AutoNation Stock Price, News & Analysis

VinFast has received a significant order from Autonomy for over 2,500 VF 8 and VF 9 electric vehicles at the 2022 LA Auto Show. This marks VinFast's largest corporate order and underscores its growing international market presence. Autonomy, which had earlier planned to order only 400 vehicles, aims to enhance consumer access to VinFast's electric offerings through a flexible subscription model. Deliveries are set to begin within 12 months as VinFast expands into U.S. markets, signifying a promising step for the company in the EV landscape.

Autonomy, the leading electric vehicle subscription service, is expanding to the Seattle metro area, including Tacoma and Bellevue. Following a successful launch in California, the company aims to support Washington's electrification goals by offering flexible and affordable access to electric vehicles.

With gas prices rising, the subscription service becomes increasingly attractive, featuring monthly payments starting at $490 and minimal drive-off fees. Autonomy's partnership with AutoNation will enhance vehicle preparation and maintenance for its growing fleet.

On Nov. 15, 2022, AutoNation (NYSE: AN) announced its acquisition of approximately 6.1% of TrueCar (NASDAQ: TRUE), a leading automotive digital marketplace. This strategic investment underscores AutoNation's commitment to enhancing customer experiences through emerging technologies. The collaboration aims to improve the digital car-buying process, aligning both companies' values. AutoNation's CEO, Mike Manley, emphasized the investment's potential to foster closer commercial ties with TrueCar, enhancing service delivery in the automotive retail space.

Autonomy, the largest EV subscription company in the U.S., expands to South East Florida, including Miami, Fort Lauderdale, and West Palm Beach. This move follows its successful launch in California, which dominates EV registrations. Florida, with its growing EV market, ranks second nationally. Autonomy aims to provide affordable access to EVs without long-term commitments, addressing a significant barrier for consumers. The company has partnered with AutoNation for vehicle services and has a massive order of 23,000 electric vehicles worth over $1.2 billion to enhance its fleet.

AutoNation reported record third-quarter 2022 GAAP EPS of $6.31, up 23% year-over-year, with adjusted EPS at $6.00, a 17% increase. Revenue reached $6.7 billion, a rise of 4%, despite industry-wide sales declines. Operating income also increased by 4% to $523 million. Notably, After-Sales gross profit increased 13% to $479 million. The company authorized an additional $1 billion for stock repurchases, totaling $1.4 billion. AutoNation is set to acquire four dealerships from Moreland Auto Group, projected to generate $320 million in annual revenue.

AutoNation (NYSE: AN), America's largest automotive retailer, will announce its third-quarter financial results for the period ending September 30, 2022, on October 27, 2022. A conference call and audio webcast at 9:00 a.m. Eastern Time will provide insights into these results. Investors can join the call through the provided telephone number or access the webcast on the company's investor relations website. Following the call, a playback option will be available until November 17, 2022.

AutoNation is committed to raising $35 million for cancer research, treatment, and awareness through its Drive Pink initiative. The company's annual DRVPNK Across America Day on October 11 will see thousands of associates deliver comfort bags to cancer patients nationwide. Since 2013, AutoNation has raised nearly $35 million for cancer charities, partnering with organizations such as the Breast Cancer Research Foundation and the American Cancer Society. AutoNation also provides cancer insurance for associates and their families, highlighting its commitment to fight cancer year-round.

AutoNation (NYSE:AN) has been named the industry leader in the 2022 Automotive Reputation Report by Reputation, scoring highest among public dealer groups based on customer feedback. The report covers 20,000 brands and dealerships in North America and highlights AutoNation's commitment to customer satisfaction through its associates' efforts. The Reputation Score is a vital metric that tracks customer sentiment, indicating AutoNation's leadership in enhancing the sales process and customer loyalty in a rapidly evolving automotive industry.