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AutoNation, Inc. (NYSE: AN) is a leading automotive retailer in the United States, renowned for its innovative products, exceptional services, and comprehensive solutions that empower customers to make the best decisions for their ever-changing needs. With a vast network of over 250 dealerships and 53 collision centers, AutoNation represents 34 manufacturer brands across 21 states. The company also operates 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors.
Established in the 1990s by Wayne Huizenga, AutoNation has grown to become the second-largest automotive dealer in the U.S., with 2023 revenue of approximately $27 billion. The company sells new and used vehicles, offers parts and repair services, and provides auto financing. New-vehicle sales account for nearly half of the company's revenue, while the remaining comes from used vehicle sales, parts, and services.
AutoNation is committed to delivering a peerless customer experience, as evidenced by its recent achievements and initiatives. The company has raised over $35 million for cancer research, treatment, and awareness through its signature DRV PNK campaign. Additionally, AutoNation continues to innovate in personalized transportation services, recently launching AutoNationParts.com for online parts sales and AutoNation Mobility for short-term vehicle micro leases.
Financially, AutoNation has shown resilience and adaptability, with a strong balance sheet and strategic capital allocation. The company reported a revenue of $6.9 billion for Q3 2023, marking a 3% increase from the prior year. Despite challenges such as fluctuating new and used vehicle margins and inventory availability, AutoNation's focus on After-Sales growth and customer financial services has driven record gross profits.
Looking forward, AutoNation remains focused on maximizing shareholder returns, supported by its robust operating cash flow and ongoing investments in technology and new business initiatives. The company's strategic acquisitions, partnerships, and investments are set to enhance its market position and drive long-term growth.
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