AutoNation August sales jump 28 pct

Associated Press Published: September 5, 2012
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FORT LAUDERDALE, Fla. (AP) — AutoNation Inc., the country's largest automotive retailer, said Wednesday that its new vehicle sales rose 28 percent in August, boosted by steep jumps in demand for both domestic and imported vehicles.

The Fort Lauderdale, Fla.-based company sold a total of 23,213 vehicles. Sales of imported vehicles surged 42 percent to 12,530, helped by a greater availability of Japanese vehicles.

Sales of popular brands like Toyota and Honda had fallen at this point last year because of a lack of U.S. inventory following Japan's earthquake and tsunami.

Domestic sales rose 20 percent to 6,961, while sales of premium luxury vehicles increased 6 percent to 3,722.

AutoNation said it plans to report its September retail new vehicle sales on Oct. 3. The company operates 261 franchises in 15 states selling 32 brands.

AutoNation shares finished at $41.16 on Tuesday. Its shares are 6 percent below their 52-week high of $43.72 set in mid-July.


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