Profile: AutoNation Inc (AN)
28 Apr 2017
AutoNation, Inc. (AutoNation), incorporated on May 30, 1991, is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, which include vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources. It operates through three segments: Domestic, Import and Premium Luxury. These segments consist of retail automotive franchises that sell various new vehicle brands, including Ram, Genesis, Volkswagen, Jaguar, Porsche, Infiniti, Volvo, Land Rover, smart and Mazda. As of December 31, 2016, it owned and operated 371 new vehicle franchises from 260 stores located in the United States, predominantly in metropolitan markets in the Sunbelt region.
The Company's Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and FCA US. The Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda and Nissan. The Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Audi and Lexus. In addition, it offers Alfa Romeo, Audi, Bentley, Land Rover, Jaguar, Maserati, Mini, Porsche and smart brands. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products.
The Company's stores acquire new vehicles for retail sale either directly from the applicable automotive manufacturer or distributor or through dealer trades with other stores of the same brand franchise. It acquires used vehicles from customers, primarily through trade-ins, as well as through auctions, lease terminations, and other sources, and the Company reconditions used vehicles acquired for retail sale in its parts and service departments. The Company's stores provide a range of vehicle maintenance, repair and collision repair services, including manufacturer recall repairs and other warranty work that can be performed at franchised dealerships and customer-pay service work. Its parts and service departments also recondition used vehicles acquired by its used vehicle departments and perform minor preparatory work on new vehicles acquired by its new vehicle departments. In addition to its retail business, the Company also has a wholesale parts operation, which sells automotive parts to both collision repair shops and independent vehicle repair providers.
The Company offers a range of automotive finance and insurance products to its customers. The Company arranges for its customers to finance vehicles through installment loans or leases with third-party lenders, including the vehicle manufacturers' and distributors' captive finance subsidiaries, in exchange for a commission payable to it. It also offers various vehicle protection products, including an AutoNation-branded extended service contract (the AutoNation Vehicle Protection Plan) in its Domestic and Import stores and other extended service contracts, maintenance programs, guaranteed auto protection, tire and wheel protection, and theft protection products. These products are underwritten and administered by independent third parties, including the vehicle manufacturers' and distributors' captive finance subsidiaries.
200 SW 1st Ave Ste 1600
FORT LAUDERDALE FL 33301-1875