AutoNation (AN.N)AutoNation unit launches Shop-By-Payment service 3:09 pm U.S. ET | May 20, 2013 AutoNation's lead-referral subsidiary today unveiled an online service that lets consumers search dealership Web sites for new and used vehicles based on monthly payments. When a consumer chooses the desired payment a sales lead is sent to the dealership.... Read More »
AMY WILSON For AutoNation's Jackson, Penske sets pace for retirement 12:01 am U.S. ET | May 16, 2013  AutoNation CEO Mike Jackson's employment contract with the country's largest dealership group is up in September. Jackson will turn 65 next February, but he has no intention of walking out the door any time soon.... Read More »
AMY WILSON Rebranding effort aids AutoNation's community giving 11:57 am U.S. ET | May 15, 2013  AutoNation has rebranded nearly 40 percent of its dealerships with its coast-to-coast AutoNation name. And, contrary to early fears within the nation's largest auto dealership group, AutoNation says it is maintaining or increasing share in those converted markets.... Read More »
FINAL ASSEMBLY Jackson: Penske sets my retirement pace 12:01 am U.S. ET | May 13, 2013  AutoNation CEO Mike Jackson's employment contract with the country's largest dealership group is up in September. Jackson will turn 65 next February, but he has no intention of walking out the door any time soon.... Read More »
Public retail groups: 'We're fighting tooth and nail' for margins 12:01 am U.S. ET | May 6, 2013 Profit margins on new vehicles are slipping for the nation's largest dealership groups as manufacturers and retailers slug it out for market share. New-car margins dropped for all the public dealership groups during the first quarter of 2013.... Read More »
AutoNation's new-vehicle sales rose 10% in April 1:37 pm U.S. ET | May 2, 2013  Driven by a domestic-brand sales surge, AutoNation, the nation's largest dealership group, reported a 10 percent gain in new-vehicle sales in April.... Read More »
'CHASING THAT CRAZY NUMBER' Dealers grouse that stair-step plans are causing more pain than last year 12:01 am U.S. ET | April 29, 2013 Stair-step programs, the incentive plans that drive many dealers crazy, are causing more grumbling than they were a year ago. Several major retailers, including some of the largest dealership groups in the country, say stair-step programs are worse than last spring.... Read More »
Dealership groups expected to post first-quarter gains 4:29 pm U.S. ET | April 22, 2013 Dealership groups that announce their first-quarter earnings over the next two weeks should see continued growth as new- and used-car sales outperform 2012 levels, analysts say. Asbury Automotive Group, Sonic Automotive and Lithia Motors release their quarterly reports this week. Penske Automotive Group and Group 1 Automotive report next week.... Read More »
AutoNation gobbles stores 12:01 am U.S. ET | April 22, 2013 AutoNation Inc. is on its biggest buying binge since its initial rollup in the late 1990s, and executives say they're not done yet.... Read More »
AutoNation Q1 earnings soar; acquisitions continue 6:30 am U.S. ET | April 18, 2013  AutoNation said first-quarter net income rose 14 percent to $83 million, up from $73 million a year ago. With profits up in all categories of its business during the first quarter, particularly finance and insurance and parts and service, AutoNation is snapping up more dealerships.... Read More »
AutoNation's March sales rise 7 percent as economy grows 12:08 pm U.S. ET | April 3, 2013  Driven by a strong recovery in the housing market and big gains in pickups, AutoNation, the country's largest dealership group, reported a 7 percent gain in new-vehicle sales in March.... Read More »
AutoNation boosts pay for Jackson, Maroone 2:41 pm U.S. ET | March 26, 2013  AutoNation, the largest U.S. dealership group, slightly increased pay packages for its top two executives in 2012. CEO Mike Jackson received total pay and compensation of $6.6 million, up from $6.4 million in 2011. Jackson's salary of $1.2 million was unchanged. His bonus was $2.1 million, up from $1.5 million the prior year.... Read More »
Three luxury brands OK AutoNation's strategy 12:01 am U.S. ET | March 4, 2013  Some luxury brands are giving AutoNation the OK to put the AutoNation brand name on their dealerships. But continued reluctance from the best-selling luxury automakers -- the German manufacturers, in particular -- may keep AutoNation's branding strategy from spreading to the rest of its network... Read More »
AutoNation's vehicle sales rise 6% in February 11:23 am U.S. ET | March 4, 2013  Buoyed by strong luxury-brand sales, new dealerships and a robust California market, AutoNation, the country's largest auto dealership group, reported a 6 percent gain in sales in February.... Read More »
Lampert's RBS hedge fund cuts stake in AutoNation 6:19 pm U.S. ET | Feb. 14, 2013  Edward Lampert, the billionaire chairman and CEO of Sears Holdings, reported that he and his hedge fund cut a stake in AutoNation, the country's largest auto retailer.... Read More »
JIM HENRY The dealer, F&I vendor disconnect 12:01 am U.S. ET | Feb. 13, 2013  There’s a disconnect in the F&I space that’s getting more obvious. Many dealers, including some of the big publicly traded dealership groups, say they’re limiting their F&I menus to three or four items: extended-service contracts, GAP policies, prepaid maintenance and perhaps another.... Read More »
On the Record 6:47 pm U.S. ET | Feb. 9, 2013  MIKE JACKSON, AutoNation CEO... Read More »
Comeback for the service lane? 6:16 pm U.S. ET | Feb. 8, 2013 Dealers' service departments are about to benefit from a growing number of 3-year-old vehicles on the roads, says Mike Jackson, CEO of AutoNation, the nation's largest auto retailer. Jackson said energy and housing are growing bright spots in an otherwise anemic economic recovery.... Read More »
AutoNation's Jackson says retail recovery in 'early innings' 4:05 pm U.S. ET | Feb. 8, 2013  The automotive economic recovery is only beginning from a retail standpoint, despite a growing seasonally adjusted annualized selling rate, according to Mike Jackson, CEO of AutoNation, the nation's largest auto retailer.... Read More »
JIM HENRY Sky’s the limit for AutoNation F&I 12:01 am U.S. ET | Feb. 6, 2013  It looks like AutoNation Inc. has upped the ante once again in F&I revenues per vehicle, having reached a record $1,307 in the fourth quarter of 2012.... Read More »
AUTONATION COAST TO COAST 'AutoNation' now a brand; who's next? 12:01 am U.S. ET | Feb. 4, 2013  AutoNation Inc.'s move to put its corporate name on most of its stores signals the next wave for a dealership business model that has moved from exclusively mom-and-pop stores in a short period of time. Some other large dealership groups -- Sonic Automotive Inc., for one -- are mulling their own branding efforts.... Read More »
KEITH CRAIN The retail business changes again 12:01 am U.S. ET | Feb. 4, 2013  Just a few decades ago, if you wanted to buy a Zenith TV, you went to a Zenith store. That changed. It evolved a bit more last week when AutoNation said it will change the names of 160 of its dealerships to include the AutoNation brand name. It was inevitable, and I am surprised it took so long Keith Crain is editor-in-chief of Automotive News.... Read More »
EDITORIAL AutoNation's new store names are a sign of the times 12:01 am U.S. ET | Feb. 4, 2013 On the eve of the National Automobile Dealers Association convention in Orlando, AutoNation Inc. revealed the next evolutionary stage in automotive retailing. Last week, the nation's largest dealership group disclosed that it plans to use the AutoNation brand name on 160 of its 221 dealerships, supplanting the 15 regional names it has used in local markets across the country.... Read More »
AUTONATION COAST TO COAST AutoNation move had blessing of factories 12:01 am U.S. ET | Feb. 4, 2013  AutoNation Inc.'s move to drop regional brand names on its dealerships and use the AutoNation moniker on most of its 221 stores coast to coast came with the blessings of the automakers it represents.... Read More »
Q&A: MIKE JACKSON AND MICHAEL MAROONE Jackson, Maroone nurtured 1-brand plan since '99 12:01 am U.S. ET | Feb. 4, 2013  For AutoNation, the move to one brand was 13 years in the making. CEO Mike Jackson and COO Michael Maroone have nurtured the idea since Jackson joined the retailer in late 1999.... Read More »
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