profit: New vehicle5.46.15.46.3 Used vehicle - retail6.16.26.25.8 Parts and service49.048.048.947.7 Total18.317.918.318.2 Selling, general, and administrative expenses12.312.712.312.5 Operating income3.14.24.14.7 Operating items as a percentage of total gross profit: Selling, general, and administrative expenses67.071.067.268.6 Operating income17.123.622.226.1 AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA ($ in millions) Segment Operating HighlightsThree Months Ended June 30,Six Months Ended June 30, 20252024$ Variance% Variance20252024$ Variance% Variance Revenue: Domestic$ 1,920.5$ 1,739.4$ 181.110.4$ 3,637.9$ 3,496.1$ 141.84.1 Import2,148.32,018.8129.56.44,195.63,998.3197.34.9 Premium luxury2,555.82,398.4157.46.65,132.34,813.3319.06.6 Total Franchised Dealerships6,624.66,156.6468.07.612,965.812,307.7658.15.3 Corporate and other349.8323.826.08.0699.0658.440.66.2 Total consolidated revenue$ 6,974.4$ 6,480.4$ 494.07.6$ 13,664.8$ 12,966.1$ 698.75.4Segment income(1): Domestic$ 92.0$ 50.3$ 41.782.9$ 161.0$ 125.5$ 35.528.3 Import133.4108.225.223.3259.6237.022.69.5 Premium luxury180.1141.938.226.9358.8313.545.314.4 Total Franchised Dealerships405.5300.4105.135.0779.4676.0103.415.3 AutoNation Finance income (loss)2.00.71.32.1(4.3)6.4 Corporate and other(235.2)(80.0)(155.2)(319.7)(159.7)(160.0) Add: Floorplan interest expense45.353.9(8.6)91.8103.3(11.5) Operating income$ 217.6$ 275.0$ (57.4)(20.9)$ 553.6$ 615.3$ (61.7)(10.0) (1) Segment income for the Domestic, Import, and Premium Luxury reportable segments is a non-GAAP measure and is defined as operating income less floorplan interest new vehicle unit sales: Domestic19,35416,5832,77116.736,13232,4853,64711.2 Import29,74828,7291,0193.557,75156,2971,4542.6 Premium luxury16,74515,9567894.934,35131,3493,0029.6 65,84761,2684,5797.5128,234120,1318,1036.7Retail used vehicle unit sales: Domestic19,75218,7341,0185.438,17638,497(321)(0.8) Import23,39222,5728203.646,54746,3372100.5 Premium luxury19,01617,7691,2477.038,03336,7321,3013.5 Other7,5766,4291,14717.814,98013,0591,92114.7 69,73665,5044,2326.5137,736134,6253,1112.3Brand Mix - Retail New Vehicle Units SoldThree Months EndedSix Months EndedJune 30,June 30, 2025 ( %)2024 ( %)2025 ( %)2024 ( %) Domestic: Ford, Lincoln12.911.012.110.8 Chevrolet, Buick, Cadillac, GMC11.310.811.010.6 Chrysler, Dodge, Jeep, Ram5.25.35.15.6 Domestic total29.427.128.227.0 Import: Toyota21.221.420.721.5 Honda12.813.512.713.3 Nissan1.51.91.51.9 Hyundai3.53.73.53.6 Subaru3.33.73.73.7 Other Import2.92.72.92.9 Import total45.246.945.046.9 Premium Luxury: Mercedes-Benz8.58.19.18.3 BMW8.39.08.78.7 Lexus3.53.53.53.6 Audi1.61.91.92.0 Jaguar Land Rover1.91.92.02.0 Other Premium Luxury1.61.61.61.5 Premium Luxury total25.426.026.826.1 100.0100.0100.0100.0 AutoNation FinanceThree Months Ended June 30,Six Months Ended June 30, 20252024$ Variance20252024$ Variance Interest margin: Interest and fee income$ 48.6$ 26.5$ 22.1$ 90.5$ 48.3$ 42.2 Interest expense(17.8)(8.7)(9.1)(31.7)(15.7)(16.0) Total interest margin30.817.813.058.832.626.2 Provision for credit losses(19.2)(7.7)(11.5)(38.1)(17.9)(20.2) Total interest margin after provision for loan losses11.610.11.520.714.76.0 Direct expenses(1) (9.6)(9.4)(0.2)(18.6)(19.0)0.4 AutoNation Finance income (loss)$ 2.0$ 0.7$ 1.3$ 2.1$ (4.3)$ 6.4(1) Direct expenses are comprised primarily of compensation expenses and loan administration costs incurred by our auto finance company. AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA, Continued ($ in millions) Capital AllocationThree Months Ended June 30,Six Months Ended June 30, 2025202420252024 Capital expenditures$ 79.0$ 87.5$ 154.2$ 181.2 Cash paid for acquisitions, net of cash acquired $ —$ —$ 69.6$ — Stock repurchases: Aggregate purchase price(1)$ 29.0$ 311.3$ 253.8$ 350.0 Shares repurchased (in millions)0.22.01.52.2New Vehicle Floorplan Assistance and ExpenseThree Months Ended June 30,Six Months Ended June 30, 20252024Variance20252024Variance Floorplan assistance earned (included in cost of sales)$ 34.7$ 31.6$ 3.1$ 65.8$ 63.4$ 2.4 New vehicle floorplan interest expense(43.6)(52.3)8.7(87.6)(98.9)11.3 Net new vehicle inventory carrying expense$ (8.9)$ (20.7)$ 11.8$ (21.8)$ (35.5)$ 13.7Balance Sheet and Other HighlightsJune 30, 2025December 31, 2024June 30, 2024 Cash and cash equivalents $ 62.9$ 59.8$ 85.9 Inventory$ 3,445.6$ 3,360.0$ 3,553.9 Floorplan notes payable$ 3,655.9$ 3,709.7$ 3,959.8 Auto loans receivable, net$ 1,702.4$ 1,057.1$ 709.4 Non-recourse debt$ 1,464.6$ 826.0$ 488.3 Non-vehicle debt$ 3,764.6$ 3,762.1$ 4,011.6 Equity$ 2,469.5$ 2,457.3$ 2,183.2New days supply (industry standard of selling days)49 days 39 days67 days Used days supply (trailing calendar month days)39 days37 days34 daysKey Credit Agreement Covenant Compliance Calculations (2) Leverage ratio 2.33x Covenant less than or equal to 3.75xInterest coverage ratio 4.63x Covenant greater than or equal to 3.00x (1) Excludes excise taxes imposed under Inflation Reduction Act. (2) Calculated in accordance with our credit agreement as filed with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA, Continued ($ in millions, except per share data) Comparable Basis Reconciliations(1) Three Months Ended June 30, Operating IncomeIncome Before Income TaxesIncome Tax Provision(2)Effective Tax RateNet IncomeDiluted Earnings Per Share(3) 202520242025202420252024202520242025202420252024 As reported $ 217.6$ 275.0$ 138.4$ 174.2$ 52.0$ 44.037.6 %25.3 %$ 86.4$ 130.2$ 2.26$ 3.20 Increase in compensation expense related to market valuation changes in deferred compensation obligations(4) 10.40.7——————$ —$ — Goodwill, franchise rights, and other asset impairments(5) 141.3—141.3—18.5—122.8—$ 3.21$ — One-time costs associated with CDK outage(6) —42.8—42.8—10.5—32.3$ —$ 0.79 Adjusted $ 369.3$ 318.5$ 279.7$ 217.0$ 70.5$ 54.525.2 %25.1 %$ 209.2$ 162.5$ 5.46$ 3.99Three Months Ended June 30, SG&ASG&A as a Percentage of Gross Profit (%) 2025202420252024 As reported $ 854.7$ 825.867.071.0 Excluding:Increase in compensation expense related to market valuation changes in deferred compensation obligations 10.40.7 One-time costs associated with CDK outage —42.8 Adjusted $ 844.3$ 782.366.267.3 (1) Please refer to the "Non-GAAP Financial Measures" section of the Press Release. (2) Tax expense is determined based on the amount of additional taxes or tax benefits associated with each individual item. (3) Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding. (4) Increases in deferred compensation obligations, which are recorded in SG&A, are substantially offset by corresponding gains related to changes in the cash surrender value of corporate-owned life insurance ("COLI") for deferred compensation plan participants as a result of changes in market performance of the underlying investments; therefore, the net impact to net income and earnings per share is de minimis. Gains related to the COLI are recorded in non-operating Other Income (Loss), Net. (5) Includes goodwill impairment of $65.3 million, franchise rights impairment of $71.7 million, and other asset adjustments of $4.3 million. (6) Represents certain one-time costs incurred associated with the CDK outage, principally consisting of compensation paid to commission-based associates to ensure business continuity. AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA, Continued ($ in millions, except per share data) Comparable Basis Reconciliations(1)Six Months Ended June 30, Operating IncomeIncome Before Income TaxesIncome Tax Provision(2)Effective Tax RateNet IncomeDiluted Earnings Per Share(3) 202520242025202420252024202520242025202420252024 As reported $ 553.6$ 615.3$ 372.4$ 427.5$ 110.5$ 107.229.7 %25.1 %$ 261.9$ 320.3$ 6.73$ 7.72 Increase in compensation expense related to market valuation changes in deferred compensation obligations(4) 8.88.0——————$ —$ — Goodwill, franchise rights, and other asset impairments(5) 141.3—141.3—18.5—122.8—$ 3.16$ — Net loss on equity investments ——11.5—2.8—8.7—$ 0.22$ — One-time costs associated with CDK outage(6) —42.8—42.8—10.5—32.3$ —$ 0.78 Adjusted $ 703.7$ 666.1$ 525.2$ 470.3$ 131.8$ 117.725.1 %25.0 %$ 393.4$ 352.6$ 10.11$ 8.50Six Months Ended June 30, SG&ASG&A as a Percentage of Gross Profit (%) 2025202420252024 As reported $ 1,676.6$ 1,618.967.268.6 Excluding:Increase in compensation expense related to market valuation changes in deferred compensation obligations 8.88.0 One-time costs associated with CDK outage —42.8 Adjusted $ 1,667.8$ 1,568.166.866.4 (1) Please refer to the "Non-GAAP Financial Measures" section of the Press Release. (2) Tax expense is determined based on the amount of additional taxes or tax benefits associated with each individual item. (3) Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding. (4) Increases in deferred compensation obligations, which are recorded in SG&A, are substantially offset by corresponding gains related to changes in the cash surrender value of corporate-owned life insurance ("COLI") for deferred compensation plan participants as a result of changes in market performance of the underlying investments; therefore, the net impact to net income and earnings per share is de minimis. Gains related to the COLI are recorded in non-operating Other Income (Loss), Net. (5) Includes goodwill impairment of $65.3 million, franchise rights impairment of $71.7 million, and other asset adjustments of $4.3 million. (6) Represents certain one-time costs incurred associated with the CDK outage, principally consisting of compensation paid to commission-based associates to ensure business continuity. AUTONATION, INC. UNAUDITED SUPPLEMENTARY DATA, Continued ($ in millions, except per share data) Free Cash FlowSix Months Ended June 30, 20252024 Net cash provided by (used in) operating activities $ (230.3)$ 234.9 Net payments of vehicle floorplan - non-trade83.194.8 Increase in auto loans receivable, net695.0370.6 Adjusted cash provided by operating activities 547.8700.3 Purchases of property and equipment (154.2)(181.2) Adjusted free cash flow $ 393.6$ 519.1 Adjusted net income$ 393.4$ 352.6 Adjusted free cash flow conversion %100147 AUTONATION, INC. UNAUDITED SAME STORE DATA ($ in millions, except per vehicle data) Operating HighlightsThree Months Ended June 30,Six Months Ended June 30, 20252024$ Variance% Variance20252024$ Variance% Variance Revenue: New vehicle$ 3,372.0$ 3,088.7$ 283.39.2$ 6,619.6$ 6,036.0$ 583.69.7 Retail used vehicle1,815.21,717.597.75.73,581.73,521.660.11.7 Wholesale138.3164.9(26.6)(16.1)265.9323.3(57.4)(17.8) Used vehicle1,953.51,882.471.13.83,847.63,844.92.70.1 Finance and insurance, net362.5320.042.513.3711.7650.461.39.4 Total variable operations5,688.05,291.1396.97.511,178.910,531.3647.66.1 Parts and service1,211.91,086.7125.211.52,372.52,223.9148.66.7 Other4.25.6(1.4)7.79.0(1.3) Total revenue$ 6,904.1$ 6,383.4$ 520.78.2$ 13,559.1$ 12,764.2$ 794.96.2Gross profit: New vehicle$ 182.6$ 188.7$ (6.1)(3.2)$ 357.4$ 382.9$ (25.5)(6.7) Retail used vehicle111.3105.75.65.3223.0206.116.98.2 Wholesale12.44.67.824.114.59.6 Used vehicle123.7110.313.412.1247.1220.626.512.0 Finance and insurance362.5320.042.513.3711.7650.461.39.4 Total variable operations668.8619.049.88.01,316.21,253.962.35.0 Parts and service594.4526.268.213.01,160.21,070.389.98.4 Other0.20.6(0.4)0.60.6— Total gross profit$ 1,263.4$ 1,145.8$ 117.610.3$ 2,477.0$ 2,324.8$ 152.26.5Retail vehicle unit sales: New65,33460,6084,7267.8127,713118,8358,8787.5 Used68,39864,3644,0346.3135,185132,2142,9712.2 133,732124,9728,7607.0262,898251,04911,8494.7Revenue per vehicle retailed: New$ 51,612$ 50,962$ 6501.3$ 51,832$ 50,793$ 1,0392.0 Used$ 26,539$ 26,684$ (145)(0.5)$ 26,495$ 26,636$ (141)(0.5)Gross profit per vehicle retailed: New$ 2,795$ 3,113$ (318)(10.2)$ 2,798$ 3,222$ (424)(13.2) Used$ 1,627$ 1,642$ (15)(0.9)$ 1,650$ 1,559$ 915.8 Finance and insurance$ 2,711$ 2,561$ 1505.9$ 2,707$ 2,591$ 1164.5 Total variable operations(1)$ 4,908$ 4,916$ (8)(0.2)$ 4,915$ 4,937$ (22)(0.4)(1) Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit PercentagesThree Months Ended June 30,Six Months Ended June 30, 2025 ( %)2024 ( %)2025 ( %)2024 ( %) Revenue mix percentages: New vehicle48.848.448.847.3 Used vehicle28.329.528.430.1 Parts and service17.617.017.517.4 Finance and insurance, net5.35.05.25.1 Other—0.10.10.1 100.0100.0100.0100.0 Gross profit mix percentages: New vehicle14.516.514.416.5 Used vehicle9.89.610.09.5 Parts and service47.045.946.846.0 Finance and insurance28.727.928.728.0 Other—0.10.1— 100.0100.0100.0100.0 Operating items as a percentage of revenue: Gross profit: New vehicle5.46.15.46.3 Used vehicle - retail6.16.26.25.9 Parts and service49.048.448.948.1 Total18.317.918.318.2 View original content to download multimedia: SOURCE AutoNation, Inc. 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