AutoNation Opens Ninth AutoNation USA Store, Second in Phoenix Market

Rhea-AI Summary

AutoNation (NYSE: AN) announced the opening of its ninth AutoNation USA store in Phoenix Avondale, marking its second pre-owned vehicle store in the area. This expansion is part of a broader strategy to have over 130 AutoNation USA locations by 2026. The company emphasizes a customer-centric approach with competitive, haggle-free pricing through its 1Price Pre-Owned program. The new location will create 26 jobs and is linked to AutoNation's Drive Pink initiative, which has raised over $28 million for cancer research.

Positive

• Opening of ninth AutoNation USA store, second in Phoenix market.
• Plans to expand to over 130 AutoNation USA stores by 2026.
• Creation of 26 local jobs at the new store.
• Unique customer-focused programs like 1Price Pre-Owned and We'll Buy Your Car.

Negative

• None.

FORT LAUDERDALE, Fla., Nov. 16, 2021 /PRNewswire/ -- Building on its commitment to a superior Customer experience and consumer choice for pre-owned vehicles, AutoNation, Inc. (NYSE: AN) today announced the opening of AutoNation USA Phoenix Avondale, its second pre-owned vehicle store in the Phoenix market and the fourth new AutoNation USA store to open in 2021.

With currently nine AutoNation USA stores in the nation, America's largest and most admired automotive retailer is on track to have more than 130 AutoNation USA stores in operation from coast to coast by the end of 2026, including plans for one more store in 2021 and 12 additional locations in 2022.

"Strong consumer demand for pre-owned vehicles creates an ideal environment for AutoNation USA to highlight our distinctive Customer-centric experience and our coast-to-coast network of stores, which give Customers a choice when they are shopping for vehicles," said Steve Kwak, AutoNation USA President. "The opening of our ninth AutoNation USA store and our plan to have 130 stores open by the end of 2026 underscores our nationwide commitment to the pre-owned vehicle market."

AutoNation USA's Customer-focused program known as 1Price Pre-Owned makes buying a pre-owned vehicle easy, with competitive, haggle-free pricing. Additionally, the company's We'll Buy Your Car program offers Customers a competitive cash offer to sell their vehicles directly to AutoNation and get paid the same day, with no purchase necessary.

"We look forward to welcoming Avondale Customers and are excited to introduce them to our easy-to-use digital tools that help them save time by searching our extensive pre-owned car inventory online to find the car they're looking for at a guaranteed low price," said Matt Brown, AutoNation Market President. "In addition to creating 26 new jobs in the local market, we are committed to serving our community through AutoNation's Drive Pink initiative, which partners locally with Phoenix Children's Hospital and has raised more than $28 million in the fight against cancer nationwide."

The AutoNation USA Phoenix Avondale store is located at 10601 West Papago Freeway, Avondale, Arizona, 85323. Store hours are Monday through Saturday, 9 am to 9 pm, and 10 am to 6 pm Sunday. The store can be reached at (602) 794-1700 or online at AutoNationUSA.com.

In addition to the two AutoNation USA stores in the Phoenix market, AutoNation has 14 locations in Arizona.

About AutoNation, Inc.  
AutoNation, America's largest and most admired automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of September 30, 2021, AutoNation owned and operated over 300 locations from coast to coast. AutoNation has sold over 13 million vehicles, the first automotive retailer to reach this milestone. AutoNation's success is driven by a commitment to delivering a peerless experience through Customer-focused sales and service processes. Since 2013, AutoNation has raised over $28 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.

Please visit www.autonation.com, investors.autonation.com, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

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," "intends," "goals," "targets," "projects," "plans," "track," "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, or investments, including the planned expansion of our AutoNation USA pre-owned vehicle stores; pending acquisitions; and our investments in digital and online capabilities; as well as statements regarding our expectations for the future performance of our business, including with respect to new and pre-owned vehicle sales targets, and the automotive retail industry, 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 consumer demand, unemployment rates, interest rates, fuel prices, and tariffs; our ability to implement successfully our strategic initiatives, partnerships, and investments, including the planned expansion of our AutoNation USA stores; our ability to identify, acquire, and build out suitable locations in a timely manner; our ability to acquire and integrate successfully new franchises; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for acquisitions; our ability to develop successfully our digital and online capabilities and other brand extension strategies; supply chain disruptions and inventory availability; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to attain planned sales volumes within our expected time frames; new and used vehicle margins; our ability to successfully implement and maintain expense controls; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; the response by federal, state, and local governments and other third parties to, and the economic impacts of, the COVID-19 pandemic; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; the announcement of safety recalls; 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.

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SOURCE AutoNation, Inc.

FAQ

What is the significance of AutoNation's new store opening in Phoenix?

The opening signifies AutoNation's commitment to expanding its presence in the pre-owned vehicle market, with a goal of having over 130 locations by 2026.

How many AutoNation USA stores are operational now?

As of now, AutoNation operates nine AutoNation USA stores across the country.

What customer programs does AutoNation offer?

AutoNation offers competitive pricing programs such as 1Price Pre-Owned and We'll Buy Your Car, aimed at enhancing customer experience.

How much has AutoNation raised for cancer research?

AutoNation has raised over $28 million through its Drive Pink initiative to support cancer research.

Where is the new AutoNation store located?

The new AutoNation USA store is located at 10601 West Papago Freeway, Avondale, Arizona.